Pinetree Therapeutics Inc., a Massachusetts-based biotechnology company, has announced the signing of an exclusive option and global licensing agreement with UK pharmaceutical giant AstraZeneca (NASDAQ: AZN). The deal focuses on a preclinical epidermal growth factor receptor (EGFR) degrader candidate. According to the agreement, Pinetree will receive an initial payment of USD 45 million, with the total deal value, including development and commercial milestones, exceeding USD 500 million. AstraZeneca will also pay tiered royalties on future sales.
Pinetree’s pan-EGFR degrader candidate was developed utilizing the company’s proprietary AbReptor platform, which enables the creation of multispecific antibodies. This innovative platform combines direct tumor targeting, targeted protein degradation, and immuno-oncology within a single molecule. The molecule that has caught AstraZeneca’s interest is reported to have shown promising preclinical anti-tumor activity, particularly in drug- and tyrosine kinase inhibitor (TKI)-resistant tumors. Furthermore, it has demonstrated enhanced activity when used in combination with existing EGFR inhibitors.- Flcube.com
