Calithera buys itself a plan B

When your next big trial catalyst involves an asset that has already failed in the clinic it pays to have a back-up. This might be the reasoning behind Calithera’s purchase yesterday of two early Takeda assets, a move that could give Calithera something to pivot to should telaglenastat fail its Keapsake study in lung cancer later this year.

Telaglenastat’s lung cancer mechanism might differ from its mechanism in kidney cancer, where the Cantata study bombed in January, so Keapsake might not be an obvious bust. But investors have deserted Calithera; as the cash element of the Takeda tie-up is just $10m doing the deal makes sense – with some important caveats.