The pan-RAS space continues to gain momentum, as AbbVie signs up for a shot at entering a field with the potential to drastically alter the treatment of certain cancers.
The Chicago-area pharma giant has signed an agreement that gives it the exclusive option to acquire a little-known biotech named Kestrel Therapeutics for up to $1.45 billion, according to a Tuesday
press release
from Kestrel. The drug will have to hit certain undisclosed development milestones to bring the acquisition to fruition.
The move comes a few months after AbbVie was reportedly nearing a deal to buy Revolution Medicines, but AbbVie later
denied
those rumors.
Revolution Medicines
’ standout data in pancreatic cancer energized the pan-RAS landscape. Then, Erasca got into the act with data of its own — and an accompanying
legal battle
that started to brew on Monday.
The deal was signed recently, Kestrel CEO Frank Haluska told
Endpoints News
in an interview.
“We essentially, over the course of 2025, ran a parallel process,” Haluska said. “We both looked for Series B funding and we entertained discussions with a variety of pharma.”
They waited until dosing the first patient in their Phase 1 trial last week to announce the news, which happens to come after the buzz from Revolution Medicines and Erasca.
“That’s one of the rationales for announcing now,” Haluska said. “There’s been nothing but RAS in the news through AACR and probably through ASCO as well, because of a number of competitors. So this is a good time to go public with this relationship.”
There were few details about Kestrel prior to Tuesday’s announcement.
The Boston-area startup was founded in 2020, when Haluska acquired a RAS asset from his prior company, Anchiano Therapeutics. He collected a Series A of undisclosed size from Pfizer Ventures, Santé Health Ventures, Cormorant Asset Management and S32 in 2021. Cormorant is also backing another pan-KRAS drug at BridgeBio Oncology Therapeutics, which just
swapped CEOs
to speed up its work in this hot area.
After using that Anchiano RAS asset as the basis for its initial funding, Kestrel’s internal discovery team then created a new pan-KRAS inhibitor.
The first patient in a Phase 1 trial of the inhibitor, dubbed KST-6051, was dosed last Tuesday, Haluska said.
The
trial
is testing the experimental medicine in patients with pancreatic, colorectal and non-small cell lung cancer, Haluska said. Eventually, they could test the drug in “some of the lesser-attended-to indications” like biliary tract and endometrial cancers, and in patients for which prior RAS inhibitors didn’t work, he said.
The biotech believes it has a golden ticket on its hands with a molecule that binds directly to KRAS in both the active and inactive states.
Watertown, MA-based Kestrel is among a cohort of biotechs looking to develop a medicine for multiple RAS mutations. The existing FDA-approved KRAS drugs are constrained to one disease-causing mutation.
“While earlier KRAS inhibitors targeted specific mutations, a new wave of pan-KRAS inhibitors are exploring the potential for broader patient impact,” Eleni Lagkadinou, AbbVie VP of oncology early development, said in a press release. “We’re looking forward to exploring how these advances can help complement our pipeline of antibody-drug conjugates and immunotherapies to accelerate innovation for patients.”
AbbVie has beefed up its oncology work in recent years via alliances with
RemeGen
,
Simcere
,
Xilio Therapeutics
and others.
Editor’s note: This story was updated to include additional details from an interview with Kestrel Therapeutics CEO Frank Haluska.