A bruised Eli Lil­ly buys rights to Cen­trex­ion's ear­ly-stage pain drug for $47.5M up­front

Eli Lil­ly is work­ing on putting its woes in the rearview mir­ror. In re­cent months, a late-stage fail­ure trig­gered the with­draw­al of its can­cer drug Lartru­vo, the US drug­mak­er rel­e­gat­ed two mid-stage drugs to the scrap heap, and Japan flagged safe­ty con­cerns as­so­ci­at­ed with its breast can­cer treat­ment, Verzenio.

On Tues­day, the US drug­mak­er said it was ac­quir­ing the rights to an ex­per­i­men­tal ear­ly-stage non-opi­oid pain drug from Cen­trex­ion for $47.5 mil­lion up­front. The Boston-based com­pa­ny ac­quired the chron­ic pain drug CN­TX-0290 — a small mol­e­cule so­mato­statin re­cep­tor type 4 (SSTR4) ag­o­nist — from Boehringer In­gel­heim in 2016.

Af­ter kick­ing off the year with a bang with $8 bil­lion agree­ment to buy Loxo, in a deal forged in 10 days, things for Lil­ly $LLY have on­ly gone south. Last month, the com­pa­ny slashed its 2019 fore­cast by $3 bil­lion — re­flect­ing the Elan­co An­i­mal Health spin off — and is in des­per­ate need for as­sets to im­prove its pipeline and prospects.

Apart from the is­sues out­lined above, Lil­ly is al­so strug­gling on the R&D side. Ear­li­er this year, re­searchers re­newed safe­ty fears about its once-tout­ed block­buster con­tender tanezum­ab and the larg­er an­ti-NGF pain drug class; the com­pa­ny aban­doned a mid-stage BTK in­hibitor, shrug­ging off a $690 mil­lion pact for the im­munol­o­gy drug — in-li­censed from Ko­rea’s Han­mi three years ago; part­ner In­cyte $IN­CY halt­ed all fur­ther R&D in­vest­ments in Olu­mi­ant, a JAK in­hibitor that bare­ly man­aged an FDA ap­proval, with a low­er dose than Lil­ly had ad­vo­cat­ed for af­ter reg­u­la­tors raised se­ri­ous safe­ty con­cerns about the drug — and the class; and then there’s the Alzheimer’s drug solanezum­ab, which has failed three piv­otal pro­grams but is still mar­i­nat­ing in late-stage de­vel­op­ment, de­spite most ob­servers hav­ing writ­ten it off as col­lat­er­al dam­age in the all-but-dead amy­loid be­ta hy­poth­e­sis.

Lil­ly’s ex­ist­ing drugs aren’t in the best shape ei­ther. The com­pa­ny is fac­ing fierce pres­sure to rein in the prices of its ar­se­nal of di­a­betes drugs, while its erec­tile dys­func­tion treat­ment Cialis is be­ing eat­en up by gener­ic com­pe­ti­tion.

Jef­frey Kindler Linkedin

In the deal an­nounced on Tues­day, Cen­trex­ion may be el­i­gi­ble for up to $575 mil­lion in po­ten­tial de­vel­op­ment and reg­u­la­to­ry mile­stones. If CN­TX-0290 is ap­proved, Cen­trex­ion could get an­oth­er $375 mil­lion in po­ten­tial sales mile­stones and tiered roy­al­ties.

The pri­vate­ly-held com­pa­ny, led by for­mer Pfiz­er $PFE chief Jef­frey Kindler, re­port­ed­ly post­poned its plans for a $75 mil­lion IPO last No­vem­ber. Its lead drug, CN­TX-4975, is in late-stage de­vel­op­ment. The ex­per­i­men­tal treat­ment is a man-made ver­sion of chili plant ex­tract trans-cap­saicin and is de­signed to work by in­ac­ti­vat­ing lo­cal pain fibers trans­mit­ting sig­nals to the brain.


Im­age: Shut­ter­stock

Con­quer­ing a silent killer: HDV and Eiger Bio­Phar­ma­ceu­ti­cals

Hepatitis delta, also known as hepatitis D, is a liver infection caused by the hepatitis delta virus (HDV) that results in the most severe form of human viral hepatitis for which there is no approved therapy.

HDV is a single-stranded, circular RNA virus that requires the envelope protein (HBsAg) of the hepatitis B virus (HBV) for its own assembly. As a result, hepatitis delta virus (HDV) infection occurs only as a co-infection in individuals infected with HBV. However, HDV/HBV co-infections lead to more serious liver disease than HBV infection alone. HDV is associated with faster progression to liver fibrosis (progressing to cirrhosis in about 80% of individuals in 5-10 years), increased risk of liver cancer, and early decompensated cirrhosis and liver failure.
HDV is the most severe form of viral hepatitis with no approved treatment.
Approved nucleos(t)ide treatments for HBV only suppress HBV DNA, do not appreciably impact HBsAg and have no impact on HDV. Investigational agents in development for HBV target multiple new mechanisms. Aspirations are high, but a functional cure for HBV has not been achieved nor is one anticipated in the forseeable future. Without clearance of HBsAg, anti-HBV investigational treatments are not expected to impact the deadly course of HDV infection anytime soon.

