July 11 Quick Takes: Novartis, BeiGene end TIGIT deal
Plus: MPM’s Crossbow debuts with $80M series A and updates from Septerna, ADC, Kelun-Biotech, Evotec and more
In the latest blow for the anti-TIGIT class of antibodies, BeiGene Ltd. (NASDAQ:BGNE; HKEX:6160) is regaining full rights to ociperlimab through the termination of an option agreement with Novartis AG (SIX:NOVN; NYSE:NVS), and BeiGene is ending one of two ongoing Phase III studies of the checkpoint inhibitor. The company is terminating the Phase III ADvanTIG 301 study, which was evaluating ociperlimab plus BeiGene’s PD-1 inhibitor tislelizumab against PD-1 inhibitor Imfinzi durvalumab following concurrent chemotherapy in patients with Stage III unresectable non-small cell lung cancer (NSCLC). A separate Phase III study of ociperlimab plus tislelizumab as first-line NSCLC treatment, AdvanTIG 302, will continue. The anti-TIGIT class has seen several disappointments in NSCLC including the high-profile Phase III miss for tiragolumab from the Genentech Inc. unit of Roche (SIX:ROG; OTCQX:RHHBY) and a Phase II NSCLC miss for MK-7684A from Merck & Co. Inc. (NYSE:MRK) in March.
Led by CEO Briggs Morrison, MPM BioImpact-built Crossbow Therapeutics Inc. launched with an $80 million series A round to develop TCR-mimicking antibodies capable of binding intracellular tumor antigens presented on cell surface HLA molecules, and of being incorporated into multispecific immunotherapies including T cell engagers. MPM co-led the round with Pfizer Ventures, and the firms were joined by Polaris Partners, BVF Partners, Eli Lilly and Co. (NYSE:LLY), Mirae Asset Venture Investment and Mirae Asset Capital...