Armed an­ti­body play­er ADC lands a $105M mega-round to back pipeline con­struc­tion

Chris Mar­tin, ADC Ther­a­peu­tics

Chris Mar­tin’s ADC Ther­a­peu­tics has roped in a $105 mil­lion mega-round to back his an­ti­body-drug con­ju­gate start­up ADC Ther­a­peu­tics, based in Lau­sanne, Switzer­land. Found­ing in­vestor Au­ven Ther­a­peu­tics came back in for the sec­ond fundrais­ing, along with the Wild Fam­i­ly Of­fice and phar­ma gi­ant As­traZeneca, which has been part­nered with the biotech.

The biotech has now raised $255 mil­lion for its work, with plans to launch an IPO when the tim­ing is right. And some of this new mon­ey is be­ing re­served to build out man­u­fac­tur­ing op­er­a­tions.

While an­ti­body-drug con­ju­gates have been around for years, de­vel­op­ing pre­cise­ly aimed weapons that can drop a pow­er­ful pay­load on tar­get, ADC has helped dis­tin­guish it­self with its pyrroloben­zo­di­azepine war­heads, which are tout­ed as pow­er­ful­ly de­struc­tive to can­cer cells.

“The bot­tom line is that we’ve tak­en 2 drugs in­to 4 clin­i­cal tri­als and those tri­als have done well,” Mar­tin tells me. And now that Seat­tle Ge­net­ics as well as Ab­b­Vie’s new­ly ac­quired Stem­cen­tryx team (ac­quired in a jaw-drop­ping $5.8 bil­lion buy­out) have moved straight from Phase Ib in­to reg­is­tra­tional stud­ies with AD­Cs, the CEO be­lieves that his com­pa­ny can do the same thing. This new round not on­ly ex­pands the pipeline, it al­so al­lows for the launch of a cou­ple of piv­otal stud­ies.

The biotech may be based in Lau­sanne, but it’s thor­ough­ly glob­al. ADC has a man­u­fac­tur­ing arm in the San Fran­cis­co area. It has pre­clin­i­cal R&D in Lon­don and the clin­i­cal-stage team is in New Jer­sey. Right now 42 peo­ple are on staff, which Mar­tin says will now scale up to the high 50s in short or­der.

Mar­tin helped arrange the sale of UK-based Spirogen to As­traZeneca in 2013, and then joined the phar­ma com­pa­ny for 18 months be­fore leap­ing back in­to biotech and join­ing the Spirogen spin­off as CEO.

As of now, ADC has two ther­a­pies — AD­CT-301 and AD­CT-402 — in four stud­ies for lym­phoma and leukemia. Two more are slat­ed for the clin­ic in com­ing months and ADC ex­pects to have a pipeline with 7 ther­a­pies in hu­man stud­ies be­fore mid-2018.

BiTE® Plat­form and the Evo­lu­tion To­ward Off-The-Shelf Im­muno-On­col­o­gy Ap­proach­es

Despite rapid advances in the field of immuno-oncology that have transformed the cancer treatment landscape, many cancer patients are still left behind.1,2 Not every person has access to innovative therapies designed specifically to treat his or her disease. Many currently available immuno-oncology-based approaches and chemotherapies have brought long-term benefits to some patients — but many patients still need other therapeutic options.3

Is a pow­er­house Mer­ck team prepar­ing to leap past Roche — and leave Gilead and Bris­tol My­ers be­hind — in the race to TIG­IT dom­i­na­tion?

Roche caused quite a stir at ASCO with its first look at some positive — but not so impressive — data for their combination of Tecentriq with their anti-TIGIT drug tiragolumab. But some analysts believe that Merck is positioned to make a bid — soon — for the lead in the race to a second-wave combo immuno-oncology approach with its own ambitious early-stage program tied to a dominant Keytruda.

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FDA de­lays de­ci­sion on No­var­tis’ po­ten­tial block­buster MS drug, wip­ing away pri­or­i­ty re­view

So much for a speedy review.

In February, Novartis announced that an application for their much-touted multiple sclerosis drug ofatumumab had been accepted and, with the drug company cashing in on one of their priority review vouchers, the agency was due for a decision by June.

But with June less than 48 hours old, Novartis announced the agency has extended their review, pushing back the timeline for approval or rejection to September. The Swiss pharma filed the application in December, meaning their new schedule will be nearly in line with the standard 10-month window period had they not used the priority voucher.

