Ed Kaye is tak­ing his fledg­ling biotech to Wall Street, look­ing for a new in­jec­tion of cash

Ed Kaye Stoke Ther­a­peu­tics

Ed Kaye should soon be back to run­ning a pub­lic biotech. 

The Stoke Ther­a­peu­tics CEO, who cut short a brief break af­ter his ex­it from Sarep­ta to run the fledg­ling start­up and un­veil a lean $40 mil­lion launch round pri­mar­i­ly from Ap­ple Tree Part­ners, has steered an S-1 to the SEC. And he’s pen­ciled in a $86 mil­lion raise, look­ing for Wall Street to fund their last steps through pre­clin­i­cal work on a lead pro­gram.

The plan is to take the lab work they’ve been do­ing based on Adri­an Krain­er’s in­ves­ti­ga­tions at Cold Spring Har­bor and make that in­to an IND next year and start test­ing it in hu­mans for au­to­so­mal dom­i­nant dis­eases like Dravet syn­drome — their first tar­get.

Adri­an Krain­er Cold Spring Har­bor Lab­o­ra­to­ries

Krain­er, an RNA splic­ing ex­pert who played a key role in the dis­cov­ery of Spin­raza, had been study­ing the body’s ma­chin­ery for mak­ing pro­teins and a method us­ing an­ti­sense oligonu­cleotides to in­crease pro­tein ex­pres­sion. Adding a bioin­for­mat­ics ap­proach, the fledg­ling com­pa­ny was able to iden­ti­fy key dis­eases dri­ven by miss­ing pro­tein — and now they’re out to use the tech to ad­dress dis­eases that seem out­side the realm of such tech­nolo­gies as gene edit­ing or gene ther­a­py.

One of the big dri­ving forces be­hind the start­up is Seth Har­ri­son, the man­ag­ing part­ner at Ap­ple Tree. The ven­ture group cur­rent­ly con­trols 65% of the eq­ui­ty and Har­ri­son sits on the board. Krain­er has 1.8% of the shares while Kaye grabbed a 1.5% slice of the stock, so far.

The move to the pub­lic mar­ket comes amid a new surge of biotech IPOs, which are cur­rent­ly on pace to match the 32 reg­is­tered for all of last year. While not every­one is en­joy­ing great suc­cess at rolling out these IPOs, there is still a large ap­petite for this kind of risk, with in­vestors bet­ting on some very ear­ly-stage sci­ence.

The biotech plans to trade us­ing the $STOK sym­bol.


Im­age: Stoke Ther­a­peu­tics

Pablo Legorreta, founder and CEO of Royalty Pharma AG, speaks at the annual Milken Institute Global Conference in Beverly Hills, California (Patrick T. Fallon/Bloomberg via Getty Images)

Cap­i­tal­iz­ing Pablo: The world’s biggest drug roy­al­ty buy­er is go­ing pub­lic. And the low-key CEO di­vulges a few se­crets along the way

Pablo Legorreta is one of the most influential players in biopharma you likely never heard of.

Over the last 24 years, Legorreta’s Royalty Pharma group has become, by its own reckoning, the biggest buyer of drug royalties in the world. The CEO and founder has bought up a stake in a lengthy list of the world’s biggest drug franchises, spending $18 billion in the process — $2.2 billion last year alone. And he’s become one of the best-paid execs in the industry, reaping $28 million from the cash flow last year while reserving 20% of the cash flow, less expenses, for himself.

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Paul Hudson, Sanofi CEO (Getty Images)

Sanofi CEO Paul Hud­son has $23B burn­ing a hole in his pock­et. And here are some hints on how he plans to spend that

Sanofi has reaped $11.1 billion after selling off a big chunk of its Regeneron stock at $515 a share. And now everyone on the M&A side of the business is focused on how CEO Paul Hudson plans to spend it.

After getting stung in France for some awkward politicking — suggesting the US was in the front of the line for Sanofi’s vaccines given American financial support for their work, versus little help from European powers — Hudson now has the much more popular task of managing a major cash cache to pull off something in the order of a big bolt-on. Or two.

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The Advance Clinical leadership team: CEO Yvonne Lungershausen, Sandrien Louwaars - Director Business Development Operations, Gabriel Kremmidiotis - Chief Scientific Officer, Ben Edwards - Chief Strategy Officer

How Aus­tralia De­liv­ers Rapid Start-up and 43.5% Re­bate for Ear­ly Phase On­col­o­gy Tri­als

About Avance Clinical

Avance Clinical is an Australian owned Contract Research Organisation that has been providing high-quality clinical research services to the local and international drug development industry for 20 years. They specialise in working with biotech companies to execute Phase 1 and Phase 2 clinical trials to deliver high-quality outcomes fit for global regulatory standards.

