Biotech billionaire Dietmar Hopp digs deeper to back one of the drug developers in his portfolio
Biotech billionaire Dietmar Hopp is opening up the cash vault to help out one of his biotech startups.
Operating through dievini Hopp BioTech holding, Hopp has sunk a little more than $40 million into Heidelberg Pharma. The money can be put to use on the Phase I/II clinical program for their lead drug: HDP-101, a BCMA ATAC for multiple myeloma. HDP-102, a CD37 ATAC for non-Hodgkin’s lymphoma, and HDP-103, a PSMA ATAC for metastatic castration-resistant prostate cancer, are in preclinical testing.
Hopp has been an avid biotech investor in the years since he exited SAP, a software outfit which he co-founded with a group of ex-IBMers and led for 10 years as CEO. CureVac, one of the mRNA players which allied with GSK but remains well behind the leaders in developing a new vaccine for Covid, is one of his biggest plays. Hopp is also a key backer for Immatics, which is looking to break new ground in cell therapies for cancer.
Heidelberg registers on the small side of the biotech scale, especially after watching the stock $HPHA slide slightly more than 50% on the Frankfurt exchange over the past year as the drug development field lost its allure for generalist investors. In this case, having a billionaire backer can come in very handy.
Heidelberg itself was formed a little more than 5 years ago using BCMA antibody tech — dubbed ATACs — out of the Max Delbrück Center for Molecular Medicine. Their lead drug uses a BCMA antibody, a linker and the toxin amanitin.