Erasca Inc. has synthesized tricyclic pyridones and pyrimidones acting as GTPase KRAS (G12C mutant) inhibitors reported to be useful for the treatment of cancer.
Erasca Inc. has received FDA clearance of its IND application for ERAS-3490, an orally available small-molecule KRAS G12C inhibitor designed to have high central nervous system (CNS) penetration for the treatment of KRAS G12C-mutated solid tumors, including non-small-cell lung cancer (NSCLC).
Erasca Inc. agreed to give Novartis AG $20 million cash up front and company shares (NASDAQ:ERAS) worth $80 million for an exclusive global license to naporafenib, a pan-RAF inhibitor for treating RAS/MAPK pathway-driven tumors, Erasca’s sweet spot. Erasca CEO Jonathan Lim told investors Dec. 9 that the therapy is complementary to the company’s portfolio, which includes 11 development programs targeting the pathway.
Epidermal growth factor receptor (EGFR) is a target in many cancers, but EGFR inhibitors have displayed little utility in treating glioblastoma (GBM) due to limited blood-brain barrier (BBB) penetration.
Three companies that began trading on Nasdaq on July 16 are contributing to this year’s record-setting pace of biotech IPOs. Erasca Inc., which is looking to raise $300 million, led the pack with shares (NASDAQ:ERAS) ending the day at $17.43, an 8.94% rise from the opening asking price of $16.
According to the BioWorld Cancer Financings Report, 2020 proved to be a record year in terms of capital raised by biopharmaceutical companies working on therapeutics for cancer indications.
