Benzinga | Jan 7, 2022 01:03PM EST

EQRx, Geisinger Sign Memorandum Of Understanding To Provide Access To Innovative Cancer Medicines At Lower Costs; Terms Not Disclosed

EQRx, Inc. (NASDAQ:EQRX), a new type of pharmaceutical company committed to developing and delivering important new medicines to patients at radically lower prices, today announced it has signed a non-binding memorandum of understanding (MOU) with Geisinger, a U.S.-based integrated delivery network. The MOU provides a roadmap for Geisinger and EQRx to enter into a commercial agreement that would give Geisinger's members and patients access to EQRx's pipeline of innovative medicines, contingent upon approval by the U.S. Food and Drug Administration (FDA). The MOU contemplates an expansion of the existing long-term strategic collaboration between the two organizations with a shared goal of bringing innovative therapies to the people Geisinger serves, in a financially sustainable way.

The parties anticipate that the commercial agreement would initially focus on EQRx's two lead oncology programs, aumolertinib and sugemalimab, and could be expanded to other EQRx pipeline programs. Aumolertinib, an epidermal growth factor receptor (EGFR) inhibitor, and sugemalimab, an anti-PD-L1 antibody, have both shown promising Phase 3 data for the treatment of patients with advanced non-small cell lung cancer (NSCLC).

"We are committed to partnering with different types of health systems worldwide to increase access to medicines, and we are thrilled to collaborate with Geisinger, a leading integrated delivery network," said Melanie Nallicheri, chief executive officer of EQRx. "The MOU provides a roadmap for access to future EQRx products, beginning with our two lead oncology programs, and paves the way to delivering these lower-cost, innovative medicines to the more than one million people within Geisinger health systems upon FDA approval."

"Our partnership with EQRx is well aligned with Geisinger's commitment to our community to make better health easier by directly addressing the rising costs of healthcare and medications in particular," said Mike Evans, chief pharmacy officer of Geisinger. "Ballooning medication costs are placing an unsustainable burden on both patients and the U.S. healthcare system. This partnership marks Geisinger's commitment to disrupt the status quo and help make lower-cost medications for our patients a reality."

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