At a Glance
- Licensor: AstraZeneca
- Partner: Pinetree Therapeutics
- Asset: PTX-299 (EGFR degrader)
- Payment: $25M option exercise
- Total value: $500M+ milestones + royalties
What happened?
AstraZeneca exercised its option on 29 April 2026 to fully license PTX-299, Pinetree Therapeutics’ preclinical pan-EGFR degrader, paying $25 million. Follows 2024 agreement’s $45M upfront/near-term payments.
Why does it matter?
PTX-299, from Pinetree’s AbReptor platform, degrades EGFR in TKI-resistant tumours, showing enhanced activity with EGFR inhibitors. Addresses resistance in EGFR-driven NSCLC (~15% new cases), expanding AZ’s oncology portfolio beyond Tagrisso.
Who’s behind it?
Pinetree pioneers TPD for membrane proteins; AZ gains global rights. CEO Hojuhn Song highlighted preclinical progress in resistant models.
How was it achieved?
Encouraging preclinical data triggered exercise; builds on 2024 exclusive option. AZ advances to IND/clinical development.
What’s next?
AZ files IND, advances PTX-299; Pinetree eligible for milestones/royalties. Potential combo with EGFR TKIs.
What are people saying?
Pinetree CEO Hojuhn Song: “Important milestone… potential new treatment for EGFR-driven cancers.” AZ SVP Puja Sapra: “Promising TPD modality for EGFR-expressing tumours.”