Mosaic therapeutics expands pipeline with Astex deal

Mosaic Therapeutics a UK-based oncology company has announced it has in-licensed two clinical-stage oncology programmes from Astex Pharmaceuticals.

The agreement transforms Mosaic from a research-focused entity into a clinical-stage business. Mosaic intends to develop proprietary combination therapies using these assets guided by its own biomarkers.

As part of the deal Astex has acquired a 19% equity stake in Mosaic upfront with a potential for an additional 3% upon reaching clinical milestones. Dr Harren Jhoti Co-founder President and Chief Executive Officer of Astex will also take an observer role on Mosaic’s board.

Mosaic’s platform identifies synergistic drug combinations for specific patient populations aiming for improved efficacy.

The in-licensed assets include ASTX029 an ERK1/2 inhibitor that has completed a phase 2 study and ASTX295 an MDM2 antagonist which has completed a phase 1 study. Both compounds have demonstrated safety and single-agent activity in prior trials.

Dr Edward Hodgkin Managing Partner of Syncona Investment Management Limited and Chair of Mosaic said: “Mosaic’s mission is to bring novel targeted combination medicines to patients who need them.”

He added: “The in licensing of these two clinical-stage assets provides a step change in our development pipeline allowing Mosaic to progress targeted drug combinations in novel biomarker-defined settings and enabling the delivery of precision medicines for patients who currently have few therapeutic options.”

Dr Jhoti commented: “We recognise the significance of Mosaic’s platform which has identified these two assets as anchor components of a pipeline of potential combination products.”

He further stated: “Both drug targets are well-characterised drivers of many cancers and we are excited to be working with the experienced team at Mosaic to expand the Company’s pipeline in combination therapies with high unmet medical need.”