News Release

SAN FRANCISCO, October 26, 2020 – Olema Oncology, a clinical-stage biopharmaceutical company focused on the discovery, development and commercialization of targeted therapies for women’s cancers, today announced a clinical collaboration agreement with Novartis to evaluate OP-1250, a complete estrogen receptor (ER) antagonist (CERAN) and a selective ER degrader (SERD), in combination with each of Kisqali® (ribociclib) and Piqray® (alpelisib) in patients with recurrent, locally advanced or metastatic estrogen receptor-positive (ER+), human epidermal growth factor receptor 2-negative (HER2-) breast cancer.

“This collaboration with Novartis represents an important step toward our goal of advancing the clinical development of OP-1250,” said Sean P. Bohen, M.D., Ph.D., President and Chief Executive Officer of Olema Oncology. “We look forward to exploring the potential of OP-1250 in combination with either Kisqali® or Piqray® in breast cancer patients.”

Under the terms of the non-exclusive collaboration, Olema is responsible for conducting the trial. Novartis will supply its trial drugs and contribute to funding.

About Olema Oncology

Olema Oncology is a clinical-stage biopharmaceutical company focused on the discovery, development and commercialization of targeted therapies for women’s cancers. Olema’s lead product candidate, OP-1250, is an orally available small molecule with combined activity as both a complete estrogen receptor (ER) antagonist (CERAN) and a selective ER degrader (SERD). It is currently being evaluated as a single agent in an ongoing Phase 1/2 clinical trial in patients with recurrent, locally advanced or metastatic ER-positive (ER+), human epidermal growth factor receptor 2 negative (HER2-) breast cancer. Olema is headquartered in San Francisco.
For more information, please visit www.olema.com.

Kisqali and Piqray are registered trademarks of Novartis AG.

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Contacts

Investor Contact:
ir@olema.com

Media Contact:
Sheryl Seapy, W2O
sseapy@w2ogroup.com
949-903-4750