Cel­gene hands over $101M in cash to launch a re­search col­lab­o­ra­tion with pro­tein play­er Vi­vid­ion

Diego Mi­ralles

A year af­ter Vi­vid­ion Ther­a­peu­tics de­buted with a $50 mil­lion launch round and a plat­form tech cen­tered on drug­ging a whole slate of un­drug­gable pro­teins, the San Diego-based biotech has picked up its first big bio­phar­ma col­lab­o­ra­tion with Cel­gene.

Cel­gene is pay­ing a hefty $101 mil­lion up­front in a fee plus eq­ui­ty deal to see how Vi­vid­ion’s R&D en­gine can work for them in on­col­o­gy, in­flam­ma­tion and neu­rode­gen­er­a­tion — a nascent field for them.

Cel­gene has been knocked around re­peat­ed­ly in re­cent months, watch­ing mon­gersen go down in flames, ex­as­per­at­ing an­a­lysts with weak num­bers and then be­ing em­bar­rassed by an FDA refuse-to-file for its all-im­por­tant ozan­i­mod ap­pli­ca­tion. But the com­pa­ny, which just paid $9 bil­lion to buy Juno, still has one of the busiest BD teams scour­ing the biotech field for new deals. And once again, they’re not afraid to pay an un­usu­al­ly large amount of cash to get a dis­cov­ery deal start­ed with a com­pa­ny that is not yet in the clin­ic.

Why is that?

“We can drug the en­tire pro­teome in its na­tive state,” Vi­vid­ion CEO Diego Mi­ralles tells me, “and that is the trans­for­ma­tion­al po­ten­tial of Vi­vid­ion.”

The plat­form tech­nol­o­gy, he adds, of­fers a view of the “re­al life of a cell that gives you a very dif­fer­en­ti­at­ed and unique in­sight in­to how those pro­teins are be­hav­ing and how they are vul­ner­a­ble to be­ing drugged.”

One as­pect of that are in­sights in­to “pro­tein degra­da­tion around pro­teins that to­day are un­touch­able.”

Mi­ralles — a J&J vet who es­tab­lished the John­son & John­son In­no­va­tion Cen­ters and JLABS — joined the com­pa­ny last fall in a process that saw Cel­gene vet Tom Daniel trade the hands-on ex­ec­u­tive chair­man’s role for the chair­man’s ti­tle. And se­r­i­al biotech en­tre­pre­neur Rich Hey­man, who knows a thing or two about pro­tein degra­da­tion, stepped in to sit on the board.

Ben Cra­vatt

Mi­ralles cred­its sci­en­tif­ic founder Ben Cra­vatt — based in Scripps — with the ear­ly talks that ini­tial­ly at­tract­ed Cel­gene’s at­ten­tion. At Cra­vatt’s Scripps lab re­searchers used frag­ment lig­ands at­tached to a class of chap­er­one mol­e­cules that re­acts with cys­teine amino-acids on pro­teins, lock­ing the lig­ands to the pro­teins with co­va­lent bonds.

Not so un­usu­al­ly there are things that Mi­ralles ei­ther can’t or won’t say about the deal and their own re­search plans.

The split be­tween an up­front fee and eq­ui­ty in the Cel­gene deal? Can’t say.

What kind of tar­gets are they go­ing af­ter here? Can’t say.

Time­line for get­ting pro­grams in­to the clin­ic? Won’t say.

On the oth­er hand the com­pa­ny now has a grow­ing staff of 45 and an in­ter­est in pur­su­ing part­ner­ships like this to lever­age its reach.

A new num­ber 1 drug? Keytru­da tapped to top the 10 biggest block­busters on the world stage by 2024

Analysts may be fretting about Keytruda’s longterm prospects as a host of rival therapies elbow their way to the market. But the folks at Evaluate Pharma are confident that last year’s $7 billion earner is headed for glory, tapping it to beat out the current #1 therapy Humira as AbbVie watches that franchise swoon over the next 5 years.

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The top 10 block­buster drugs in the late-stage pipeline — Eval­u­ate adds 6 new ther­a­pies to heavy-hit­ter list

Vertex comes in for a substantial amount of criticism for its no-holds-barred tactical approach toward wresting the price it wants for its commercial drugs in Europe. But the flip side of that coin is a highly admired R&D and commercial operation that regularly wins kudos from analysts for their ability to engineer greater cash flow from the breakthrough drugs they create.

Both aspects needed for success in this business are on display in the program backing Vertex’s triple for cystic fibrosis. VX-659/VX-445 + Tezacaftor + Ivacaftor — it’s been whittled down to 445 now — was singled out by Evaluate Pharma as the late-stage therapy most likely to win the crown for drug sales in 5 years, with a projected peak revenue forecast of $4.3 billion.

The latest annual list, which you can see here in their latest world preview, includes a roster of some of the most closely watched development programs in biopharma. And Evaluate has added 6 must-watch experimental drugs to the top 10 as drugs fail or go on to a first approval. With apologies to the list maker, I revamped this to rank the top 10 by projected 2024 sales, instead of Evaluate's net present value rankings.

It's how we roll at Endpoints News.

Here is a quick summary of the rest of the top 10:

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In­vestor day prep at Mer­ck in­cludes a new strat­e­gy to pick up the pace on M&A — re­port

Mer­ck’s re­cent deals to buy up two bolt-on biotechs — Ti­los and Pelo­ton — weren’t an aber­ra­tion. In­stead, both ac­qui­si­tions mark a new strat­e­gy to beef up its dom­i­nant can­cer drug op­er­a­tions cen­tered on Keytru­da while look­ing to ad­dress grow­ing con­cerns that too many of its eggs are in the one I/O bas­ket for their PD-1 pro­gram. And Mer­ck is go­ing af­ter more small- and mid-sized buy­outs to calm those fears.

