Pyramid Bio wagers $1B to expand oncology pipeline
Privately-held US biotech Pyramid Biosciences has entered into an exclusive license agreement with China’s GeneQuantum Healthcare to develop and commercialize GQ1010, a potential best-in-class antibody drug conjugate (ADC) targeting TROP2.
The license covers worldwide markets, excluding Greater China (mainland China, Hong Kong, Macau, and Taiwan).
The deal puts Pyramid on course to follow in the footsteps of Gilead Sciences (Nasdaq: GILD), whose TROP2-directed ADC Trodelvy (sacituzumab govitecan-hziy) is currently approved for certain breast cancer treatment as well as advanced urothelial cancer. Trodelvy was acquired along with Immunomedics in 2020, in a deal Pworth $21billion.
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