Catching up in multiple myeloma, Pfizer taps ORIC for BCMA combo study
Pfizer has found a Phase II candidate that it believes would pair well with its experimental BCMA drug, and it’s infusing $25 million into the biotech behind the therapy.
As part of a new clinical development collaboration, Pfizer will test elranatamab, a BCMA CD3-targeted bispecific, in combination with ORIC Pharmaceuticals’ ORIC-533, a small molecule inhibitor of CD73.
ORIC is selling shares to Pfizer at a premium, but the price of $4.65 per share is still less than half of where it started the year. Co-founded by inventors of Xtandi and Erleada, the South San Francisco biotech’s stated mission is to tackle resistance to cancer drugs. But its initial lead program flunked early studies in prostate cancer, tanking shares and leading to its termination.
Unlock this article instantly by becoming a free subscriber.
You’ll get access to free articles each month, plus you can customize what newsletters get delivered to your inbox each week, including breaking news.