Back to the be­gin­ning: Pfiz­er seeds dis­cov­ery-stage neu­ro start­up Mag­no­lia (af­ter ax­ing its own brain R&D)

Af­ter yank­ing its own neu­ro­science ef­forts —  and re­treat­ing from the fail­ure-strewn bat­tle­ground of brain sci­ence — Pfiz­er is ped­al­ing back to the be­gin­ning in this field. The phar­ma gi­ant is fund­ing a brand-new MD An­der­son spin­out that’s ques­tion­ing the very ba­sics of neu­rode­gen­er­a­tion.

The start­up, called Mag­no­lia Neu­ro­sciences (“Mag­no­lia” as a nod to its Texas roots), is be­ing rather tightlipped about what it’s work­ing on. But CEO Thong Le tells me the com­pa­ny is steer­ing away from tra­di­tion­al ef­forts in the field.

In short, the start­up is tap­ping a body of lit­er­a­ture around a bi­o­log­i­cal process that oc­curs in the womb dur­ing the ear­li­est stages of life. When an em­bryo is form­ing, the body trash­es ex­cess neu­rons in a process called “pro­grammed cell death.” Re­search shows that this same process is re­ac­ti­vat­ed in the brain through­out the course of Alzheimer’s dis­ease, among oth­er neu­ro con­di­tions. Mag­no­lia is hy­poth­e­siz­ing that block­ing spe­cif­ic com­po­nents of this process will pre­serve brain tis­sue in hu­mans and — hope­ful­ly — pre­vent mem­o­ry loss. That’s what they’ve seen in mouse mod­els, any­way.

“Not on­ly can you pre­serve brain tis­sue and en­hance mem­o­ry, but — from a more bi­o­log­i­cal point of view — you could dra­mat­i­cal­ly change the course and de­vel­op­ment of neu­ro­log­i­cal dis­ease,” Le said.

To get to work on the idea, Mag­no­lia has round­ed up $31 mil­lion in a Se­ries A packed with high pro­file cor­po­rate VCs. The stel­lar syn­di­cate was put to­geth­er by Ac­cel­er­a­tor Life Sci­ence Part­ners, a start­up fac­to­ry that churns out these ven­tures by shop­ping aca­d­e­m­ic labs and oth­er hubs of in­no­va­tion around the globe. Once they find some­thing promis­ing, they put to­geth­er a team and spin the tech out in­to a start­up of its own.

It should be not­ed that Le is the CEO at Ac­cel­er­a­tor, which is why he’s head­ing up Mag­no­lia for the time be­ing.

Ac­cel­er­a­tor has satel­lites in New York, Seat­tle, and San Diego, and has launched sev­en star­tups since its in­cep­tion. One of their ven­tures is Lo­do Ther­a­peu­tics, the New York-based com­pa­ny that scored a $969 mil­lion (biobucks) deal with Genen­tech in metage­nomics ear­li­er this year.

Mag­no­lia man­aged to at­tract a slew of cor­po­rate VCs, in­clud­ing the afore­men­tioned Pfiz­er, Eli Lil­ly, Ab­b­Vie Ven­tures, and John­son & John­son In­no­va­tion, among oth­ers. You can see the full list on the com­pa­ny’s press re­lease.

Af­ter scrap­ping its own neu­ro­science work ear­li­er this year, some might see Pfiz­er’s in­vest­ment in star­tups as putting a bandaid over a gap­ing hole. But the phar­ma gi­ant is mak­ing an ef­fort to seed in­no­va­tion out­side of its own labs. In June, the com­pa­ny com­mit­ted an ad­di­tion­al $150 mil­lion to its VC group to in­vest in neu­ro­science star­tups. This in­vest­ment in Mag­no­lia is one of the first bets, it seems.

Le said it ac­tu­al­ly makes a lot of sense for large phar­ma­ceu­ti­cal com­pa­nies to leave the ear­ly dis­cov­ery work to small­er biotechs.

“When it comes to de­vel­op­ing drugs for com­plex dis­eases like Alzheimer’s, to some ex­tent we’re muck­ing with bi­ol­o­gy that we don’t re­al­ly have a per­fect un­der­stand­ing of, which re­quires tak­ing cal­cu­lat­ed risk from a de­vel­op­ment per­spec­tive,” he said. “Large phar­ma com­pa­nies that are pub­licly trad­ed don’t have as much flex­i­bil­i­ty as they’d like to have in terms of be­ing ag­ile and tak­ing the leaps of faith need­ed to push an ear­ly stage pro­gram ag­gres­sive­ly for­ward.”

Le said this lat­est round of fund­ing should move Mag­no­lia to­ward clin­i­cal de­vel­op­ment, al­though he’s not shar­ing time­lines just yet.


Im­age: Ac­cel­er­a­tor and Mag­no­lia CEO Thong Le. Mag­no­lia

Janet Woodcock (Greg Nash/Pool via AP Images)

'I re­al­ly don’t look back': Janet Wood­cock on her tran­si­tion away from drugs

Janet Woodcock may have one of the most historically long and drug-intense tenures in FDA history, but her new role is outside of all things pharma and the once-acting FDA commissioner isn’t looking back.

“No I really don’t look back,” Woodcock told Endpoints News via email on Monday morning. “Yes I will be transitioning. Longer discussion on infrastructure needed.”

Co­pay coupons gone wrong, again: Pfiz­er pays al­most $300K to set­tle com­plaints in four states

Pfizer has agreed to pay $290,000 to settle allegations of questionable copay coupon practices in Arizona, Colorado, Kansas, and Vermont from 2014 to 2018.

