BridgeBio spins out oncology unit with $200M in backing for RAS assets

Bridge­Bio, a biotech known for its mod­el of set­ting up sub­sidiaries to house its R&D pro­grams, is split­ting off its on­col­o­gy unit with $200 mil­lion in sup­port from 11 in­vestors.

Cor­morant As­set Man­age­ment, which backed Bridge­Bio as a start­up, led the fi­nanc­ing for the spin­out, which will be known as Bridge­Bio On­col­o­gy Ther­a­peu­tics, or BBOT. It was known in­side Bridge­Bio as TheRas, for its re­search in RAS mu­ta­tions, one of the most com­mon dri­vers of can­cer.

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