PALM BEACH, Fla., June 11, 2025 (GLOBE NEWSWIRE) -- FN Media Group News Commentary - The global oncology market is undergoing rapid growth, mainly due to the increasing number of cancer cases around the world. The World Health Organization estimates there will be over 35 million new cancer cases by 2050, a massive 77% increase from the estimated 20 million cases in 2022. This rising occurrence of cancer has been attributed to lifestyle changes in an increasingly geriatric population in both developed countries and emerging economies. Environmental factors such as pollution and the high penetration of microplastics, a potential carcinogen, are also contributing to the growing number of cancer cases. As the global burden of cancer continues to go up, government and private organizations are increasing funding in both healthcare infrastructure and investment into research and development of therapeutics and potential cures for various kinds of cancers. Many federal early detection programs have been launched with large players in the pharmaceutical sector looking to increase the number of clinical trials and drug discovery studies undertaken. These innovations are propelling market expansion, with the sector expected to witness significant growth in the coming years as new technologies and therapies continue to emerge. A new research report from BioSpace, said the global oncology market size was USD 321.19 billion in 2024, and calculated at USD 356.20 billion in 2025 is expected to reach around USD 903.81 billion by 2034, growing at a CAGR of 10.9% for the forecasted period. the development of the global healthcare infrastructure and cancer continuing to be one of the leading causes of death worldwide drives growth in the global oncology market. Active oncology biotech and pharma companies in the markets this week include Oncolytics Biotech® Inc. (NASDAQ: ONCY) (TSX: ONC), Novartis AG (NYSE: NVS), BioNTech SE (NASDAQ: BNTX), Arvinas, Inc. (NASDAQ: ARVN), Pfizer Inc. (NYSE: PFE).
The report said: “Innovations in cancer treatments include advancements in immunotherapy and precision medicine (which include targeted therapies), and the various applications of artificial intelligence. Some examples of novel oncological treatments include kinase and checkpoint inhibitors, monoclonal antibodies, and CAR-T cell therapy. These therapeutics mobilize the body’s immune system in new ways to fight cancer. As early diagnostic techniques improve, certain kinds of cancers, such as breast cancer, melanoma, and thyroid cancer, can be cured more frequently. Techniques such as liquid biopsy, biomarker-based testing and breakthroughs such as next-generation sequencing (NGS) are enhancing the ability to diagnose cancer at an early stage. As investment continues to grow in the oncology sector, new treatments are expected to improve the remission and survival rates of patients battling this disease and provide a boost to growth in the global oncology market.”
Oncolytics Biotech® Inc. (NASDAQ: ONCY) (TSX: ONC) Names New CEO to Accelerate Momentum in Immunotherapy Programs -- Oncolytics Biotech ® Inc., ($ONCY $ONC), a leading clinical-stage company specializing in immunotherapy for oncology, today announced the appointment of Jared Kelly as Chief Executive Officer and a member of its Board of Directors.
Mr. Kelly is a successful biotech executive who has proven expertise in transformative deals and corporate strategy. Most recently, he played a central role in orchestrating the sale of Ambrx Biopharma to Johnson & Johnson for $2 billion. Prior to Ambrx, he advised multiple leading-edge biotech companies on M&A and licensing transactions at highly respected law firms, including Lowenstein Sandler LLP and Kirkland & Ellis LLP. He is a JD and LLM graduate of Georgetown Law.
“Mr. Kelly’s vision and track record is an extraordinary fit with the standout clinical data pelareorep has generated to date,” said Wayne Pisano, Chair of Oncolytics’ Board of Directors and outgoing Interim CEO. “We believe Mr. Kelly’s well-documented ability to prioritize clinical program development, execute successful financings, and attract the attention of large industry peers will help maximize Oncolytics’ potential to deliver transformative outcomes for patients and exceptional value for investors.”
Mr. Kelly added, “Pelareorep’s clinical data across multiple tumors is striking and represents the potential for a true backbone immunotherapy to address many in-need indications. Importantly, the data show that pelareorep creates a robust immunologic response in difficult tumors and increases survival in a patient population where survival has historically evaded most patients. With a renewed focus and sharpened clinical development plan, we believe we will move pelareorep forward effectively and efficiently to a place where potential partners will see the value of a de-risked immunotherapy. I am excited to get to work accelerating development and unlocking significant value for stakeholders.”
Pelareorep, an intravenously-administered immunotherapeutic agent, has been granted FDA Fast Track designation by the U.S. Food and Drug Administration (FDA) in metastatic pancreatic ductal adenocarcinoma (mPDAC) and HR+/HER2- metastatic breast cancer (mBC). It has delivered compelling results in mPDAC, a high-value indication with significant unmet need. In Phase 1 and 2 trials involving more than 140 mPDAC patients, pelareorep has delivered a >60% objective response rate in tumor evaluable patients in the most recent study, which is more than double the benefit observed in historical control trials, and, separately, two-year survival rates 4-6 times those observed in control patients or against the benchmark in prior studies.
