Richard Mason, Apollo Therapeutics CEO

A UK biotech looks to bring al­liance be­tween GSK, J&J, As­traZeneca, and top uni­ver­si­ties state­side with its first megaround

Richard Ma­son was work­ing at the J&J In­no­va­tion Cen­ter in Lon­don about six years ago when the com­pa­ny linked arms with two oth­er phar­mas and three of the UK’s lead­ing uni­ver­si­ties to form Apol­lo Ther­a­peu­tics — a trans­la­tion­al med­i­cine group aimed at spin­ning out new ther­a­pies. Now he’s run­ning the show at Apol­lo, and he’s pulled in $145 mil­lion to dri­ve those pro­grams in­to the clin­ic.

Ma­son un­veiled what he calls Apol­lo’s “first in­sti­tu­tion­al fi­nanc­ing” ear­ly Thurs­day morn­ing, which he plans on us­ing to beef up op­er­a­tions both in the UK and the US, and ad­vance a port­fo­lio of more than 15 pro­grams.

“We had this fan­tas­tic pe­ri­od of just heads down, loads and loads of R&D, and now it’s time to re­al­ly in­vest in it,” the new CEO told End­points News. 

Apol­lo was es­tab­lished in late 2015 as a joint ven­ture be­tween the Uni­ver­si­ty of Cam­bridge, Im­pe­r­i­al Col­lege Lon­don, Uni­ver­si­ty Col­lege Lon­don, As­traZeneca, Glax­o­SmithK­line and J&J In­no­va­tion to “bridge the gap” be­tween aca­d­e­m­ic sci­ence and pa­tients.

“They knew they had great in­no­va­tion and great sci­en­tists,” Ma­son said of uni­ver­si­ty re­searchers. “But ac­tu­al­ly just the know-how on in­dus­tri­al stan­dard R&D, it was dif­fi­cult to ac­cess.”

Apol­lo’s pro­grams fall in­to three main buck­ets: on­col­o­gy, in­flam­ma­to­ry dis­or­ders and rare dis­ease. Ma­son is hold­ing his cards close for now, and de­clined to say much about the port­fo­lio aside from that it spans a range of modal­i­ties, in­clud­ing a num­ber of small mol­e­cules and bi­o­log­ics. Last Ju­ly, Apol­lo out-li­censed its first pro­gram — a gene ther­a­py de­vel­oped at the Uni­ver­si­ty Col­lege Lon­don — to Deer­field Man­age­ment.

The de­fault plan is to take the pro­grams to clin­i­cal proof-of-con­cept, then pick the best ones to take in­to lat­er de­vel­op­ment and com­mer­cial­iza­tion while li­cens­ing out the rest, Ma­son ex­plained. Apol­lo will prob­a­bly be in the clin­ic with “a num­ber of pro­grams” in the next 12 months or so, he added.

Jim Mom­tazee

“What’s fun­da­men­tal­ly dif­fer­ent about it is your clas­sic ven­ture-dri­ven biotech mod­el, the in­tent, near­ly al­ways, is even­tu­al­ly to sell the com­pa­ny,” said Pa­tient Square Cap­i­tal’s Jim Mom­tazee, who is join­ing Apol­lo’s board. “This busi­ness mod­el has that op­tion­al­i­ty at the pro­gram lev­el, but the in­tent of Apol­lo Ther­a­peu­tics as a busi­ness en­ter­prise is to be around fun­da­men­tal­ly for­ev­er. And you do things quite dif­fer­ent­ly when the in­tent is to be around fun­da­men­tal­ly for­ev­er.”

Apol­lo is us­ing some of its funds to build a new fa­cil­i­ty in the Boston area, and in the next 18 months Ma­son plans to have about 30 full-time staffers split be­tween both sides of the At­lantic.

“Very nat­u­ral­ly now, there’s a huge op­por­tu­ni­ty to use this as a spring­board to, you know, with the in­vest­ment from Pa­tient Square Cap­i­tal and oth­ers, to re­al­ly dri­ve this for­ward as an in­de­pen­dent bio­phar­ma­ceu­ti­cal com­pa­ny,” he said.

The round was led by Pa­tient Square Cap­i­tal, with Rock Springs Cap­i­tal, Reimag­ined Ven­tures and UCL Tech­nol­o­gy Fund chim­ing in.

Biotech and Big Phar­ma: A blue­print for a suc­cess­ful part­ner­ship

Strategic partnerships have long been an important contributor to how drugs are discovered and developed. For decades, big pharma companies have been forming alliances with biotech innovators to increase R&D productivity, expand geographical reach and better manage late-stage commercialization costs.

Noël Brown, Managing Director and Head of Biotechnology Investment Banking, and Greg Wiederrecht, Ph.D., Managing Director in the Global Healthcare Investment Banking Group at RBC Capital Markets, are no strangers to the importance of these tie-ups. Noël has over 20 years of investment banking experience in the industry. Before moving to the banking world in 2015, Greg was the Vice President and Head of External Scientific Affairs (ESA) at Merck, where he was responsible for the scientific assessment of strategic partnership opportunities worldwide.

No­var­tis' sec­ond at­tempt to repli­cate a stun­ning can­cer re­sult falls flat

Novartis’ hopes of turning one of the most surprising trial data points of the last decade into a lung cancer drug has taken another setback.

The Swiss pharma announced Monday that its IL-1 inhibitor canakinumab did not significantly extend the lives or slow the disease progression of patients with previously untreated locally advanced or metastatic non-small cell lung cancer when compared to standard of-care alone.

Endpoints News

Keep reading Endpoints with a free subscription

Unlock this story instantly and join 120,600+ biopharma pros reading Endpoints daily — and it's free.

