Elevation Oncology

Cargo Therapeutics agreed to be acquired by Concentra Biosciences for approximately $202 million upfront after halting development of its lead CAR-T therapy firicabtagene autoleucel due to poor durability results.

Elevation Oncology has agreed to be acquired by Concentra Biosciences, controlled by hedge fund Tang Capital Partners, for $0.36 per share in cash with additional contingent value rights.

Concentra Biosciences has entered into a definitive merger agreement to acquire Elevation Oncology for $0.36 in cash per share plus contingent value rights.

CSPC Pharmaceutical Group revealed it is in talks with three parties for licensing deals worth up to $5 billion in potential fees, including a targeted cancer therapy and other novel drug candidates.

Elevation Oncology initiated dosing of EO-3021, a Claudin 18.2 ADC, in combination with ramucirumab or dostarlimab for advanced gastric/GEJ cancer patients.

• Elevation Oncology's EO-3021 demonstrated a 42.8% confirmed objective response rate (ORR) in Claudin 18.2-enriched gastric and GEJ cancer patients. • The Phase 1 trial of EO-3021 has progressed into the dose expansion phase, with additional monotherapy data expected in the first half of 2025. • Combination trials of EO-3021 with VEGFR2 and PD-1 inhibitors are set to begin in Q4 2024, with preclinical data presented at ESMO-IO 2024. • The FDA granted Fast Track designation to EO-3021 for advanced or metastatic gastric and GEJ cancers expressing Claudin 18.2 after prior therapy.

• Elevation Oncology's EO-3021 demonstrated a 42.8% confirmed objective response rate (ORR) in Claudin 18.2-enriched gastric and GEJ cancer patients in Phase 1 trials. • Preclinical data presented at ESMO-IO 2024 supports the combination potential of EO-3021 with VEGFR2 or PD-1 inhibitors, showing synergistic anti-tumor activity. • The FDA granted Fast Track designation to EO-3021 for advanced or metastatic gastric and GEJ cancer expressing Claudin 18.2, expediting its development. • Elevation Oncology plans to initiate dosing in the combination portion of the Phase 1 trial of EO-3021 in Q4 2024, with additional monotherapy data expected in 1H 2025.

• The FDA has granted Fast Track designation to EO-3021 for advanced or metastatic gastric and gastroesophageal junction (GEJ) cancer expressing Claudin 18.2. • EO-3021, a differentiated antibody-drug conjugate, targets Claudin 18.2, a protein exposed in malignant transformation of gastric epithelial cells. • The Fast Track designation aims to expedite the development and review of EO-3021, offering potential for priority review and accelerated approval. • Early Phase 1 trial results showed a 42.8% overall response rate in a Claudin 18.2-enriched subset of gastric and GEJ cancer patients.