In the wake of a patient’s death, the U.S. FDA has placed a partial clinical hold on Foghorn Therapeutics Inc.’s phase I study of FHD-286 in treating relapsed and/or refractory acute myelogenous leukemia (r/r AML) and myelodysplastic syndrome.
Foghorn Therapeutics Inc. is receiving $300 million up front in cash in its new collaboration with Loxo Oncology at Lilly to develop oncology medicines. Foghorn could bring in up to $1.3 billion in development and commercialization milestones. In addition, Lilly will invest $80 million in Foghorn.
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.
Privately held Foghorn Therapeutics Inc., of Cambridge, Mass., cut a collaboration deal with Merck & Co. Inc. to discover and develop therapeutics targeting the chromatin regulatory system in oncology that could eventually bring in as much as $450 million.
