AstraZeneca Continues Its Month of Immuno-Oncology Deals

AstraZeneca (NYSE:AZN) struck a deal with Peregrine Pharmaceuticals (NASDAQ:PPHM), to add another study to its growing list of PD-L1 checkpoint inhibitor combination trials. This marks the company’s fourth immuno-oncology deal in the past four weeks.
According to Fierce Biotech:

Having inked the deal, Tustin, CA-based Peregrine is to test its phosphatidylserine-signaling pathway inhibitor, bavituximab, in combination with AstraZeneca’s durvalumab (MEDI4736) in patients with solid tumors. The Phase I/Ib study is intended to establish a dosing regimen for the combination, before going on to see if it is safe and effective in the second stage of the trial. AstraZeneca is hoping bavituximab can boost T cell activity through the modulation of phosphatidylserine, a molecule that is found in the tumor microenvironment and suppresses immune activity.
The deal and the motivations for it are reminiscent of the alliance AstraZeneca entered into with Mirati Therapeutics ($MRTX) earlier this month. In both cases, AstraZeneca has searched out a lesser light of the immuno-oncology sector–the market caps of both companies are sub-$400 million–and entered into low-risk deals. The press release outlining the deal with Peregrine is free from financial details and AstraZeneca is taking a hands-off approach to the initial combination trial, leaving its tiny partner to conduct the study.

Click here to read the full article on Fierce Biotech.