Con­stel­la­tion joins the mega-round club with $100M raise and plans to pur­sue can­cer stud­ies

Af­ter keep­ing a fair­ly low pro­file for the past few years, Con­stel­la­tion Phar­ma­ceu­ti­cals is step­ping in­to the spot­light this morn­ing, join­ing the megaround club in biotech with a broad­ened syn­di­cate of crossover in­vestors that fits the pro­file for com­pa­nies groom­ing them­selves for an IPO.

Adding in a $48 mil­lion round the com­pa­ny brought in at the end of 2016 — but didn’t spot­light — along with a $100 mil­lion round to­day, CEO Ji­gar Raythatha tells me that the com­pa­ny has now raised a to­tal of $280 mil­lion since launch­ing 10 years ago. And the sto­ry the com­pa­ny is telling now cen­ters con­sid­er­ably on a pair of ear­ly-stage can­cer stud­ies.

The biotech start­ed a Phase Ib/II study of CPI-1205, an EZH2 in­hibitor com­bined with Yer­voy, that they hope will high­light their po­ten­tial in epi­ge­net­ics, di­al­ing down gene ex­pres­sion in can­cer path­ways to en­hance im­muno-on­col­o­gy drugs that have be­come all the rage these days.  The same drug is al­so in an ear­ly study to see if it can boost the ef­fec­tive­ness of Zyti­ga and Xtan­di in prostate can­cer. And their BET drug is look­ing for proof-of-con­cept da­ta for myelofi­bro­sis.

Kei­th Dionne

Raythatha stepped in to take the helm of the Third Rock start­up a year ago af­ter a stint on the BD side of things at Jounce. He took the place of Kei­th Dionne, who went to Third Rock as an en­tre­pre­neur-in-res­i­dence in­cu­bat­ing new biotechs not long af­ter Genen­tech dropped a buy­out op­tion.

The new CEO says there are no “firm plans” for go­ing pub­lic, some­thing that the pre­vi­ous team dis­cussed sev­er­al years ago, but the syn­di­cate that has now pumped in $100 mil­lion for the 10-year-old com­pa­ny brings along the kind of fi­nan­cial mus­cle need­ed to boost a com­pa­ny up to the pub­lic stage.

New in­vestors in­clude Cor­morant As­set Man­age­ment, Deer­field Man­age­ment, Fi­deli­ty Man­age­ment and Re­search Com­pa­ny, Hill­house Cap­i­tal, NS In­vest­ment, Or­biMed, Sirona Cap­i­tal, and Ven­rock Health­care Part­ners. Cur­rent in­vestors: The Col­umn Group, Third Rock Ven­tures, Ven­rock, SROne, Uni­ver­si­ty of Cal­i­for­nia In­vest­ment Of­fice, Top­spin Part­ners, and Cas­din Cap­i­tal.

Pol­ish­ing their I/O cre­den­tials al­so fits the pic­ture of a biotech look­ing to go pub­lic. And Con­stel­la­tion has been a long time mak­ing clin­i­cal plans.

“As you em­bark on var­i­ous busi­ness ven­tures there are twists and turns, and cer­tain­ly we’ve had out share,” the CEO tells me. When he came on board in ear­ly 2017, he adds, there was some need to think through the biotech’s strate­gic po­si­tion­ing, and re­or­ga­nize the team run­ning the com­pa­ny. Now he says he has plen­ty of time to think through things like an IPO.

What kind of an op­er­at­ing run­way does $100 mil­lion get you these days?

Raythatha isn’t say­ing. 

A decade in at Con­stel­la­tion, you still just get a peek at what’s go­ing on be­hind the big cur­tain.

A new era of treat­ment: How bio­mark­ers are chang­ing the way we think about can­cer

AJ Patel was recovering from a complicated brain surgery when his oncologist burst into the hospital room yelling, “I’ve got some really great news for you!”

For two years, Patel had been going from doctor to doctor trying to diagnose his wheezing, only to be dealt the devastating news that he had stage IV lung cancer and only six months to live. And then they found the brain tumors.

“What are you talking about?” Patel asked. He had never seen an oncologist so happy.

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David Ricks, Eli Lilly CEO (David Paul Morris/Bloomberg via Getty Images)

Eli Lil­ly set to in­vest $2.1B in home state man­u­fac­tur­ing boost

Eli Lilly is looking to expand its footprint in its home Hoosier State by making a major investment in manufacturing.

The pharma is investing $2.1 billion in two new manufacturing sites at Indiana’s LEAP Lebanon Innovation and Research District in Boone County, northwest of Lilly’s headquarters in Indianapolis.

The two new facilities will expand Lilly’s manufacturing network for active ingredients and new therapeutic modalities, including genetic medicines, according to a press release.

