Nuvation snaps up AnHeart to accelerate cancer portfolio’s to-market timeline

25 Mar 2024
firstwordpharma.com
Phase 1AcquisitionPhase 2Breakthrough Therapy
Nuvation Bio announced plans to acquire AnHeart Therapeutics, a move that will add a cancer candidate on the verge of approval to the former’s early-stage oncology pipeline.
The takeout “reflects Nuvation Bio’s continued commitment to developing therapies for patients with the most difficult-to-treat cancers,” CEO David Hung said.
Driving the acquisition is AnHeart’s lead candidate, ROS1 tyrosine kinase inhibitor (TKI) taletrectinib, which is under review in China to treat adults with locally advanced or metastatic ROS1-positive non-small-cell lung cancer (NSCLC)ROS1-positive non-small-cell lung cancer (NSCLC) who have not previously received a ROS1 TKIs, as well as for those who have.
Innovent Biologics has exclusive rights to co-develop and commercialise taletrectinib in China under a 2021 deal.
Taletrectinib, which nabbed FDA breakthrough therapy designation in 2022, has “a potentially best-in-class profile that may overcome the significant limitations of existing therapies,” Hung added.
Nuvation will continue to run a pair of pivotal NSCLC Phase II trials of the compound: TRUST-I in China, and the global TRUST-II study.
Additionally, Nuvation said it will continue development of AnHeart’s safusidenib, an oral mIDH1 inhibitor in a Phase II study for grades 2 and 3 IDH1-mutant glioma.
Nuvation’s own pipeline includes two clinical candidates for certain advanced solid tumours. NUV-868 is a BET inhibitorBET inhibitor in Phase I testing, and NUV-1511 is a small molecule drug-drug conjugate in a Phase I dose-escalation study.
Under the all-stock deal, AnHeart securityholders will receive about 850,000 shares of Nuvation series A non-voting convertible preferred stock, as well as 43.6 million shares, plus warrants for about 2.9 million shares, of class A stock. The warrants are exercisable for $11.50 per share.
After the acquisition closes, which is expected next quarter, former AnHeart shareholders will own about 33% of Nuvation. AnHeart’s US and Chinese employees are expected to join Nuvation as well.
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