Suggestions
BMS inherited the asset in a $4.8B Mirati deal and discontinued it after Phase 1 on PK, not on a scientific kill. Large-cap portfolio discards of technically failed, biologically intact oncology assets are the classic out-license. The counterparty already said the molecule was not unsafe. What a licensee buys is the right to fix exposure — formulation, prodrug, parenteral route, or a combination that lowers the required dose — and then run the Phase 2 that never started.
Route: BMS inherited the asset in a $4.8B Mirati deal and discontinued it after Phase 1 on PK, not on a scientific kill.
Bristol Myers Squibb (via the 2023 Mirati acquisition) · mrtx-1133 · Phase 1 · KRAS G12D solid tumors — pancreatic ductal adenocarcinoma first, also colorectal and NSCLC · analysed 4w ago
Capital view · $10–30M
A $30M commitment funds through Phase 2 proof-of-concept ($27.6M cumulative) — not approval. Reaching approval needs about $119.3M total, roughly $89.3M beyond this tranche.
An IND-ready biologic with peer-reviewed oncology activity, two unused orphan designations, and no company running a cancer trial. The regulatory work was done; the trial was not. What you buy is the molecule, the IND and the ODD letters — then you run the first-in-human study in the setting the oncology data point to.
Route: An IND-ready biologic with peer-reviewed oncology activity, two unused orphan designations, and no company running a cancer trial.
D&D Pharmatech / Theraly Fibrosis · tly012 · N/A · DR5-expressing gastrointestinal cancers — pancreatic ductal adenocarcinoma and gastric adenocarcinoma in the published preclinical work. The two existing FDA orphan designations are in fibrotic disease: systemic sclerosis and chronic pancreatitis. · analysed 4w ago
Capital view · $10–30M
A $30M commitment funds through Phase 2 proof-of-concept ($24.7M cumulative) — not approval. Reaching approval needs about $116.4M total, roughly $86.4M beyond this tranche.
