METiS Pharmaceuticals brings in a pan-RAF inhibitor for nearly $500 million; Apollomics
Sarina Yang ·09/15/2022
News


Top news story of the day:

 

METiS Pharmaceuticals brings in a pan-RAF inhibitor for nearly $500 million

 

METiS Pharmaceuticals announced that it has entered into a licensing agreement with South Korean Bio startup Voronoi. Under the terms, METiS will receive an exclusive license to develop and commercialize Voronoi's Pan-Raf inhibitor program worldwide. Voronoi will receive an initial payment of $1.7 million and will also be eligible for milestone payments of up to $480.5 million as well as a share of sales.

 

Chris Lai, co-founder and CEO of METiS, said, We see this program as a potential best-in-class asset to address the highly unmet clinical needs of Class II and Class III BRAF mutated cancers, particularly those with CNS metastases. In addition, we see this as a foundational asset for our oncology portfolio.

 

BRAF is a protein kinase involved in cancer cell growth, and BRAF mutations are the most common mutations in tumor cells. Although several BRAF v600E inhibitors have been approved, this type of mutation only accounts for 45% of the total BRAF mutation types. Class II and III mutations account for 55% of BRAF mutations, and new drugs urgently need to be developed.

 

METiS is an innovative AI-driven drug delivery and formulation development company operating concurrently in Hangzhou, Beijing and Boston. The team members include drug development scientists from Regeneron, Amgen and Novartis, as well as experts in the field of AI and computing. The company is now primarily focused on small molecule and nucleic acid drug therapeutics.

 

The company was incubated by XtalPi in the early stage and completed two consecutive rounds of financing in the first half of this year, totaling $150 million. In May 2022, METiS announced that it had officially joined Roche Accelerator to explore cooperation with Roche Shanghai Innovation Center on formulation development and optimization.

 

 

In other news:

 

Apollomics announced a definitive transaction with Maxpro, a Nasdaq-listed shell company. After the transaction, Apollomics will complete its business combination with Maxpro in Q1 2023 and list on Nasdaq with plans to raise $105 million.

 

By Sarina Yang


Keywords: METiS Pharmaceuticals Apollomics
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