Major Players in Targeted Cancer Therapies Market Focus on Discovery, Development, and Commercialization of Targeted Small Molecule Medicines

Targeted Cancer Therapies Market

 Targeted cancer treatments are specially-formulated drugs or chemicals that specifically block the development and progression of various forms of cancer by interfering directly with specific molecules ("targets"), which are involved in cancer's growth, development, and metastasis. These drugs have been shown to be very effective in the treatment and prevention of cancer. 

Many players in the targeted cancer therapies market are focused on developing small molecule drugs. In July 2019, Pfizer Inc. acquired Array BioPharma Inc. with the aim to advance breakthrough science for the discovery, development and commercialization of targeted small molecule medicines to treat cancer and other diseases of high unmet need. Similarly, in March 2020, IDEAYA Biosciences, Inc. collaborated with Cancer Research UK and the University of Manchester, UK, to develop small molecule inhibitors of Poly(ADP-ribose) glycohydrolase, a DNA damage response-based synthetic lethality target, for DNA repair. 

The targeted cancer therapies market is also focused on R&D in biologics. In April 2020, Samsung Biologics signed a contract developing organization agreement with PharmAbcine, a biotechnology company, for developing and manufacturing the PMC-402 pipeline. The success rate of biologics is higher than small molecule drugs. 

Expansion on manufacturing capabilities of small molecules is expected to aid in growth of targeted cancer therapies market. In August 2020, Ajinomoto Bio-Pharma Services expanded small molecule manufacturing capabilities with the addition of a new production facility in Visakhapatnam, India. Many companies are also receiving funding for R&D in small molecule drugs for the treatment of cancer. In October 2020, Scorpion Therapeutics, Inc., a next-generation precision oncology company, raised US$ 108 million in Series A to advance Precision Oncology 2.0., which focuses on small molecule drugs for the treatment of cancer. Similarly, in October 2020, Cedilla Therapeutics, a targeted cancer therapies market player, raised US$ 57.6 million in Series B round for early development of the biotech’s small molecule programs, including preclinical work on its first two product candidates.

Peptide receptor radionuclide therapy plays a major role in targeted cancer therapies market. It is a molecular therapy (also called radioisotope therapy) used to treat a specific type of cancer called neuroendocrine tumors or NETs1. In January 2021, Soricimed Biopharma Inc., a clinical stage company, and Orano Med, a nuclear biotech company based in the U.S., entered into an agreement focused on the development of a novel Peptide Receptor Radionuclide Therapy to treat solid tumor cancers.


In-depth Report on Targeted Cancer Therapies Market by Coherent Market Insights:

https://www.coherentmarketinsights.com/ongoing-insight/targeted-cancer-therapies-market-931

Location: India

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