Erasca In-Licenses RAS-Targeting Franchise

Erasca, Inc., a clinical-stage precision oncology company focusing on RAS/MAPK pathway-driven cancers, announced the exclusive licensing of two promising preclinical RAS programs: the pan-RAS molecular glue ERAS-0015 and the pan-KRAS inhibitor ERAS-4001. Both compounds are highly potent, orally bioavailable, and have mechanisms that could address unmet needs in the approximately 2.7 million patients diagnosed annually with RAS-mutant tumors, including over 2.2 million patients with KRAS-mutant tumors.

In conjunction, Erasca has also announced an equity offering priced at $160 million, attracting high-quality healthcare-focused investors. This strategic move aligns with Erasca’s mission to develop and commercialize innovative therapies for cancer patients.

ERAS-0015 has shown significantly greater potency in preclinical studies compared to other pan-RAS molecular glues currently in clinical development. It also demonstrated favorable pharmacokinetic properties across multiple animal species. Under the terms of the license agreement with Joyo Pharmatech Co., Ltd., Erasca will pay an upfront fee of $12.5 million, along with potential milestone payments totaling up to $176.5 million and a royalty on future sales.

ERAS-4001 is a selective KRAS inhibitor designed to provide an improved therapeutic window and reduce resistance compared to mutant-selective approaches. The license agreement with Medshine Discovery, Inc. involves an upfront payment of $10 million, potential milestone payments up to $160 million, and a royalty on future sales.

Erasca’s CEO, Jonathan E. Lim, M.D., expressed enthusiasm about the additions to the company’s pipeline, emphasizing their potential to address significant unmet needs in cancer treatment. He highlighted the opportunity to combine these molecules with distinct mechanisms to effectively inhibit RAS and shut down MAPK signaling for patients with common RAS mutations.

As part of the strategic restructuring, Erasca will deprioritize or externalize resources for certain programs, including ERAS-007 and ERAS-801. This decision has led to workforce reductions, impacting approximately 18% of Erasca’s employees, primarily those involved in drug discovery functions and programs deemed lower priority. The company is committed to supporting affected employees with comprehensive severance packages and career transition services.

Erasca has outlined several key upcoming milestones, including:
- Naporafenib (pan-RAF inhibitor): Initial Phase 1b data in Q4 2024; Phase 3 trial initiation in Q2 2024.
- ERAS-0015 (pan-RAS molecular glue): IND filing in H1 2025; initial Phase 1 data in 2026.
- ERAS-4001 (pan-KRAS inhibitor): IND filing in Q1 2025; initial Phase 1 data in 2026.

These strategic moves and milestones reflect Erasca's focused approach to developing therapies for RAS/MAPK pathway-driven cancers, aiming to bring new treatment options to patients with high unmet needs.