Another one of Bob Langer's MIT postdocs scores a biotech deal, auctioning his startup for up to $415M
Another one of Bob Langer’s former postdocs has scored a win in the biotech field.
Bryan Laulicht has struck a deal to sell a little biotech he built up to AMAG Pharmaceuticals, which likes the late-stage anticoagulant reversal agent he has been developing with the team at Perosphere Pharmaceuticals.
AMAG is paying $50 million in cash to buy the company while assuming $18.2 million in debt and liabilities. There’s $140 million in regulatory milestones on the table, with a lump sum payout for an FDA approval without a black box warning as well as $40 million for an EMA OK. Another $225 million is built in for sales goals.
In exchange, AMAG is getting ciraparantag, which Perosphere says is a “next gen” agent that can swiftly attach to and reverse the big anticoagulants on the market in an emergency room setting as physicians work to prevent potentially lethal bleeding events.
AMAG chief William Heiden says he’s happy to nab the late-stage treatment, which he believes will be a good fit for the hematology team marketing Feraheme.
The small molecule agent is designed to work with anticoagulants like Xarelto, Eliquis, Savaysa and Lovenox.
MIT Professor Bob Langer has been a prolific entrepreneur in and around the Cambridge, MA area, helping launch more than 30 biotechs. He has a significant piece of the equity in Moderna and a long lineup of his former students — like Bryan Laulicht — have been inspired to start companies of their own while working in his lab.
“Bryan is a really bright, creative guy,” Langer tells me via email.
“We look forward to working with the FDA to confirm the design of our Phase 3 program, which is expected to include a Phase 3a trial in healthy volunteers followed by a Phase 3b/4 trial in patients,” said Julie Krop, chief medical officer and executive vice president of development at AMAG.