No­var­tis is ax­ing 150 ear­ly dis­cov­ery jobs as CNI­BR shifts fo­cus to the de­vel­op­ment side of R&D

Novartis is axing some 150 early discover jobs in Shanghai as it swells its staff on the drug development side of the equation in China. And the company is concurrently beefing up its investment in China’s fast-growing biotech sector with a plan to add to its investments in local VCs.

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No­var­tis is eye­ing a multi­bil­lion-dol­lar Med­Co buy­out as Jer­sey biotech nears NDA — re­ports

To get from Novartis’ US headquarters to the Medicines Company, you make a left out of a square concrete building on NJ-Route 10, follow it past the sun orange veranda of Jersey’s Hot Bagels and the inexplicable green Vermont cabin that houses the Whippany Railway Museum until you turn right and immediately arrive at a rectangular glass building. It should take you about 12 minutes.

Reports are out that Novartis may be making that trip. Amid a torrent of Phase III data burnishing MedCo’s chances at a blockbuster cholesterol drug,  Bloomberg News is reporting that Novartis is looking to acquire the Jersey-based biotech.

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UP­DAT­ED: In a land­mark first glimpse of hu­man da­ta from Ver­tex, CRISPR/Cas9 gene ther­a­py sig­nals ear­ly ben­e­fit

Preliminary data on two patients with blood disorders that have been administered with Vertex and partner CRISPR Therapeutics’ gene-editing therapy suggest the technology is safe and effective, marking the first instance of the benefit of the use of CRISPR/Cas9 technology in humans suffering from disease.

Patients in these phase I/II studies give up peripheral blood from which hematopoietic stem and progenitor cells are isolated. The cells are tinkered with using CRISPR/Cas9 technology, and the edited cells — CTX001 — are infused back into the patient via a stem cell transplant. The objective of CTX001 is to fix the errant hemoglobin gene in patents with two blood disorders: beta-thalassemia and sickle cell disease, by unleashing the production of fetal hemoglobin.

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Badrul Chowdhury. FDA via Flickr

As­traZeneca los­es an­oth­er ex­ec­u­tive to biotech, as Badrul Chowd­hury moves to Savara

Another executive is migrating from the echelons of Big Pharma to the corridors of small biotech.

In April 2018, Badrul Chowdhury took his more than two decades of experience at the FDA to AstraZeneca, where he took on the role of senior vice president and chief physician-scientist for respiratory, inflammation and autoimmunity late-stage development in biopharmaceuticals R&D.

After about a year and a half in this role, Chowdhury is moving to a small Texas biotech called Savara, where he will serve as chief medical officer.

Yiannis Kiachopoulos and Artur Saudabayev, co-founders of Causaly

Lon­don AI up­start, which counts No­var­tis as a cus­tomer, can teach your com­put­er to read

When Amazon developed a machine-learning tool to make its recruitment process more efficient — the man-made system absorbed the gender-bias of its human makers, and the project was aborted. In the field of biopharmaceuticals, the way researchers train their machine learning algorithms can skew the outcome of predictions. But before those predictions can be made, the engine must learn to read to make sense of explosive volume of knowledge out there.

Burt Adelman. Novo Ventures

Here's a $25M seed fund aimed at back­ing some brash new drug ideas out of the Broad

As a former academic and a seasoned drug developer, Burt Adelman knew when he was recruited as a senior advisor to Novo Ventures in 2017 that one of his key priorities needs to be introducing the fund to the network he was so deeply embedded in.

“I was thinking long and hard on how can I, as a Boston insider, help Novo really get inside the ecosystem of Boston biotech?” he recalled in an interview with Endpoints News.

Welling­ton lines up a $393M bankroll for its next round of pri­vate biotech bets — and they’re like­ly think­ing big

Wellington Management made some uncustomary waves at the beginning of the year when it threw its considerable weight against Bristol-Myers Squibb’s $74 billion Celgene buyout. But after Bristol-Myers’ biggest investor conceded that game to the influential proxy firms involved, they’re now going to end the year by rolling out a big new investment fund for a new stable of fledgling biotechs on the private side of the industry.

As uter­ine race with Ab­b­Vie heats up, My­ovant eyes FDA ap­proval with tri­al re­sults from prostate can­cer

Myovant has long had a secret weapon in its uterine rivalry with AbbVie: Men.

While the small Swiss biotech has jockeyed with the Illinois-based giant for a foothold in the endometriosis and uterine fibroid therapy market, the company has been developing the same lead compound, relugolix, for use in one of the most common cancers for the uterus-less: prostate cancer. Today, Myovant is out with positive topline results from its big Phase III trial on the gonadotropin-releasing hormone (GnRH) antagonist. They say they’ve reached every primary and secondary endpoint with p values less than .0001.