Abingworth, backed by Carlyle, plans to invest up to $210 million in Gilead Sciences to enhance the utilization of the cancer treatment drug Trodelvy. Since its U.S. approval as a breast cancer treatment in April 2020, Trodelvy has been a focal point for Gilead, particularly following its $21 billion acquisition of Immunomedics. This substantial investment aims to advance the application of Trodelvy, especially in targeting non-small cell lung cancer, highlighting a strategic effort to expand the drug’s impact in cancer treatment.
In January, Trodelvy faced a setback when it failed to meet the primary endpoint in a Phase 3 lung cancer clinical trial. However, the drug showed promising results in improving survival rates compared to standard chemotherapy, albeit without reaching statistical significance. A joint steering committee has been established between Gilead and Launch Therapeutics, a clinical development company supported by Abingworth and Carlyle, underscoring their confidence in Trodelvy’s efficacy and potential. With extensive expertise in drug development, Launch Therapeutics aims to leverage this partnership to advance Trodelvy to a new milestone in therapeutic innovation. Gilead retains full rights to Trodelvy and has agreed to pay fixed fees and royalties based on U.S. sales if new tumor types are approved.
The investment reflects an intriguing move for Gilead, a company with considerable financial resources, highlighting Abingworth’s strategic investment model in late-stage drug development. Abingworth’s Clinical Co-Development Co-Investment Fund, which raised $356 million last year, focuses on supporting medications poised for market approval. Trodelvy represents an advanced therapeutic approach, combining targeted antibodies with potent chemicals to deliver safer, more effective cancer treatment. This collaboration marks a significant step in cancer therapy innovation, bolstering the development and commercialization of targeted treatments.
