Novartis bets $3 billion on experimental breast cancer drug
What's the story
Swiss pharmaceutical giant Novartis has announced its intention to acquire an experimental breast cancer drug candidate, SNV4818, from US-based biotech firm Synnovation Therapeutics. The deal is worth up to $3 billion and will see Novartis pay $2 billion upfront and an additional amount of up to $1 billion based on future development milestones. The acquisition strengthens Novartis's portfolio of targeted cancer therapies.
Drug details
SNV4818 is a selective PI3Kα inhibitor
SNV4818 is a selective PI3Kα inhibitor, a novel class of drugs for treating HR positive/HER2 negative breast cancer and possibly other solid tumors. The drug specifically targets the mutated form of PI3Kα, an enzyme that is often altered in breast and other cancers, while leaving the normal version found in healthy cells untouched. This strategy hopes to avoid side effects associated with current PI3Ka-inhibiting therapies.
Trial results
Novartis's expanding pipeline of targeted cancer therapies
The acquisition of SNV4818 adds to Novartis's expanding pipeline of targeted cancer therapies, including a radioligand therapy candidate that is already being tested. The experimental drug is currently in early-stage trials and has shown promising activity against tumors in lab studies. "While mutated PI3Kα is a well-established driver in HR+/HER2- breast cancer, there remains a challenge in achieving effective pathway inhibition with a tolerable therapeutic profile," said Shreeram Aradhye, Chief Medical Officer at Novartis.
Closing timeline
Deal expected to close in first half of this year
The deal between Novartis and Synnovation Therapeutics is expected to close in the first half of this year. This acquisition marks a significant step for Novartis as it continues to expand its portfolio of innovative cancer therapies. The company hopes that SNV4818 will provide a new treatment option for patients with HR positive/HER2 negative breast cancer, a particularly difficult-to-treat subtype of the disease.