AstraZeneca Licenses Pinetree's EGFR Degrader in $500M+ Deal

AstraZeneca (AZ) and Pinetree Therapeutics have forged a significant partnership through an exclusive option and global licence agreement, valuing over $500 million, aimed at advancing a preclinical epidermal growth factor receptor (EGFR) degrader. This collaboration grants AZ the exclusive option to license Pinetree's candidate, developed with the company's AbReptor multi-specific antibody platform, for worldwide development and commercialization.

Under the terms of the agreement, Pinetree will receive upfront and near-term payments amounting to as much as $45 million. Additionally, the biotech firm stands to earn further developmental and commercial milestone payments, cumulatively exceeding $500 million. They will also benefit from tiered royalties on global net sales.

The investigational drug has shown promising anti-tumor activity in preclinical studies, particularly in tumors resistant to drugs and tyrosine kinase inhibitors. Additionally, it has demonstrated enhanced efficacy when combined with existing EGFR inhibitors, according to Pinetree’s CEO, Hojuhn Song. "We are thrilled to announce this option and licence agreement with AZ to push one of our novel receptor degrader programs into clinical development," Song stated.

Targeted protein degradation drugs are designed to reprogram the body's cellular machinery to selectively eliminate disease-causing proteins. EGFR, a protein often overexpressed in various solid tumors, is a key target for these therapies. "Targeted protein degradation is an encouraging therapeutic modality,” said Puja Sapra, Senior Vice President of Oncology Targeted Discovery and Oncology Research and Development at AZ. "We are pleased to enter into this agreement with Pinetree for the exclusive option to license its pan-EGFR degrader, intended for exploration in EGFR-expressing tumors, inclusive of those with EGFR mutations."

AZ has a significant presence in the EGFR-targeting drug market with its EGFR-tyrosine kinase inhibitor, Tagrisso (osimertinib). The drug has received broad approval for treating EGFR-mutated lung cancer. Most recently, the European Commission approved Tagrisso in combination with pemetrexed and platinum-based chemotherapy as a first-line treatment for adults with locally advanced EGFR-mutated non-small cell lung cancer (NSCLC) characterized by exon 19 deletions or exon 21 mutations.

Tagrisso already has monotherapy approval in over 100 countries, with indications including the first-line treatment of patients with locally advanced or metastatic EGFR-mutated NSCLC, and those with the EGFR T790M mutation-positive NSCLC. The drug is also approved for the adjuvant treatment of early-stage EGFR-mutated NSCLC.

This agreement between AZ and Pinetree Therapeutics underscores the potential of targeted protein degradation as a therapeutic approach and highlights the ongoing development of innovative treatments for EGFR-expressing tumors. The collaboration holds promise for advancing the standard of care for patients with challenging cancer profiles.