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US sees spike in Paxlovid us­age as Mer­ck­'s mol­nupi­ravir and As­traZeneca's Evusheld are slow­er off the shelf

New data from HHS show that more than 162,000 courses of Pfizer’s Covid-19 antiviral Paxlovid were administered across the US over the past week, continuing a streak of increased usage of the pill, and signaling not only rising case numbers but more awareness of how to access it.

In comparison to this week, about 670,000 courses of the Pfizer pill have been administered across the first five months since Paxlovid has been on the US market, averaging about 33,000 courses administered per week in that time.

Pfiz­er and CD­MOs ramp up Paxlovid man­u­fac­tur­ing with Kala­ma­zoo plant ex­pan­sion lead­ing the way

As the Covid-19 pandemic continues to evolve, pharma companies and manufacturers are exploring how to step up production on antivirals.

Pfizer is planning to expand its Kalamazoo-area facility to increase manufacturing capabilities for the oral Covid-19 antiviral Paxlovid, according to a report from Michigan-based news site MLive. The expansion of the facility, which serves as Pfizer’s largest manufacturing location, is expected to create hundreds of “high-skilled” STEM jobs, MLive reported. No details about the project’s cost and timeline have been released, but according to MLive, Pfizer will announce the details of the expansion at some point in early June.

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FDA spells out the rules and re­stric­tions for states seek­ing to im­port drugs from Cana­da

The FDA is offering more of an explanation of the guardrails around its program that may soon allow states to import prescription drugs in some select circumstances from Canada, but only if such imports will result in significant cost reductions for consumers.

While the agency has yet to sign off on any of the 5 state plans in the works so far, and PhRMA’s suit to block the Trump-era rule allowing such imports is stalled, the new Q&A guidance spells out the various restrictions that states will have to abide by, potentially signaling that a state approval is coming.

Simba Gill, CEO of Evelo Biosciences

While down 87% YOY, Evelo gets Flag­ship and oth­ers to in­fuse new cap­i­tal for come­back hope

Just four years after Flagship spinout Evelo Biosciences went public in an IPO worth $85 million, the biotech has seen its share price tank from $13 a share this time last year (ultimately reaching a peak of over $17) to now under $1.50. And today, it looks like Flagship still thinks the fledging biotech, in a down market, is still worth something after initial pre-IPO backing from the likes of Google’s GV, Celgene, Mayo Clinic and Alexandria Venture.

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Peter Thompson, Terremoto Biosciences interim CEO

For­mer Prin­cip­ia team looks to shake up co­va­lent small mol­e­cules again, this time at 'earthquake' scale

Terremoto Biosciences goes back a long ways, in a sense, to about a dozen years ago when Principia Biopharma was founded by UCSF professor Jack Taunton. Peter Thompson initially helmed the biotech.

The company helped expand covalent small molecule inhibitors beyond oncology and into autoimmune disease by targeting cystine. But that amino acid is uncommon in a lot of proteins, offering fewer drug targets than, say, lysine, which is present in most proteins of interest. So, over the years, Taunton went back to the drawing board to check out that second amino acid.

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Pfizer CEO Albert Bourla at the World Economic Forum (Gian Ehrenzeller/Keystone via AP Images)

All about ac­cess: Pfiz­er moves to a non-prof­it mod­el for drug sales in 45 low­er-in­come coun­tries

Leading the way to increase access to cheaper drugs worldwide, Pfizer said Wednesday it will provide all current and future patent-protected medicines and vaccines available in the US or EU on a not-for-profit basis to about 1.2 billion people in 45 lower-income countries.

Rwanda, Ghana, Malawi, Senegal and Uganda are the first five countries to sign on to this accord, which will also seek to blaze new paths for quick and efficient regulatory and procurement processes to reduce the usual delays in making new medicines and vaccines available in these countries.

Almirall is tapping artificial intelligence on behalf of its sales force for insights and efficiencies. (via Shutterstock)

Almi­rall rolls out sales rep ar­ti­fi­cial in­tel­li­gence sys­tem, cut­ting pre-call prep and 'wind­shield time'

Dermatology specialty pharma Almirall is making its sales reps smarter. Not with extra training or educational courses, but instead with artificial intelligence tools.

It began a soft launch of a sales rep AI and machine learning platform it calls Polaris last August in one of its 7 US coverage regions. The platform from Aktana gathers information from across Almirall internal sources and external ones – such as claims and prescribing data – to generate insights for reps. Now, instead of spending hours prepping for a sales call, Polaris can generate details about a physician’s preferences, past behaviors and prescription habits for reps in minutes, said Almirall head of commercial operations Vincent Cerio.

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