John Chiminski, Catalent CEO - File Photo

'It's a growth play': Catal­ent ac­quires Bris­tol-My­er­s' Eu­ro­pean launch pad, ex­pand­ing glob­al CD­MO ops

Catalent is staying on the growth track.

Just two months after committing $1.2 billion to pick up Paragon and take a deep dive into the sizzling hot gene therapy manufacturing sector, the CDMO is bouncing right back with a deal to buy out Bristol-Myers’ central launchpad for new therapies in Europe, acquiring a complex in Anagni, Italy, southwest of Rome, that will significantly expand its capacity on the continent.

There are no terms being offered, but this is no small deal. The Anagni campus employs some 700 staffers, and Catalent is planning to go right in — once the deal closes late this year — with a blueprint to build up the operations further as they expand on oral solid, biologics, and sterile product manufacturing and packaging.

This is an uncommon deal, Catalent CEO John Chiminski tells me. But it offers a shortcut for rapid growth that cuts years out of developing a green fields project. That’s time Catalent doesn’t have as the industry undergoes unprecedented expansion around the world.

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Dave Barrett, Brian Chee, Amir Nashat, Amy Schulman. Polaris

Bob Langer's first port of call — Po­laris Part­ners — maps $400M for ninth fund

Health and tech ven­ture group Po­laris Part­ners, which counts Alec­tor, Al­ny­lam and Ed­i­tas Med­i­cine as part of its port­fo­lio, is set­ting up its ninth fund, rough­ly two years af­ter it closed Po­laris VI­II with $435 mil­lion in the bank, sur­pass­ing its tar­get by $35 mil­lion.

The Boston-based firm, in an SEC fil­ing, said it in­tends to raise $400 mil­lion for the fund. Po­laris — which rou­tine­ly backs com­pa­nies mold­ed out of the work done in the lab of pro­lif­ic sci­en­tist Bob Langer of MIT  — typ­i­cal­ly in­vests ear­ly, and sticks around till com­pa­nies are in the green. Like its peers at Flag­ship and Third Rock, Po­laris is all about cham­pi­oning the lo­cal biotech scene with a steady flow of start­up cash.

Partners Innovation Fund

David de Graaf now has his $28.5M launch round in place, build­ing a coen­zyme A plat­form in his lat­est start­up

Long­time biotech ex­ec David de Graaf has the cash he needs to set up the pre­clin­i­cal foun­da­tion for his coen­zyme A me­tab­o­lism com­pa­ny Comet. A few high-pro­file in­vestors joined the ven­ture syn­di­cate to sup­ply Comet with $28.5 mil­lion in launch mon­ey — enough to get it two years in­to the plat­form-build­ing game, with­in knock­ing dis­tance of the clin­ic.

Canaan jumped in along­side ex­ist­ing in­vestor Sofinno­va Part­ners to co-lead the round, with par­tic­i­pa­tion by ex­ist­ing in­vestor INKEF Cap­i­tal and new in­vestor BioIn­no­va­tion Cap­i­tal.

Right back at you, Pfiz­er: BeiGene and a Pfiz­er spin­out launch a new­co to de­vel­op a MEK/BRAF in­hibitor that could ri­val $11.4B com­bo

A day af­ter Pfiz­er bought Ar­ray and its ap­proved can­cer com­bo, BeiGene and Pfiz­er spin­out Spring­Works have part­nered in launch­ing a new biotech that has an eye on the very same mar­ket the phar­ma gi­ant just paid bil­lions for. And they’re plan­ning on us­ing an ex-Pfiz­er drug to do it.

In a nut­shell, Chi­na’s BeiGene is toss­ing in a pre­clin­i­cal BRAF in­hibitor — BGB-3245, which cov­ers both V600 and non-V600 BRAF mu­ta­tions — for a big stake in a new, joint­ly con­trolled biotech called Map­Kure with Bain-backed Spring­Works.

Step­ping on Roche's toes, Mer­ck cuts in­to SCLC niche with third-line Keytru­da OK

In the in­creas­ing­ly crowd­ed check­point race, small cell lung can­cer has been a rare area where Roche, a sec­ond run­ner-up, has a lead over the en­trenched lead­ers Mer­ck and Bris­tol-My­ers Squibb. But Mer­ck is fi­nal­ly mak­ing some head­way in that di­rec­tion with the lat­est ap­proval for its PD-1 star.

The lat­est green light en­dors­es Keytru­da in the third-line treat­ment of metasta­t­ic SCLC, where it would be giv­en to pa­tients whose dis­ease ei­ther don’t re­spond to or re­lapse af­ter chemother­a­py, which would have fol­lowed at least one pri­or line of ther­a­py.

Sanofi aligns it­self with Google to stream­line drug de­vel­op­ment

Tech­nol­o­gy is bleed­ing in­to health­care, and big phar­ma is rid­ing the wave. Sanofi $SNY ap­point­ed its first chief dig­i­tal of­fi­cer this Feb­ru­ary, fol­low­ing the foot­steps of its peers. By May, the French drug­mak­er and some of its big phar­ma com­pa­tri­ots joined forces with Google par­ent Al­pha­bet’s Ver­i­ly unit to aug­ment clin­i­cal tri­al re­search. On Tues­day, the Parisian com­pa­ny tied up with Google to ac­cess its cloud com­put­ing and ar­ti­fi­cial in­tel­li­gence tech to spur the de­vel­op­ment of new ther­a­pies.