Erasca signs cancer research deal with Lilly

11 March 2022

US clinical-stage precision oncology clinical-stage precision oncology company Erasca (Nasdaq: ERAS) yesterday said that it has entered into a clinical trial collaboration and supply agreement with Eli Lilly (NYSE: LLY) for Lilly’s anti-EGFR antibody cetuximab (brand name Erbitux).

Initial market reaction was positive, with San Diego-based Erasca’s shares rising 10%, but the stock closed down 2.2% at $11.71 on Thursday.

This agreement will support the ongoing Phase Ib/II HERKULES-3 trial, a clinical proof-of-concept study evaluating ERAS-007, an oral ERK1/2 inhibitor, in various combinations, including with the Pfizer (NYSE: PFE) BRAF inhibitor Braftovi (encorafenib) and cetuximab for the treatment of patients with BRAF V600E-mutant metastatic colorectal cancer (mCRC). Erasca will sponsor the study, and Lilly will supply cetuximab at no cost. The two companies will form a joint committee to review the clinical trial results.

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