Biotech Advances Boost Oncology Market to $564.5B Amid Youth Cancer Increase

Cancer remains a formidable health concern worldwide, with recent studies indicating a rise in cancer cases among younger populations. Researchers are investigating various causes, including increased obesity rates, which may contribute to this trend. As the demand for effective cancer treatments grows, the Global Oncology Drugs Market is projected to expand at an 11.5% compound annual growth rate (CAGR) through 2033, potentially reaching a market value of $564.5 billion.

Several biotechnology companies are making significant strides in developing new cancer therapies. Oncolytics Biotech Inc. (NASDAQ: ONCY) (TSX: ONC), Mustang Bio, Inc. (NASDAQ: MBIO), Legend Biotech Corporation (NASDAQ: LEGN), Johnson & Johnson (NYSE: JNJ), and Nurix Therapeutics, Inc. (NASDAQ: NRIX) are at the forefront of these advancements.

Oncolytics Biotech Inc. has recently started dosing the first patient in a new study cohort under the GOBLET trial. This study is evaluating the combination of pelareorep and modified FOLFIRINOX (mFOLFIRINOX), with or without atezolizumab (Tecentriq®), in patients newly diagnosed with metastatic pancreatic ductal adenocarcinoma (PDAC). The primary goals of this cohort are to assess the objective response rate (ORR) and safety of the treatment. This effort is funded by a $5 million grant from the Pancreatic Cancer Action Network (PanCAN) Therapeutic Accelerator Award, designed to expedite the development of new treatments for pancreatic cancer.

Dr. Thomas Heineman, Chief Medical Officer at Oncolytics, expressed enthusiasm for this milestone, hoping that the combination therapy could lead to a second pancreatic cancer registration program for the company. Previous trials showed that combining pelareorep with atezolizumab, gemcitabine, and nab-paclitaxel more than doubled tumor response rates compared to chemotherapy alone. This promising combination has received Fast Track Designation from the FDA and will be evaluated further in an adaptive registration-enabling trial through the Global Coalition for Adaptive Research (GCAR).

In other developments, Mustang Bio, Inc. reported promising results from its Phase 1/2 trial of MB-106, a CD20-targeted CAR T-cell therapy for Waldenstrom macroglobulinemia (WM). The trial demonstrated a 90% overall response rate (ORR), with one patient remaining in complete remission for 31 months. Dr. Brian Till, an associate professor at Fred Hutch and the University of Washington, highlighted the significance of these findings, which show MB-106's potential in expanding and persisting in patients.

Legend Biotech Corporation also announced encouraging results from its Phase 2 CARTITUDE-2 Cohort D study for multiple myeloma patients. The study, presented at ASCO 2024, revealed deep and durable responses in patients receiving CARVYKTI® (ciltacabtagene autoleucel) with or without lenalidomide maintenance after a single infusion.

Johnson & Johnson has submitted a Biologics License Application (BLA) to the FDA for a subcutaneous version of amivantamab combined with recombinant human hyaluronidase. This submission covers all current and pending indications of intravenous RYBREVANT® (amivantamab-vmjw) for certain non-small cell lung cancer (NSCLC) patients. The Phase 3 PALOMA-3 study showed that subcutaneous amivantamab had similar response rates to intravenous administration, with additional benefits such as shorter administration time and reduced infusion-related reactions.

Lastly, Nurix Therapeutics, Inc. updated its clinical data for NX-5948, an oral Bruton's tyrosine kinase (BTK) degrader, in a Phase 1a/b trial for relapsed/refractory B-cell malignancies. The trial showed a 69.2% objective response rate in heavily pretreated patients, including those with resistance to BTK inhibitors. Dr. Kim Linton, a senior lecturer at the University of Manchester and consultant at The Christie NHS Foundation Trust, noted the impressive early-stage results and the potential for NX-5948 to serve as a breakthrough therapy for patients with relapsed chronic lymphocytic leukemia (CLL).

These developments underscore the ongoing efforts and progress within the biotechnology sector to address the urgent need for more effective cancer treatments.