AstraZeneca Inks Over $500 Million Deal for Pinetree’s Preclinical EGFR Degrader
PineTree Therapeutics
Developer of Disruptive Tumor Therapies
AstraZeneca
Biopharmaceutical Manufacturer
On July 23, Pinetree Therapeutics announced that it had reached an agreement with AstraZeneca regardingPreclinical EGFR Degrader CandidateReach an Exclusive Option and Global License Agreement.
According to the terms of the agreement, AstraZenecaObtainExclusive Option,LicensePineTree Therapeutics' EGFR Degrader for Global Development and Commercialization.In exchange, PineTree Therapeutics will receiveUp to $45 million in upfront and near-term payments、Total transaction value exceeds $500 million in additional development and commercial milestone payments, as well as tiered royalties on global net sales.
PineTree Therapeutics' pan-EGFR degrader isDeveloped using its proprietary multispecific antibody platform AbReptor™，Demonstrates promising preclinical antitumor activity in drug-resistant and TKI-resistant tumors, with enhanced activity when combined with current EGFR inhibitors.。PineTree Therapeutics is also advancing multiple preclinical candidates derived from its AbReptor™TPD platform, which have potential in oncology and other therapeutic areas.
PineTree Therapeutics, Inc. isA biotechnology company that pioneers the next generation of targeted protein degraders (TPD) to combat drug resistance in oncology and beyond.In June 2022, it secured $23.5 million in Series A1 funding to develop cutting-edge platform technology.
AbReptor™ PlatformAimed at combating drug resistance in oncology and other fields, it is aIt is the first-of-its-kind, best-in-class, transformative, and modular.Bispecific and Multispecific Antibody Platforms, aiming to degrade membrane-bound proteins and extracellular proteins. Since its establishment in 2019, Pinetree's platform has launched several compelling preclinical programs in oncology and other therapeutic areas.
Summary
Global Pharmaceutical GiantAstraZenecaFrequent acquisitions. Earlier this year, AstraZeneca acquired PineTree Therapeutics' EGFR L858R inhibitor for $540 million. The drug is used to treat advanced EGFR-mutant non-small cell lung cancer (NSCLC).
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