Biogen Idec strikes $299M deal for Isis antisense drug

Posted under Biogen Idec, Blog, Companies, Diagnostics, Funding, Isis Pharmaceuticals, Medical Devices, Medical Supply, Novartis, Pharmaceuticals, PTC Therapeutics, rare diseases, Roche, spinal muscular atrophy, Startups, Universities, Videos by John Carroll

Joining a race of pharma giants to treat rare cases of spinal muscular atrophy, Biogen Idec ($BIIB) has committed up to $299 million to grab rights to an antisense drug program in the pipeline at Isis ($ISIS). In the pact, Biogen will pay Isis $29 million upfront and up to $45 million in milestones for an option to a $225 million licensing pact on the treatment. And Isis says the partners are on track to a potential regulatory approval once proof-of-concept data arrive.

"This alliance is consistent with our business strategy to develop antisense drugs to proof-of-concept with a knowledgeable partner that is committed to supporting the rapid development of the drug," said Isis CEO Stanley T. Crooke. "Given the severity of the unmet need in SMA, our proof-of-concept studies should also serve as the registrational trials for ISIS-SMNRx. We believe that, together with Biogen Idec, we will be able to expeditiously develop this investigational drug in hopes of bringing to market an effective and desperately needed treatment to improve the lives of children with SMA."

Bloomberg's Robert Langreth believes that the deal gives Biogen Idec the inside track on a new treatment for the lethal condition, which afflicts some 9,000 people inside the U.S. Just weeks ago Roche ($RHHBY) committed $490 million to partner with PTC Therapeutics on its program for spinal muscular atrophy. And Novartis ($NVS) is also busy with its own program, another sign of the growing popularity of new treatments for rare conditions.

"This has the potential of being truly transformative, if the preclinical data are in any way reflected in the outcome of clinical studies," Columbia's Darryl De Vivo, an Isis consultant, tells Bloomberg.

- here's the press release
- read the Bloomberg story

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Pfizer adds to fibrosis drug pipeline with Excaliard buyout

Posted under antisense, Blog, Companies, Diagnostics, EXC 001, Excaliard Pharmaceuticals, Funding, Isis Pharmaceuticals, Medical Devices, Medical Supply, Pfizer, Pharmaceuticals, Startups, Universities, Videos by John Carroll

Four years after opening shop with a $15.5 million Series A, Excaliard Pharmaceuticals is being snapped up by Pfizer ($PFE) after attracting the pharma giant's attention with a string of positive Phase II results for its lead anti-fibrotic antisense drug.

Excaliard's lead program is EXC 001, which is designed to prevent scarring of the skin by interfering with the expression of connective tissue growth factor, or CTGF. There was no word on exactly how much of an upfront and milestone package its investors fetched for the company. But its development partner--Isis Pharmaceuticals ($ISIS), which licensed out EXC 001 and other antisense programs to Excaliard in exchange for equity and a stake in its future success--reported that it will get up to $14 million in an upfront and promised milestones for its share. Isis also retains the milestones and royalties proffered under its original licensing pact with Excaliard.

"The science behind Excaliard's lead compound aligns well with our R&D focus on new treatments for fibrosis and tissue remodeling," says Jose-Carlos Gutierrez-Ramos, Pfizer's senior vice president, biotherapeutics, worldwide research and development. "We view EXC 001 as being well positioned to potentially become a novel, transformative therapy in a space with limited available treatment options."

Excaliard was co-founded by CEO Gordon Foulkes, who was managing director of RiverVest Venture Partners when he seeded the company and helped forge the initial partnership with Isis, which likes to boast of its ability to generate added income by striking licensing pacts for programs outside its core focus.

"To date, we have generated more than $450 million from our satellite company partners. Our partnership with Excaliard and their development of EXC 001 is the most recent example of the success of this strategy," said Isis CFO B. Lynne Parshall. "The local treatment of fibrosis for scarring is an area outside our key focus and, as such, is not one we would have pursued internally."

- here's the press release from Excaliard
- get the release from Isis

Related Article:
Excaliard raises $15.5M, inks Isis pact