As oncology sponsors look internationally to speed-up trials after unprecedented COVID-19 suspensions and delays, Australia, which has led the world in minimizing the pandemic’s impact, stands out as an attractive destination for early phase trials. This in combination with the streamlined regulatory system and the financial benefits including a very favourable exchange rate and the R & D cash rebate makes Australia the perfect location for accelerating biotech clinical programs.

Dan O'Day, Gilead CEO (Andrew Harnik, AP Images)

UP­DAT­ED: Gilead leas­es part­ner rights to TIG­IT, PD-1 in a $2B deal with Ar­cus. Now comes the hard part

Gilead CEO Dan O’Day has brokered his way to a PD-1 and lined up a front row seat in the TIGIT arena, inking a deal worth close to $2 billion to align the big biotech closely with Terry Rosen’s Arcus. And $375 million of that comes upfront, with cash for the buy-in plus equity, along with $400 million for R&D and $1.22 billion in reserve to cover opt-in payments and milestones..

Hotly rumored for weeks, the 2 players have formalized a 10-year alliance that starts with rights to the PD-1, zimberelimab. O’Day also has first dibs on TIGIT and 2 other leading programs, agreeing to an opt-in fee ranging from $200 million to $275 million on each. There’s $500 million in potential TIGIT milestones on US regulatory events — likely capped by an approval — if Gilead partners on it and the stars align on the data. And there’s another $150 million opt-in payments for the rest of the Arcus pipeline.

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De­nali un­veils new way of cross­ing blood brain bar­ri­er as the big neu­ro­science bets en­ter its clin­i­cal years

Five years ago, as much of pharma began leaving neuroscience, three big-name scientists from Genentech and some A-list investors, including ARCH and Flagship, made a $217 million bet that new genetic insights and a reliance on biomarkers could bring them success. They called it Denali Therapeutics.

Still, Denali faced the problem that neuroscience developers have faced for decades: How do you get a large molecule across the blood-brain barrier, a natural defense evolved precisely to keep them out? Enzyme replacement therapy, for instance, would be a great candidate to treat several neurological disorders, but enzymes can’t cross the barrier.

Bryan Roberts, Venrock

Ven­rock sur­vey shows grow­ing recog­ni­tion of coro­n­avirus toll, wan­ing con­fi­dence in ar­rival of vac­cines and treat­ments

When Venrock partner Bryan Roberts went to check the results from their annual survey of healthcare leaders, what he found was an imprint of the pandemic’s slow arrival in America.

The venture firm had sent their form out to hundreds of insurance and health tech executives, investors, officials and academics on February 24 and gave them two weeks to fill it out. No Americans had died at that point but the coronavirus had become enough of a global crisis that they included two questions about the virus, including “Total U.S. deaths in 2020 from the novel coronavirus will be:”.

Covid-19 roundup: Roche pairs Actem­ra with remde­sivir in new PhI­II; GSK makes its own 1B vac­cine man­u­fac­tur­ing plan

A month after a small study in France suggested that Roche’s IL-6 inhibitor Actemra helped Covid-19 patients do better — even as Sanofi and Regeneron found somewhat disappointing results with their rival drug — Roche is doubling down on the strategy.

The Swiss pharma giant is kicking off a second Phase III global placebo-controlled study involving Actemra. But rather than testing it as a monotherapy, they will add Gilead’s remdesivir to the regimen.

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Daphne Koller, insitro CEO (insitro)

Daphne Koller’s AI start­up gets $143M in new cash from a16z, oth­ers

Biotech is becoming saturated with machine learning companies promising to reinvent and hasten drug development, but few, if any, have amassed the war chest Daphne Koller has.

Entering Tuesday, the former Stanford professor, MacArthur Fellowship recipient, Coursera founder and chief computing officer of Google’s secretive anti-aging biotech Calico had raised $100 million for her AI startup insitro. Now she’s raised $143 million more.

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Stymied by the pan­dem­ic, Im­munomedic­s' new CEO bows out, tak­ing a mil­lion bucks plus perks as he heads out the vir­tu­al ex­it

Just a little more than a month since taking over as the latest CEO to helm Immunomedics, $IMMU Harout Semerjian is exiting the company after being confronted by “logistical” obstacles thrown up by the pandemic that made it impossible for him to move from London to carry out the job. And he’s getting a little over a million dollars in cash plus perks to grease the skids on the way out.

Word of the changeup arrived right after the market closed Wednesday.

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