Coherus to acquire Surface Oncology

16 June 2023

Aiming to boost its immune-oncology pipeline, Coherus BioSciences (Nasdaq: CHRS) today announced it will acquire Surface Oncology (Nasdaq: SURF), with the news sending the share of the latter roaring up more than 16% to $0.86. Coherus stock, on the other hand, fell as much as 18.2% to $4.41.

Surface Oncology is a clinical-stage I-O company developing next-generation immunotherapies that target the tumor microenvironment.

The Surface acquisition adds two differentiated clinical stage assets to Coherus’ novel I-O pipeline: SRF388, a novel interleukin (IL)-27-targeted antibody currently being evaluated in Phase II clinical trials in lung cancer and liver cancer, and SFR114, a CCR8-targeted antibody currently in a Phase I/II study as a monotherapy in patients with advanced solid tumors.

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