BridgeBio Launches KRAS-Focused Cancer Newco with $200M in VC Funding

BridgeBio, currently focused on advancing its late-stage cardiorenal and genetic disorder treatments, has decided to launch a new subsidiary named BridgeBio Oncology Therapeutics (BBOT). This new entity, dedicated to progressing early-stage cancer therapies, emerged from the former TheRas subsidiary and secured $200 million in private funding to support its endeavors. The financing round was led by Cormorant Asset Management and co-led by Omega Funds, with further investments from Deerfield Management, Google Ventures, EcoR1 Capital, Wellington Management, Enavate Sciences, Surveyor Capital, Aisling Capital, Casdin Capital, and Longwood Fund.

Eli Wallace, previously the CEO of oncology research and development at BridgeBio, will take on the role of chief executive officer of BBOT. Pedro Beltran, who formerly led oncology biology, will serve as the chief scientific officer. BBOT's main focus is on developing innovative treatments for cancer by targeting KRAS mutations and other oncogenic pathways.

The company's lead candidate, KRAS G12C inhibitor BBO-8520, has recently been approved for human testing. The Phase I ONKORAS-101 trial is currently enrolling patients with KRAS G12C mutant non-small-cell lung cancer. These patients will be treated with either BBO-8520 alone or in combination with Merck & Co’s PD-1 inhibitor Keytruda (pembrolizumab).

BBOT is also planning to submit a request to the FDA within this quarter to commence trials for their second candidate, BBO-10203. This agent is designed to block interactions between PI3Kα and RAS, thereby inhibiting PI3Kα/AKT effector signaling in tumors while avoiding glucose metabolic signaling to prevent hyperglycemia.

The third program in BBOT’s pipeline is BBO-11818, a pan-KRAS inhibitor that targets KRAS G12X in both its active and inactive states. This treatment is expected to enter clinical trials next year. Beyond these key programs, BBOT aims to identify and develop new therapies targeting other oncogenic drivers within the RAS and PI3K pathways.

According to Raymond Kelleher from Cormorant Asset Management, BBOT's innovative approaches to chemical biology, particularly in inhibiting a wide range of KRAS mutations and bypass mechanisms that exploit PI3K signaling, hold the potential to revolutionize cancer treatment. The establishment of BBOT as an independent entity underscores BridgeBio's commitment to pioneering advancements in oncology and enhancing therapeutic options for cancer patients.