BridgeBio Pharma has launched its latest biotech startup: a company built around an abandoned Novartis cancer drug candidate that is now backed by $65 million in fresh capital.
The new company, QED Therapeutics, aims to pick up where Novartis (NYSE: NVS) left off. Novartis took the drug, infigratinib, as far as mid-stage clinical trials as a treatment for bile duct cancer. But in addition to cancer, QED also aims to develop the compound to treat a rare pediatric bone disorder characterized by dwarfism.
BridgeBio, which like QED is based in Palo Alto, CA, develops drugs by forming companies around compounds… Read more »
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