An­oth­er im­munome­tab­o­lism deal? Johns Hop­kins spin­out Dra­cen lands $36M in­vest­ment from Deer­field

In the sec­ond fi­nanc­ing round an­nounced in one day for an im­munome­tab­o­lism start­up, Johns Hop­kins spin­out Dra­cen Phar­ma­ceu­ti­cals just wrapped up a $36 mil­lion in­vest­ment deal from Deer­field.

This mon­ey was part of a big­ger $40 mil­lion Se­ries A round, which got re­port­ed be­fore the deal ac­tu­al­ly closed.

Bar­bara Slush­er

The com­pa­ny, found­ed just a year ago, is de­vel­op­ing nov­el glu­t­a­mine an­tag­o­nists that work as in­hibitors of can­cer me­tab­o­lism, chok­ing out tu­mors and their nor­mal meta­bol­ic func­tion.

The tech is based on work by Bar­bara Slush­er, a pro­fes­sor of neu­rol­o­gy, and Jonathan Pow­ell, a pro­fes­sor of on­col­o­gy, at Johns Hop­kins School of Med­i­cine. The re­searchers al­tered the struc­ture of an ex­per­i­men­tal drug that en­hanced its abil­i­ty to slip through the blood-brain bar­ri­er. Their re­search was pub­lished in Au­gust 2016 in the Jour­nal of Med­i­c­i­nal Chem­istry, which showed in an­i­mal stud­ies that the al­tered drug struc­ture re­sult­ed in 10 times bet­ter drug de­liv­ery to the brains com­pared with the rest of an­i­mals’ bod­ies.

Jonathan Pow­ell

The drug they tweaked is called 6-di­a­zo-5-oxo-L-nor­leucine, or DON for short. It’s been used to shrink ad­vanced tu­mors in clin­i­cal tri­als, but its dam­age to the gas­troin­testi­nal sys­tem pre­vent­ed it from mov­ing for­ward.

“We won­dered whether we could make a safer and more tol­er­a­ble form of DON by en­hanc­ing its brain pen­e­tra­tion and lim­it­ing its ex­po­sure to the rest of the body and, thus, tox­i­c­i­ty,” Slush­er said in a 2016 state­ment.

Dra­cen has an ex­clu­sive agree­ment with Hop­kins and the In­sti­tute of Or­gan­ic Chem­istry and Bio­chem­istry in Prague to li­cense the joint­ly-owned tech and de­vel­op pro­pri­etary drug can­di­dates.

Tom Es­tok

Dra­cen in­tends to de­vel­op its glu­t­a­mine an­tag­o­nists alone and in com­bo stud­ies with im­mune check­point in­hibitors like an­ti-PD-1 and an­ti-PD-L1. The start­up’s plat­form might al­so have ap­pli­ca­tions in au­toim­mune dis­or­ders, in­flam­ma­to­ry dis­ease and cen­tral ner­vous sys­tem con­di­tions.

Dra­cen’s CEO Tom Es­tok said Dra­cen might be in the clin­ic by 2019. The com­pa­ny will use the new round from Deer­field to takes its can­cer pro­grams that di­rec­tion.

Jonathan Leff

“We are pleased to part­ner with Dra­cen and its founders from Johns Hop­kins Uni­ver­si­ty,” said Jonathan Leff, a Deer­field part­ner, in a state­ment. “We see great po­ten­tial for Dra­cen’s ap­proach to de­liv­er im­proved out­comes for can­cer pa­tients and po­ten­tial­ly ex­tend the ben­e­fits of im­muno-on­col­o­gy ther­a­pies.”

The field of im­munome­tab­o­lism ap­pears to be heat­ing up, with Third Rock de­but­ing Rheos Med­i­cines just this morn­ing. Rheos is work­ing on a plat­form tech that it hopes will de­liv­er mul­ti­ple tar­gets span­ning au­toim­mune dis­eases and can­cer.

John Hood [file photo]

UP­DATE: Cel­gene and the sci­en­tist who cham­pi­oned fe­dra­tinib's rise from Sanofi's R&D grave­yard win FDA OK

Six years after Sanofi gave it up for dead, the FDA has approved the myelofibrosis drug fedratinib, now owned by Celgene.

The drug will be sold as Inrebic, and will soon land in the portfolio at Bristol-Myers Squibb, which is finalizing a deal to acquire Celgene.

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UP­DAT­ED: AveX­is sci­en­tif­ic founder was axed — and No­var­tis names a new CSO in wake of an ethics scan­dal

Now at the center of a storm of controversy over its decision to keep its knowledge of manipulated data hidden from regulators during an FDA review, Novartis CEO Vas Narasimhan has found a longtime veteran in the ranks to head the scientific work underway at AveXis, where the incident occurred. And the scientific founder has hit the exit.

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Ab­b­Vie gets its FDA OK for JAK in­hibitor upadac­i­tinib, but don’t look for this one to hit ex­ecs’ lofty ex­pec­ta­tions

Another big drug approval came through on Friday afternoon as the FDA OK’d AbbVie’s upadacitinib — an oral JAK1 inhibitor that is hitting the rheumatoid arthritis market with a black box warning of serious malignancies, infections and thrombosis reflecting fears associated with the class.

