Endpoints | Katherine Lewin 2 Dec 2022
In a big week for Carrick Therapeutics, the company announced $60 million in funding for its lead breast cancer drug and development of a second program, as well as a collaboration with Pfizer for combo development.
The $35 million from Pfizer comes with an agreement under which Pfizer will support Carrick’s Phase II study of samuraciclib in combination with AstraZeneca’s Faslodex for advanced breast cancer. Along with the investment, Adam Schayowitz, vice president and development head of breast cancer, colorectal cancer and melanoma at Pfizer global product development, will join Carrick’s scientific advisory board.
Samuraciclib has been put on the fast track by the FDA for use in breast cancer.
Carrick also announced Thursday that it raised $25 million in Series C financing to fund samuraciclib clinical trials as well as ongoing development of cancer treatments, and for working capital and corporate purposes.
ARCH Venture Partners, Rosetta Capital, Lightstone Ventures, Google Ventures, Cambridge Innovation Capital, and Evotec, all existing investors, contributed to the Series C round.
“We believe samuraciclib has the potential to play a meaningful role in the treatment of HR+, HER2- breast cancer,” Chris Boshoff, Pfizer’s chief development officer of oncology and rare disease, said in a statement.
Carrick, an oncology-focused biopharmaceutical company, hit the scene in 2016 with a $95 million startup round and a focus on cancer treatments. It’s since wooed George Golumbeski of Celgene fame to the board chair role. Samuraciclib is the most advanced oral CDK7 inhibitor in clinical development. Along with breast cancer, the drug is being evaluated in prostate cancer with further potential in pancreatic, ovarian and colorectal cancers.