While the company has not admitted any wrongdoing as part of the settlement, Pfizer has agreed to issue restitution checks to about 5,000 consumers.

A Pfizer spokesperson said the company has “enhanced its co-pay coupons to alleviate the concerns raised by states and agreed to a $30,000 payment to each.”

Delaware court rules against Gilead and Astel­las in years-long patent case

A judge in Delaware has ruled against Astellas Pharma and Gilead in a long-running patent case over Pfizer-onwed Hospira’s generic version of Lexiscan.

The case kicked off in 2018, after Hospira submitted an Abbreviated New Drug Application (ANDA) for approval to market a generic version of Gilead’s Lexiscan. The drug is used in myocardial perfusion imaging (MPI), a type of nuclear stress test.

Taye Diggs (courtesy Idorsia)

Idor­sia inks an­oth­er celebri­ty en­dors­er deal with ac­tor and dad Taye Dig­gs as Qu­viviq in­som­nia am­bas­sador

Idorsia’s latest Quviviq insomnia campaign details the relatable dad story of a well-known celebrity — actor and Broadway star Taye Diggs.

Diggs stopped sleeping well after the birth of his son, now more than 10 years ago. Switching mom-and-dad nightly shifts to take care of a baby interrupted his sleep patterns and led to insomnia.

“When you’re lucky enough to be living out your dream and doing what you want, but because of something as simple as a lack of sleep, you’re unable to do that, it felt absolutely — it was treacherous,” he says in an interview-style video on the Quviviq website.

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Belén Garijo, Merck KGaA CEO (Kevin Wolf/AP Images for EMD Serono)

Mer­ck KGaA pumps €440M in­to ex­pand­ing and con­struct­ing Irish man­u­fac­tur­ing fa­cil­i­ties

The area of Ireland famous for Blarney Castle and its cliffsides along the Atlantic Ocean is seeing Merck KGaA expand its commitment there.

The German drug manufacturer is expanding its membrane and filtration manufacturing capabilities in Ireland. The company will invest approximately €440 million ($470 million) to increase membrane manufacturing capacity in Carrigtwohill, Ireland, and build a new manufacturing facility at Blarney Business Park, in County Cork, Ireland.

Rep. Katie Porter (D-CA) (Michael Brochstein/Sipa USA/Sipa via AP Images)

House Dems to Sen­ate lead­er­ship: Quick­ly move a rec­on­cil­i­a­tion bill with drug price ne­go­ti­a­tion re­forms

Twenty House Democrats, including Reps. Katie Porter of California and Susan Wild of Pennsylvania, are calling on Senate leaders to move quickly with a reconciliation bill (meaning they only need a simple majority for passage) with prescription drug pricing reforms, and to include adding new authority for Medicare to negotiate drug prices.

They also called on the Senate to specifically follow suit with the House passage of a $35 per month insulin cap (as Senate Majority Leader Chuck Schumer’s deadline for a vote on that provision has come and gone), and to cap Medicare Part D costs at $2,000 per year for seniors.

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

'Xeno­trans­plan­ta­tion is com­ing': New NE­JM pa­per gives de­tailed look in­to 2 pig-to-hu­man kid­ney trans­plant cas­es

The thymokidney is a curious organ, if you could call it that. It’s a sort of Frankensteinian creation — a system of pig thymus embedded underneath the outer layer of a pig’s kidney, made for human transplantation.

In the first case of pig-to-human xenotransplantation of a kidney into a brain-dead patient, the thymokidney quietly featured front and center.

In that experiment, which took place in September of last year, NYU researchers led by Robert Montgomery sutured a pig thymokidney onto the leg of a brain-dead 66-year-old woman. That case was widely reported on by a horde of major media outlets, including the New York Times, the BBC, and an in-depth feature by USA Today.

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Phillip Gomez, SIGA CEO

UP­DAT­ED: On the back of SIGA Tech­nolo­gies' win with the FDA, the mon­key­pox virus sees the com­pa­ny spring­ing to fur­ther ac­tion

As the cases of monkeypox now sit at well over 100 worldwide and have spread to multiple continents, the orders for any type of vaccine against monkeypox are seeing nations and medical bodies looking to get their hands on anything and everything. And now SIGA Technologies seems to be getting in on the action.

According to Euronews, SIGA Technologies, a pharmaceutical company that is focused on providing medical countermeasures to biological and chemical attacks, is now in talks with several European authorities looking to stockpile its antiviral that can counter monkeypox. The drug known as tecovirimat or Tpoxx was approved by the FDA in 2018 as a vaccine for smallpox but was approved by the European Medicines Agency to also act against monkeypox, cowpox and complications from immunization with vaccinia.

Vlad Coric, Biohaven CEO

UP­DAT­ED: Fresh off $11.6B sale to Pfiz­er, New Bio­haven hits Phase III set­back just weeks af­ter Vlad Coric chalked up promise

When Pfizer bought up Biohaven’s migraine portfolio in the largest M&A deal of the year earlier this month, Biohaven CEO Vlad Coric promised the rest of the pipeline, which will live on under the umbrella of New Biohaven, still has a lot to offer. But that vision took a dent Monday as the drugmaker revealed it’s once again flopped on troriluzole.

The glutamate regulator failed to meet the primary endpoint on a Phase III study in patients with spinocerebellar ataxia, an inherited disorder that impairs a person’s ability to walk, speak and swallow. SCA can also lead to premature death.

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