Catching up in multiple myeloma, Pfizer taps ORIC for BCMA combo study

Pfizer has found a Phase II candidate that it believes would pair well with its experimental BCMA drug, and it’s infusing $25 million into the biotech behind the therapy.

As part of a new clinical development collaboration, Pfizer will test elranatamab, a BCMA CD3-targeted bispecific, in combination with ORIC Pharmaceuticals’ ORIC-533, a small molecule inhibitor of CD73.

ORIC is selling shares to Pfizer at a premium, but the price of $4.65 per share is still less than half of where it started the year. Co-founded by inventors of Xtandi and Erleada, the South San Francisco biotech’s stated mission is to tackle resistance to cancer drugs. But its initial lead program flunked early studies in prostate cancer, tanking shares and leading to its termination.

ORIC-533 is one of three programs, all in Phase Ib monotherapy trials, that are now taking the lead spot. While other companies — including, prominently, Gilead and its partner Arcus — have developed CD73 inhibitors for other cancers, ORIC is hoping to be first in multiple myeloma.

Jeff Settleman

“Given the high unmet need for patients with multiple myeloma and potential for relapse, we believe new treatments and combinations with novel mechanisms of action that counter mechanisms leading to resistance are essential to improving outcomes,” said Jeff Settleman, CSO, oncology research & development at Pfizer.

Settleman is also joining ORIC’s scientific advisory board.

With Pfizer’s help, ORIC will kick-start a Phase II combination study of ORIC-533 plus elranatamab. It will keep full ownership and control of the drug, the biotech added.

shares
pharmaceuticals
biotech