Already approved for lung cancer, BMS’s ROS1/NTKK inhibitor gets US FDA accelerated approval for solid tumors that are NTRK-fusion positive.

The company will pay $1.2bn in upfront and milestone fees to access Degron’s GlueXplorer platform across multiple therapeutic areas.

The ranks of B7-H3-targeting antibody-drug conjugates under development in China have seen their first dropout, although elsewhere there are two FGFR2b-directed ADCs with first-in-class potential on the horizon. Meanwhile, there have been other discontinuations of KRAS G12C inhibitors and anti-BCMA CAR-T cell therapies in the country, while new players have surfaced in the areas of mRNA cancer vaccines and amyloid-beta-targeting antibodies for Alzheimer’s disease.

The company announced a series B-2 financing of $158m that it plans to use for pivotal Phase II development of TORL-1-23, which it called a first-in-class agent.