Olema, Novartis to Collaborate on Breast Cancer with $250 M Equity Private Placement

 

• Clinical trial collaboration and supply agreement enables pivotal Phase 3 OPERA-02 clinical trial of palazestrant in combination with ribociclib in frontline ER+/HER2- metastatic breast cancer; trial initiation expected in mid-2025
• $250.0 million equity private placement with participation by new and existing investors including Adage Capital Partners LP, Bain Capital Life Sciences, BVF Partners L.P., Driehaus Capital Management, Janus Henderson Investors, Paradigm BioCapital Advisors, Wellington Management, Woodline Partners LP, and a large investment manager
• Olema well capitalized to fund operations beyond key milestones including OPERA-01 Phase 3 top-line data in 2026, initial OP-3136 KAT6 Phase 1/2 monotherapy and combination data, and execution of the Phase 3 OPERA-02 clinical trial

https://www.globenewswire.com/news-release/2024/12/02/2989654/0/en/Olema-Oncology-Announces-New-Clinical-Trial-Collaboration-and-Supply-Agreement-with-Novartis-in-Frontline-Metastatic-Breast-Cancer-as-well-as-250-Million-Equity-Private-Placement.html