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ORIC Pharmaceuticals Expands Precision Oncology Pipeline with Exclusive Worldwide License to Highly Selective Allosteric PRC2 Inhibitors from Mirati Therapeutics
ORIC licenses exclusive worldwide development and commercialization rights to a potential best-in-class PRC2 inhibitor IND filing to support clinical
About this update from Oric Pharmaceuticals, Inc.
[{"type":"text","content":"ORIC licenses exclusive worldwide development and commercialization rights to a potential best-in-class PRC2 inhibitor\n IND filing to support clinical development of ORIC-944 in prostate cancer expected in 2H 2021 ORIC to host conference call today at 4:30 p.m. ET SOUTH SAN FRANCISCO and SAN DIEGO, Aug. 05, 2020 (GLOBE NEWSWIRE) -- ORIC Pharmaceuticals, Inc. (Nasdaq: ORIC), a clinical stage oncology company focused on developing treatments that address mechanisms of therapeutic resistance, today announced it has entered into an exclusive worldwide license agreement with Mirati Therapeutics, Inc. (Nasdaq: MRTX), a leading targeted oncology company dedicated to advancing novel therapeutics. ORIC will have exclusive worldwide rights for the development activities and commercialization of a small molecule allosteric inhibitor program directed towards the polycomb repressive complex 2 (PRC2), a validated oncogenic target across several cancers with promising therapeutic potential in prostate cancer, among other indications. “We are excited to add another program to our pipeline that is well aligned with our mission of overcoming cancer resistance and our expertise in hormone-dependent cancers, key tumor dependencies and precision oncology,” said Jacob Chacko, M.D., president and chief executive officer of ORIC. “Our lead program, ORIC-101, and the rest of our innovative, wholly-owned pipeline of precision medicines have thus far been internally generated by our fully integrated drug discovery and development team. This PRC2 inhibitor is the first externally sourced program we’ve added to our pipeline and, based on work conducted at ORIC, we believe Mirati’s novel approach in targeting PRC2 may address an area of significant unmet medical need in treatment-resistant prostate cancer.” “We are pleased to enter into this agreement with ORIC, which enables the continued advancement of Mirati’s PRC2 inhibitors” said James G. Christensen, Ph.D., executive vice president and chief scientific officer of Mirati. “With ORIC’s focus on novel treatments for prostate cancer, ORIC is an ideal partner to further the research and development of this program.” Mirati has developed highly selective allosteric inhibitors of PRC2, including a lead candidate now designated as ORIC-944, that target its regulatory embryonic ectoderm development (EED) subun...