In mBC, pelareorep recorded a meaningful survival benefit in two randomized Phase 2 studies of over 100 combined mBC patients, IND-213 and BRACELET-1. Phase 2 objective response rate data in second-line or later unresectable squamous cell carcinoma of the anal canal (SCCA) patients continue to exceed historical data for treatment with a checkpoint inhibitor alone. These consistent efficacy signals, in combination with multiple chemotherapies and checkpoint inhibitors, uniquely position pelareorep as a high-potential asset for further development in-house and/or through strategic partnerships. Pelareorep also has a well-defined and favorable safety profile based on data from >1,100 patients across multiple tumor types.
As a material inducement to Mr. Kelly’s appointment as Chief Executive Officer, and in accordance with NASDAQ Listing Rule 5635(c)(4), Mr. Kelly has been awarded an initial stock option grant exercisable for 2,850,000 shares with an exercise price of CAD$0.57, vesting equally over three years. He also received a performance-based stock option grant exercisable for 1,900,000 shares with an exercise price of CAD$0.57, which will vest upon the achievement of certain financing objectives. All stock option grants have a term of 5 years from the date of grant. The Company also granted Mr. Kelly restricted stock units, which will entitle him to receive that number of Common Shares equal to 2% of the Company’s then outstanding common shares upon the Company entering into a definitive agreement for certain transactions providing for the acquisition of the Company or the exclusive license of pelareorep. Each of these awards is intended to align Mr. Kelly’s long-term incentives with the creation of shareholder value. CONTINUED… Read these full press releases and more news for ONCY at: https://www.financialnewsmedia.com/news-oncy/
Other recent oncology developments in the biotech industry of note include:
Novartis AG (NYSE: NVS) recently announced topline results from a pre-specified interim analysis of the Phase III PSMAddition trial. The trial met its primary endpoint with a statistically significant and clinically meaningful benefit in radiographic progression-free survival (rPFS) with a positive trend in overall survival (OS) in patients with prostate-specific membrane antigen (PSMA)-positive metastatic hormone-sensitive prostate cancer (mHSPC) treated with radioligand therapy (RLT), Pluvicto™ (lutetium (177Lu) vipivotide tetraxetan), in combination with standard of care (SoC) versus SoC alone1. In PSMAddition, the SoC is a combination of androgen receptor pathway inhibitor (ARPI) therapy and androgen deprivation therapy (ADT)3.
Almost all mHSPC patients ultimately progress to metastatic castration-resistant prostate cancer (mCRPC)4. There is a need for additional treatment options with novel mechanisms of action that further delay progression, prolong OS and improve disease control compared to the current SoC, while showing a favorable safety and tolerability profile.
BioNTech SE (NASDAQ: BNTX) and Bristol Myers Squibb (BMY, “BMS”) recently announced that the companies have entered into an agreement for the global co-development and co-commercialization of BioNTech’s investigational bispecific antibody BNT327 across numerous solid tumor types. Under the agreement, BioNTech and BMS will work jointly to broaden and accelerate the development of this clinical candidate.
BioNTech’s BNT327, a next-generation bispecific antibody candidate targeting PD-L1 and VEGF-A, is currently being evaluated in multiple ongoing trials with more than 1,000 patients treated to date, including global Phase 3 trials with registrational potential evaluating BNT327 as first-line treatment in extensive stage small cell lung cancer (“ES-SCLC”) and non-small cell lung cancer (“NSCLC”). A global Phase 3 trial evaluating the candidate in triple negative breast cancer (“TNBC”) is planned to start by the end of 2025. Preliminary data from ongoing trials underscore the potential for combining anti-PD-L1 and anti-VEGF-A – two well-established therapeutic targets – into a single molecule to deliver synergistic clinical benefits for patients across multiple tumor types.
Arvinas, Inc. (NASDAQ: ARVN) and Pfizer Inc. (NYSE: PFE) recently announced detailed results from the Phase 3 VERITAC-2 clinical trial (NCT05654623) evaluating vepdegestrant monotherapy versus fulvestrant in adults with estrogen receptor-positive, human epidermal growth factor receptor 2-negative (ER+/HER2-) advanced or metastatic breast cancer (MBC) whose disease progressed following prior treatment with cyclin-dependent kinase (CDK) 4/6 inhibitors and endocrine therapy. These data, which were highlighted in the American Society of Clinical Oncology (ASCO®) press briefing and selected for Best of ASCO, will be presented today in a late-breaking oral presentation (Abstract LBA1000) and have been simultaneously published in the New England Journal of Medicine.
In the trial, vepdegestrant demonstrated a statistically significant and clinically meaningful improvement in progression-free survival (PFS) among patients with an estrogen receptor 1 (ESR1) mutation, reducing the risk of disease progression or death by 43% compared to fulvestrant [Hazard Ratio (HR)=0.57 (95% CI 0.42–0.77); 2-sided P<0.001]. The median PFS, as assessed by blinded independent central review (BICR), was 5.0 months with vepdegestrant versus 2.1 months with fulvestrant. Investigator-assessed PFS was consistent with the BICR-assessed PFS. In patients with ESR1 mutations, vepdegestrant demonstrated a consistent PFS benefit over fulvestrant across all pre-specified subgroups. The trial did not reach statistical significance in improvement in PFS in the intent-to-treat (ITT) population, with a median PFS of 3.7 months for vepdegestrant versus 3.6 for fulvestrant [HR=0.83 (95% CI 0.68–1.02); 2-sided P=0.07].
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