Erasca Announces Strategic In-Licensing of RAS-Targeting Franchise
SAN DIEGO, May 16, 2024 (GLOBE NEWSWIRE) -- Erasca, Inc. (Nasdaq: ERAS), a clinical-stage precision oncology company singularly focused on discovering, developing, and commercializing therapies for patients with RAS/MAPK pathway-driven cancers, today announced it has entered into exclusive license agreements for two preclinical RAS programs—a potential best-in-class pan-RAS molecular glue (ERAS-0015) and a potential first-in-class pan-KRAS inhibitor (ERAS-4001)—and provided a pipeline update. ERAS-0015 and ERAS-4001 are highly potent, orally bioavailable molecules with complementary RAS inhibitory mechanisms that have the potential to address unmet needs in nearly 2.7 million patients who are diagnosed annually globally with RAS-mutant (RASm) tumors, of which over 2.2 million patients are diagnosed with KRAS-mutant (KRASm) tumors.
- As separately announced, Erasca has priced an equity offering of $160 million with a high quality group of new and existing healthcare-focused investors.
- “We’re thrilled to add ERAS-0015 and ERAS-4001 to our pipeline.
- This is undoubtedly a challenging time for our highly talented employees, particularly those affected by these changes.
- The live webcast and replay may be accessed by visiting Erasca’s website at Erasca.com/events .