SpringWorks Therapeutics is a precision-medicine biotech focused on targeted oncology programs led by nirogacestat, a gamma secretase inhibitor being developed as a potentiator of BCMA-targeted therapies. The company is studying nirogacestat in combination with GSK’s anti-BCMA ADC Blenrep in relapsed/refractory multiple myeloma, exploring use in earlier lines of therapy, and testing combinations with BCMA bispecific antibodies and CAR-T therapies from AbbVie and Pfizer. Its pipeline also includes the MEK inhibitor mirdametinib and a RAF fusion/dimer inhibitor, BGB-3245. SpringWorks expects its first drug launches next year and continues to advance a diversified clinical pipeline. Financially, the company announced a $225 million financing and a separate $75 million equity investment tied to an expanded collaboration with GSK. GSK will continue to fund most development costs and has pledged up to $550 million in additional milestone payments to support further studies and potential commercialization of the combination. SpringWorks Therapeutics is a clinical-stage biopharmaceutical company launched in 2017 that focuses on therapies for severe rare diseases and targeted oncology. Its lead development programs include nirogacestat, a gamma secretase inhibitor for desmoid tumors, and PD-0325901, a MEK 1/2 inhibitor for neurofibromatosis type 1-associated plexiform neurofibromas. PD-0325901 is also described as a potential backbone for combination therapies to treat metastatic solid tumors. The company began with licensed clinical therapies from Pfizer and leverages partnerships with patient groups, industry and academia. SpringWorks plans to advance its two late-stage programs toward potential regulatory approval and commercialization and expects two therapies to enter potentially pivotal studies in the first half of 2019. The $125 million Series B financing will support those programs, expansion of emerging targeted oncology programs, and future in-licensing and clinical collaborations. SpringWorks Therapeutics launched with rights to four clinical-stage experimental therapies from Pfizer and a stated focus on diseases with high unmet need. The company plans Phase 3 programs for nirogacestat (PF-03084014) in desmoid tumor and for the MEK 1/2 inhibitor PD-0325901 in NF1, and intends to assess senicapoc (PF-05416266) for hereditary xerocytosis and PF-0445784 (a FAAH inhibitor) for PTSD. SpringWorks says it will expand its pipeline by partnering with other life science companies and academic institutions and will work collaboratively with patient organizations such as the Desmoid Tumor Research Foundation, the Children’s Tumor Foundation, and Cohen Veterans Bioscience. Pfizer contributed both equity capital and royalty- and milestone-bearing licenses to the experimental therapies as part of the arrangement. The company emphasizes a collaborative business model designed to deliver both social and financial returns via partnerships with scientists, biopharma partners, patient groups, funders and philanthropists. The organization is led by industry veterans including Founder and President Lara S. Sullivan; the announcement was datelined New York.

Total raised

$303M

Funding rounds

3

Latest round

Equity

Latest activity

Sep 2022