Cascadian Therapeutics

The story of Cascadian Therapeutics is one of evolution. Founded long before it bore that name, the company began its life with a different focus. In 2016, the enterprise then known as Oncothyreon, which had centered on therapeutic vaccines, made a significant pivot. Under the leadership of President and CEO Scott Myers, the company rebranded to Cascadian Therapeutics, signaling a strategic shift toward developing targeted cancer therapies. Its most advanced product candidate was ONT-380, an oral inhibitor aimed at treating HER2-positive metastatic breast cancer. The company’s new direction quickly gained momentum. The lead drug, renamed tucatinib, was promising enough to catch the eye of a major player in the oncology space. In January 2018, fellow Seattle-based biotech Seattle Genetics announced its intention to acquire Cascadian Therapeutics in a cash deal valued at approximately $614 million. This represented a significant validation of Cascadian's focused strategy and the potential of its lead asset. The acquisition was finalized in March 2018, integrating Cascadian's pipeline and its promising drug, tucatinib, into Seattle Genetics' broader portfolio of cancer treatments. For Cascadian, the buyout represented the culmination of its journey, a successful transition from a vaccine-oriented company to a focused developer of a valuable targeted therapy, ultimately delivering a positive outcome for its stockholders.