Coherus BioSciences has concluded the acquisition of clinical-stage immuno-oncology (I-O) company Surface Oncology in a deal totalling nearly $66.9m.
The deal value comprises $40m, along with Surface’s net cash at deal closing of $26.9m.
Surface Oncology focuses on the development of immunotherapies that act on the microenvironment of the tumour.
With the deal closing, Surface became a completely owned Coherus subsidiary.
Following the takeover, Coherus expanded its I-O pipeline by adding clinical-stage antibody immunotherapy candidates of Surface, Casdozokitug (SRF388 / casdozo) and CHS-114 (SRF114).
These product candidates can boost the innate and adaptive immune responses to facilitate a strong immunologic response and disease outcomes in cancer patients.
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Casdozokitug is a new antibody targeting IL-27 and is presently being analysed in Phase I/II clinical trials for lung and liver cancer.
An anti-CCR8 antibody, CHS-114 is being evaluated in Phase I/II study as a single agent in advanced solid tumour patients.
Coherus BioSciences chairman and CEO Denny Lanfear said: “The addition of the first-in-class IL-27 targeted antibody, casdozo, and the potential best-in-class CCR8 targeted antibody CHS-114, marks Coherus’ transition to a next-generation immuno-oncology company focused on the tumour microenvironment.
“We will now focus our development efforts on delivering breakthrough survival benefits for cancer patients, beyond the efficacy seen with existing chemotherapy plus checkpoints regimens.”
Coherus has an in-licensing deal in place with Shanghai Junshi Biosciences to develop anti-PD-1 antibody toripalimab in Canada and the US.
Its pipeline also comprises a TIGIT-targeted antibody, CHS-006, and a preclinical asset, CHS-1000.