Robert Califf (Pablo Martinez Monsivais, AP Images, File)

As buzz on Califf FDA nom heats up, in­dus­try and agency in­sid­ers of­fer a strong nod for the ‘per­fect’ choice

For once in this long, dramatic road to finding a new FDA commissioner, there’s been some continuity. Both CNN and Politico reported this weekend that Rob Califf met with President Biden to discuss the permanent commish role, following earlier news broken by the Washington Post that all signs point to Califf.

Although there may be a few Democrats who continue to grandstand about the dangers of COI (Califf has worked for Verily, sits on the board of Centessa Pharmaceuticals, and has other ties to industry research), with the pandemic ongoing and the need for some kind of continuity at FDA mounting, Califf is likely to meet the same fate as when he first won Senate confirmation in 2016, by a vote of 89-4 — Bernie Sanders and 6 others didn’t vote.

Endpoints News

Keep reading Endpoints with a free subscription

Unlock this story instantly and join 120,600+ biopharma pros reading Endpoints daily — and it's free.

AstraZeneca CEO Pascal Soriot (Raphael Lafargue/Abaca/Sipa USA)

A com­bo of As­traZeneca's Imfinzi and chemo wins where oth­ers have failed in piv­otal bil­iary tract test

Looking to run with the big dogs in the PD-(L)1 class, AstraZeneca’s Imfinzi has a tall hill to climb to compete in an increasingly bustling market. An aggressive combo strategy for the drug has paid off so far, and now AstraZeneca is adding another notch to its belt.

A combo of Imfinzi (durvalumab) and chemotherapy significantly extended the lives of first-line patients with advanced biliary tract cancer over chemo alone, according to topline results from the Phase III TOPAZ-1 study revealed Monday.

Endpoints News

Keep reading Endpoints with a free subscription

Unlock this story instantly and join 120,600+ biopharma pros reading Endpoints daily — and it's free.

Sean Ianchulev, Eyenovia CEO and CMO

Re­cent court de­ci­sion push­es FDA to re­ject and re­clas­si­fy drug-de­vice com­bo, crush­ing shares

Back in April, the FDA lost a crucial court case in which its broad discretion of regulating medical products that might satisfy the legal definitions of either “drug” and/or “medical device” was sharply curtailed.

In addition to the appeals court ruling that Genus Medical Technologies’ contrast agent barium sulfate (aka Vanilla SilQ) should not be considered a drug, as the FDA had initially ruled, but as a medical device, the agency also was forced to spell out which drugs would transition to devices as a result of the ruling.

Endpoints News

Keep reading Endpoints with a free subscription

Unlock this story instantly and join 120,600+ biopharma pros reading Endpoints daily — and it's free.

Peter Greenleaf, Aurinia CEO

Af­ter pass­ing on Ac­celeron, Bris­tol My­ers eyes bolt-on ac­qui­si­tion of au­toim­mune spe­cial­ist — re­port

Bristol Myers Squibb is looking to beef up its autoimmune portfolio by scooping up Aurinia Pharmaceuticals, Bloomberg reported.

The recent overtures to Aurinia, relayed by anonymous insiders, came just as Bristol Myers turned down buyout talks with partners at Acceleron — which Merck ultimately struck a deal to acquire for $11.5 billion. Bristol Myers has reportedly decided to cash out on its minority stake, likely bagging $1.3 billion in the process, while keeping the royalty deals on two of Acceleron’s blood disorder drugs.

Endpoints News

Keep reading Endpoints with a free subscription

Unlock this story instantly and join 120,600+ biopharma pros reading Endpoints daily — and it's free.

So — that pig-to-hu­man trans­plant; Po­ten­tial di­a­betes cure reach­es pa­tient; Ac­cused MIT sci­en­tist lash­es back; and more

Welcome back to Endpoints Weekly, your review of the week’s top biopharma headlines. Want this in your inbox every Saturday morning? Current Endpoints readers can visit their reader profile to add Endpoints Weekly. New to Endpoints? Sign up here.

We’re incredibly excited to welcome Beth Bulik, seasoned pharma marketing reporter, to the team. You can find much of her work in our new Marketing channel — and in her weekly newsletter, Endpoints PharmaRx, which will launch in early November. Add it to your subscriptions here.

Endpoints News

Keep reading Endpoints with a free subscription

Unlock this story instantly and join 120,600+ biopharma pros reading Endpoints daily — and it's free.

NYU surgeon transplants an engineered pig kidney into the outside of a brain-dead patient (Joe Carrotta/NYU Langone Health)

No, sci­en­tists are not any clos­er to pig-to-hu­man trans­plants than they were last week

Steve Holtzman was awoken by a 1 a.m. call from a doctor at Duke University asking if he could put some pigs on a plane and fly them from Ohio to North Carolina that day. A motorcyclist had gotten into a horrific crash, the doctor explained. He believed the pigs’ livers, sutured onto the patient’s skin like an external filter, might be able to tide the young man over until a donor liver became available.

UP­DAT­ED: Agenus calls out FDA for play­ing fa­vorites with Mer­ck, pulls cer­vi­cal can­cer BLA at agen­cy's re­quest

While criticizing the FDA for what may be some favoritism towards Merck, Agenus on Friday officially pulled its accelerated BLA for its anti-PD-1 inhibitor balstilimab as a potential second-line treatment for cervical cancer because of the recent full approval for Merck’s Keytruda in the same indication.

The company said the BLA, which was due for an FDA decision by Dec. 16, was withdrawn “when the window for accelerated approval of balstilimab closed,” thanks to the conversion of Keytruda’s accelerated approval to a full approval four months prior to its PDUFA date.

Endpoints News

Keep reading Endpoints with a free subscription

Unlock this story instantly and join 120,600+ biopharma pros reading Endpoints daily — and it's free.