It will be sold as Rinvoq — at a wholesale price of $59,000 a year — and will likely soon face competition from a drug that AbbVie once controlled, and spurned. Reuters reports that a 4-week supply of Humira, by comparison, is $5,174, adding up to about $67,000 a year.

The top 10 fran­chise drugs in bio­phar­ma his­to­ry will earn a to­tal of $1.4T (tril­lion) by 2024 — what does that tell us?

Just in case you were looking for more evidence of just how important Amgen’s patent win on Enbrel is for the company and its investors, EvaluatePharma has come up with a forward-looking consensus estimate on what the list of top 10 drugs will look like in 2024.

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ICER blasts FDA, PTC and Sarep­ta for high prices on DMD drugs Em­flaza, Ex­ondys 51

ICER has some strong words for PTC, Sarepta and the FDA as the US drug price watchdog concludes that as currently priced, their respective new treatments for Duchenne muscular dystrophy are decidedly not cost-effective.

The final report — which cements the conclusions of a draft issued in May — incorporates the opinion of a panel of 17 experts ICER convened in a public meeting last month. It also based its analysis of Emflaza (deflazacort) and Exondys 51 (eteplirsen) on updated annual costs of $81,400 and over $1 million, respectively, after citing “incorrect” lower numbers in the initial calculations.

The key dates for KRAS watch­ers through the end of the year — the trail is nar­row and risks are ex­treme

There’s nothing quite like a big patent win when it comes to burnishing your prospects in the pipeline. And for Amgen, which seems to have rescued Enbrel for a run to 2029, the cheering section on Wall Street is now fixed on AMG 510 and a key rival.

And it didn’t take much data to do it. 

There was the first snapshot of a handful of patients, with a 50% response rate. Then came word that Amgen researchers are also tracking responses in different cancers, at least one in colorectal cancer and appendiceal too. 

Bain's Or­ly Mis­han joins Pfiz­er's neu­ro spin­out Cerev­el; On­colyt­ic virus biotech taps Sil­la­Jen ex­ec He­le­na Chaye as CEO

→ Bain Capital is deploying one of its top investors to Cerevel Therapeutics, steering a $350 million-plus neuro play carved out of Pfizer. Orly Mishan — a co-founder and principal of Bain’s life sciences unit — was involved in the partnership that birthed the biotech spinout in the first place. As Cerevel’s first chief business officer, she is tasked with corporate development, program management as well as technical operations. 

UP­DAT­ED: Sci­en­tist-CEO ac­cused of im­prop­er­ly us­ing con­fi­den­tial in­fo from uni­corn Alec­tor

The executive team at Alector $ALEC has a bone to pick with scientific co-founder Asa Abeliovich. Their latest quarterly rundown has this brief note buried inside:

On June 18, 2019, we initiated a confidential arbitration proceeding against Dr. Asa Abeliovich, our former consulting co-founder, related to alleged breaches of his consulting agreement and the improper use of our confidential information that he learned during the course of rendering services to us as our consulting Chief Scientific Officer/Chief Innovation Officer. We are in the early stage of this arbitration proceeding and are unable to assess or provide any assurances regarding its possible outcome.

There’s no explicit word in the filing on what kind of confidential info was involved, but the proceeding got started 2 days ahead of Abeliovich’s IPO.

Abeliovich, formerly a tenured associate professor at Columbia, is a top scientist in the field of neurodegeneration, which is where Alector is targeted. More recently, he’s also helped start up Prevail Therapeutics as the CEO, which raised $125 million in an IPO. And there he’s planning on working on new gene therapies that target genetically defined subpopulations of Parkinson’s disease. Followup programs target Gaucher disease, frontotemporal dementia and synucleinopathies.

But this time Abeliovich is the CEO rather than a founding scientist. And some of their pipeline overlaps with Alector’s.

Abeliovich and Prevail, though, aren’t taking this one lying down.

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Chi­na has be­come a CEO-lev­el pri­or­i­ty for multi­na­tion­al phar­ma­ceu­ti­cal com­pa­nies: the trend and the im­pli­ca­tions

After a “hot” period of rapid growth between 2009 and 2012, and a relatively “cooler” period of slower growth from 2013 to 2015, China has once again become a top-of-mind priority for the CEOs of most large, multinational pharmaceutical companies.

At the International Pharma Forum, hosted in March in Beijing by the R&D Based Pharmaceutical Association Committee (RDPAC) and the Pharmaceutical Research and Manufacturers of America (PhRMA), no fewer than seven CEOs of major multinational pharmaceutical firms participated, including GSK, Eli Lilly, LEO Pharma, Merck KGaA, Pfizer, Sanofi and UCB. A few days earlier, the CEOs of several other large multinationals attended the China Development Forum, an annual business forum hosted by the research arm of China’s State Council. It’s hard to imagine any other country, except the US, having such drawing power at CEO level.