Seattle Genetics has completed the purchase of biopharmaceutical firm Cascadian Therapeutics for $614m, under a definitive merger agreement signed by the companies in January this year.
The merger is part of Seattle Genetics’ strategy to become a global, multi-product oncology company and is expected to boost its late-stage cancer drug pipeline.
The most advanced program in Cascadian Therapeutics’ pipeline is an investigational oral tyrosine kinase inhibitor (TKI) called tucatinib, which is selective for HER2 growth factor receptor overexpressed in various types of cancer.
Currently, tucatinib is in a randomised global trial involving subjects suffering from HER2-positive (HER2+) metastatic breast cancer, including those with or without brain metastases.
Patient recruitment for this trial is scheduled to be completed next year.
Seattle Genetics president and CEO Clay Siegall said: “Tucatinib, which is in an ongoing pivotal trial called HER2CLIMB, has the potential to provide a differentiated approach to treating HER2-positive metastatic breast cancer based on its activity and tolerability profile.
“In addition, it may have a role in earlier lines of metastatic breast cancer therapy and in other solid tumours. We look forward to joining efforts with the Cascadian team towards our common goal of improving outcomes for people with cancer.”
Tucatinib has been assessed as a monotherapy and a combination therapy with chemotherapy and other HER2-directed agents such as Herceptin (trastuzumab) and Kadcyla (trastuzumab emtansine).
According to data from Phase Ib clinical trials, the combination of tucatinib, capecitabine and trastuzumab demonstrated a favourable tolerability and efficacy profile in patients with and without brain metastases.