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Leen Kawas, Athira CEO (Athira)

Can a small biotech suc­cess­ful­ly tack­le an Ever­est climb like Alzheimer’s? Athi­ra has $85M and some in­flu­en­tial back­ers ready to give it a shot

There haven’t been a lot of big venture rounds for biotech companies looking to run a Phase II study in Alzheimer’s.

The field has been a disaster over the past decade. Amyloid didn’t pan out as a target — going down in a litany of Phase III failures — and is now making its last stand at Biogen. Tau is a comer, but when you look around and all you see is destruction, the idea of backing a startup trying to find complex cocktails to swing the course of this devilishly complicated memory-wasting disease would daunt the pluckiest investors.

Pfiz­er’s Doug Gior­dano has $500M — and some ad­vice — to of­fer a cer­tain breed of 'break­through' biotech

So let’s say you’re running a cutting-edge, clinical-stage biotech, probably public, but not necessarily so, which could see some big advantages teaming up with some marquee researchers, picking up say $50 million to $75 million dollars in a non-threatening minority equity investment that could take you to the next level.

Doug Giordano might have some thoughts on how that could work out.

The SVP of business development at the pharma giant has helped forge a new fund called the Pfizer Breakthrough Growth Initiative. And he has $500 million of Pfizer’s money to put behind 7 to 10 — or so — biotech stocks that fit that general description.

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GSK presents case to ex­pand use of its lu­pus drug in pa­tients with kid­ney dis­ease, but the field is evolv­ing. How long will the mo­nop­oly last?

In 2011, GlaxoSmithKline’s Benlysta became the first biologic to win approval for lupus patients. Nine years on, the British drugmaker has unveiled detailed positive results from a study testing the drug in lupus patients with associated kidney disease — a post-marketing requirement from the initial FDA approval.

Lupus is a drug developer’s nightmare. In the last six decades, there has been just one FDA approval (Benlysta), with the field resembling a graveyard in recent years with a string of failures including UCB and Biogen’s late-stage flop, as well as defeats in Xencor and Sanofi’s programs. One of the main reasons the success has eluded researchers is because lupus, akin to cancer, is not just one disease — it really is a disease of many diseases, noted Al Roy, executive director of Lupus Clinical Investigators Network, an initiative of New York-based Lupus Research Alliance that claims it is the world’s leading private funder of lupus research, in an interview.

Covid-19 roundup: Mod­er­na read­ies to en­ter PhI­II in Ju­ly, As­traZeneca not far be­hind; EU ready to ne­go­ti­ate vac­cine ac­cess with $2.7B fund

Moderna may soon add another first to the Covid-19 vaccine race.

In March, the mRNA biotech was the first company to put a Covid-19 vaccine into humans. Next month, they may become the first company to put their vaccine into the large, late-stage trials that are needed to prove whether the vaccine is effective.

In an interview with JAMA editor Howard Bauchner, NIAID chief Anthony Fauci said that a 30,000-person, Phase III trial for Moderna’s vaccine could start in July. The news comes a week after Moderna began a Phase II study that will enroll several hundred people.

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José Basel­ga finds promise in new class of RNA-mod­i­fy­ing can­cer tar­gets, lock­ing in 3 pre­clin­i­cal pro­grams with $55M

Having dived early into some of the RNA breakthroughs of the last decades — betting on Moderna’s mRNA tech and teaming up with Silence on the siRNA front — AstraZeneca is jumping into a new arena: going after proteins that modify RNA.

Their partner of choice is Accent Therapeutics, which is receiving $55 million in upfront payment to steer a selected preclinical program through to the end of Phase I. After AstraZeneca takes over, the Lexington, MA-based startup has the option to co-develop and co-commercialize in the US — and collect up to $1.1 billion in milestones in the long run. The deal also covers two other potential drug candidates.

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Joseph Kim, Inovio CEO (Andrew Harnik, AP Images)

Caught in a stand­off with its con­tract man­u­fac­tur­er over Covid-19 vac­cine, In­ovio files suit in an at­tempt to break free while ri­vals race ahead

Inovio was one of the first vaccine developers to snag attention for a jab that their execs said promised to end the Covid-19 pandemic. Using their own unique DNA tech, CEO Joseph Kim said it took just 3 hours to work it out.

But while rivals are racing to the finish line with ambitious plans to make vast quantities of their vaccines with billions of dollars of deals, Inovio is still stuck at the starting line on manufacturing.