BridgeBio Pharma has announced the launch of BridgeBio Oncology Therapeutics (BBOT), supported by $200m of private external capital.

The investment will expedite the development of the company’s precision oncology pipeline, focusing on new cancer treatments.

The private financing round that facilitated the launch was led by Cormorant Asset Management and Omega Funds.

A consortium of investors, including affiliates of Deerfield Management, Google Ventures, Wellington Management, EcoR1 Capital and Enavate Sciences, took part.

BBOT will advance three initial programmes: BBO-8520, BBO-10203 and BBO-11818.

BBO-8520 is being analysed in the ONKORAS-101 trial, which is currently enrolling patients with KRASG12C mutant non-small cell lung cancer.

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BBOT plans to submit an investigational new drug application for BBO-10203 in the second quarter of 2024 and, subject to clearance, will begin patient enrolment later in the year.

The company expects to file an investigational new drug application for BBO-11818 in early 2025.

Alongside these assets, BBOT will continue the development of a discovery-stage research programme targeting additional oncogenic drivers within the RAS [rat sarcoma] and PI3K pathways.

Dr Eli Wallace will serve as CEO of BBOT and Pedro Beltran will become chief scientific officer.

Dr Wallace stated: “We are excited to progress our portfolio of novel small molecules to treat patients suffering from RAS pathway malignancies.

“In conjunction with BridgeBio and an amazing suite of investors, we look forward to seeing all three of our programmes progress into the clinic over the next 12 months.”

Earlier this year, BridgeBio secured strategic financing of $1.25bn from Blue Owl Capital and the Canada Pension Plan Investment Board (CPP Investments) for genetic therapies.