Mersana snaps up $270M cancer drug deal with Endo Pharma

Posted under biobucks, Blog, Cancer Drugs, Companies, Diagnostics, Endo Pharmaceuticals, Funding, Medical Devices, Medical Supply, Mersana Therapeutics, Pharmaceuticals, Startups, Universities, Videos by Ryan McBride

Mersana Therapeutics has scored its second major collaboration deal. Endo Pharmaceuticals ($ENDP) has tapped Mersana to create antibody-drug conjugates against an undisclosed cancer target. And like almost all biotech collaborations nowadays, this one is laden with lots of potential dollars that the industry calls "biobucks."

Endo has agreed to pony up a mystery upfront fee to Cambridge, MA-based Mersana and, if Endo elects to expand the collaboration from one target to three, it could end up paying Mersana more than $270 million in potential payments, according to Mersana's release. There's no specific asset revealed in the companies' announcement, but Mersana is expected to combine Endo's antibodies with its own proprietary Fleximer technology and linkers for arming the antibody drugs with anti-cancer toxins.

Venture-backed Mersana can now count Endo along with its earlier pharma collaborator, Teva Pharmaceutical ($TEVA). Endo and Teva have bought into the potential for Mersana's platform to offer a new generation of antibody-drug conjugates, which combine the ability of antibodies to home in on tumor targets with the killer punch of anti-cancer toxins into one drug. Seattle Genetics ($SGEN) snagged its first FDA approval for a cancer drug of this sort called Adcetris last summer, and Roche ($RHBBY) is in the hunt with its late-stage drug in this class called T-DM1, which uses linker tech from ImmunoGen ($IMGN).

Mersana says its next-generation linker system boosts the amount of drug that can be packed onto an antibody and can be used with targeting agents other than antibodies, including antibody fragments. Whether this tech leads to a major drug won't be known for years, as none of the company's candidates have advanced beyond Phase Ib. It's also worth noting that none of the FDA-approved antibody drug conjugates to date have turned into big commercial successes.

- here's the release

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BioDelivery Sciences shares spike on $180M pain drug deal with Endo Pharma

Posted under BioDelivery Sciences, Blog, Companies, Diagnostics, Endo Pharmaceuticals, Funding, Medical Devices, Medical Supply, painkiller, Pharmaceuticals, Startups, Universities, Videos by Ryan McBride

BioDelivery Sciences International ($BDSI) surged out of penny-stock territory this morning on news of its deal with Endo Pharmaceuticals ($ENDP) to partner on a version of the painkiller buprenorphine now in late-stage development.

The deal brings Raleigh, NC-based BioDelivery an upfront $30 million payment from Endo, raising hopes for the program and sending the company's shares up more than 130% in early-morning trading. Endo also agreed to pay its new partner up to $150 million in milestones. Endo's bet on the program comes after BioDelivery revealed in September that it missed its primary goal that measured difference in pain intensity among patients with chronic aches in a Phase III study, which compared the drug, BioErodible MucoAdhesive (BEMA) Buprenorphine, with a placebo.

Still, BioDelivery has said there was upbeat evidence in the study that warrants further Phase III testing of the drug, which uses a method of delivery that releases the painkiller into a patient's cheek. BioDelivery is responsible for the rest of the clinical development of the treatment, and Endo is taking charge of submitting the application for FDA approval and working with regulators, according to the companies' release this morning. Endo is also in charge of manufacturing and marketing the drug globally.

Dr. Mark Sirgo, president and CEO of BioDelivery, stated: "As we considered the ideal commercial partner for BDSI's most significant asset, we sought to balance the financial benefits of the transaction with a company that had a real need for a product with the potential of BEMA Buprenorphine along with solid experience and commitment to the pain category."

- here's the release

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