BridgeBio Completes 8th General Meeting of Shareholders... "BBT-207 IND Submission Within This Year"

Bridge Biotherapeutics held its 8th regular general meeting of shareholders on the 23rd and reported on last year's business performance and progress in new drug research and development, the company announced on the 24th.

The 8th regular shareholders' meeting of Bridge Biotherapeutics is being held on the 23rd.
[Photo by Bridge Biotherapeutics]

According to Bridge Bio's consolidated financial statements for last year, the results were ▲sales of 3 billion KRW ▲net loss of 41.7 billion KRW ▲ordinary research and development expenses of 32.1 billion KRW.

At this general meeting, the agenda items including ▲approval of financial statements ▲partial amendment of the articles of incorporation ▲appointment of outside directors and audit committee members ▲approval of the limit on directors' remuneration ▲granting of stock options were all submitted and approved as originally proposed. Lee Dong-ho, CEO of Bio Designers, was newly appointed as an outside director and audit committee member, and Baek Seung-yeop, Senior Advisor at Sustainvest, was reappointed as an outside director and audit committee member.

The company self-assessed that over the past year, it made progress toward becoming a global biotech by steadily advancing clinical development projects focusing on cancer and fibrotic diseases as key strategic disease areas, strengthening its pipeline through both discovery of candidate substances via its own research institute and introduction of external projects.

The next-generation non-small cell lung cancer (NSCLC) treatment candidate 'BBT-176' under development targets the C797S-positive triple mutation that can arise as resistance after treatment with third-generation epidermal growth factor receptor (EGFR) inhibitors such as Osimertinib. In a Phase 1 dose-escalation trial, a partial response (PR) case was observed with tumor size reduction of up to 51%. Currently, preparations for efficient entry into Phase 2 clinical trials are underway through additional expansion cohorts, while accumulating data to support global business development.

Additionally, 'BBT-207', another next-generation NSCLC treatment candidate discovered in-house to address C797S-positive double mutations and various other mutation scenarios, is preparing to submit Investigational New Drug (IND) applications in South Korea and the United States in the first half of this year based on preclinical study results. Key preclinical research outcomes, including antitumor efficacy, will be presented in poster form at the upcoming American Association for Cancer Research (AACR) Annual Meeting next month.

Furthermore, 'BBT-877', an autotaxin inhibitor candidate being developed as the first drug in its class for idiopathic pulmonary fibrosis (IPF), received Phase 2 clinical trial approval from the U.S. Food and Drug Administration (FDA) in July last year, initiating multinational clinical trials including South Korea and the United States. Regarding IPF treatments, since the disease can arise from various causes, the company is strengthening its portfolio by additionally introducing candidate substances with different mechanisms of action, 'BBT-301' and 'BBT-209'.