Carrick Therapeutics raises $60 million through Series C and Pfizer investment

This week, Carrick Therapeutics, an oncology-focused biopharmaceutical company discovering and developing highly differentiated cancer therapeutics, raised a total of $60 million in funding: $25 million through a Series C funding round from existing investors and Pfizer invested an additional $35 million to progress the clinical development of CT-7001/samuraciclib, for the treatment of breast cancer. Pfizer also agreed to collaborate with Carrick by providing global development capabilities and expertise to support Carrick’s clinical study of samuraciclib in combination with fulvestrant for CDK4/6i-resistant HR+, HER2- advanced breast cancer.

“This financing will enable us to accelerate development of our CDK7 and CDK12/13 inhibitors to potentially bring new treatment approaches to patients battling cancer,” said Tim Pearson, Chief Executive Officer of Carrick Therapeutics. “And the collaboration and $35 million investment from Pfizer, which further strengthens our conviction in the potential of samuraciclib to be a first and best-in-class treatment for patients with advanced breast cancer. We are grateful for the new investment from Pfizer and the continued support from existing investors, and we look forward to advancing clinical trials with both of these exciting assets.”

Critical pathways and cancer resistance

“Samuraclib’s clinical development is a class-leading approach to this novel drug target, reinforcing CRUK’s commitment to discovering and progressing new and unproven ideas with the potential to bring more effective treatments to cancer patients,” explained Tony Hickson, Chief Business Officer of Cancer Research Horizons.

CDKs, or Cyclin-dependent kinases, regulate transcription, metabolism and cell differentiation and the capability of Carrick’s team to selectively target these enzymes fosters the emergence of a new drug class for treating different cancers. Cyclin-dependent kinase (or CDK) 7, the target of samuraciclib, regulates the transcription of cancer-causing genes, and promotes uncontrolled cell cycle progression as well as resistance to anti-hormone therapy. Consequently, Carrick’s clinical development programme for samuraciclib has potential beyond breast cancer as evidenced by the existing group of investors including ARCH Venture Partners, Rosetta Capital, Lightstone Ventures, Google Ventures, Cambridge Innovation Capital and Evotec all participating in the Series C funding round. The Company intends to use the proceeds to fund: ongoing and planned samuraciclib clinical trials and the ongoing development of its CDK12/13 inhibitor / Cyclin-K glue-degrader.     

Cutting a path

Launched in 2016, Carrick‘s in-house team collaborates with a network of cancer experts, including Cancer Research UK, and pioneering researchers from several top universities, such as Imperial College London, the Royal College of Surgeons Dublin, Ireland, The Dana-Farber Cancer Institute Boston, US and The University of Pennsylvania Philadelphia, US. The company’s lead asset originates from a multidisciplinary team of chemists, bioligists and clinicians at Imperial College who, funded by Cancer Research UK, discovered ICEC0942 in collaboration with Emory University. Carrick licensed ICE0942, now samuriciclib, from Cancer Research Horizons. Clinical results for samuraciclib used in combination with fulvestrant to treat CDK4/6i-resistant HR+, HER2- advanced breast cancer, presented in 2021, demonstrated safety and early evidence of anti-tumour activity. This indication has attracted recent financial and operational support from Pfizer. Carrick are also conducting Phase 1 trials with samuraciclib for treating Triple Negative Breast Cancer and Androgen Resistant Prostate Cancer.