Surface Oncology

About Surface Oncology

Surface Oncology operated as a clinical-stage immuno-oncology company, directing its efforts toward developing antibody therapies that target the tumor microenvironment (TME). Founded in 2014 and headquartered in Cambridge, Massachusetts, the company focused on creating treatments to initiate and maintain anti-tumor immune responses.

The company’s business model was centered on the research and development of a pipeline of proprietary drug candidates. Surface Oncology's strategy included advancing its own wholly-owned programs through clinical trials and forming strategic partnerships with major pharmaceutical companies to co-develop other assets. This approach generated revenue through milestone payments from its collaboration partners, such as the $30 million payment received from GlaxoSmithKline (GSK) in March 2022 after a partnered drug candidate entered a Phase 1 study. The company also had a collaboration with Novartis for a different therapeutic candidate.

Surface Oncology’s portfolio included several clinical-stage assets. A key candidate was SRF388 (now casdozokitug), a novel antibody targeting IL-27, which was being evaluated in Phase 2 trials for lung and liver cancer. Another significant program was SRF114 (now CHS-114), a CCR8-targeted antibody designed to deplete regulatory T cells in the TME, which was in a Phase 1/2 study for advanced solid tumors. Partnerships were a core component of its strategy, with collaborations to advance NZV930 (targeting CD73) with Novartis and GSK4381562 (targeting PVRIG) with GSK.

A significant milestone in the company's history occurred in June 2023, when Coherus BioSciences, Inc. announced a definitive merger agreement to acquire Surface Oncology. The stock-for-stock transaction was valued at approximately $65 million, including Surface's net cash. The acquisition, which was unanimously approved by both companies' boards and closed on September 8, 2023, integrated Surface's clinical-stage assets into Coherus' immuno-oncology pipeline. This event marked the transition of Surface Oncology from a standalone entity to a part of Coherus, which aimed to become a next-generation immuno-oncology company focused on the tumor microenvironment.