Ex-Re­cep­tos CTO co-founds SD start­up Escient, launch­ing with $40M Se­ries A

Af­ter the whop­ping $7.2 bil­lion sale of his last ven­ture, Re­cep­tos, to Cel­gene back in 2015, Mar­cus Boehm wasn’t sup­posed to start an­oth­er com­pa­ny. He was go­ing to take a back­seat, for once. Con­sult. Be on a few boards.

“I’ve been in­volved in three com­pa­nies since found­ing stages, and I was not in­tend­ing to do this again,” Boehm tells me.

Now, he and an­oth­er biotech big shot in San Diego are join­ing forces to launch a rather am­bi­tious start­up, step­ping out Wednes­day with a $40 mil­lion Se­ries A round.

Mar­cus Boehm

You might know Boehm’s name from his time at San Diego’s Re­cep­tos, where he was co-founder and chief tech­nol­o­gy of­fi­cer un­til Cel­gene’s pur­chase. Be­fore that, he was at Con­for­ma un­til it was bought by Bio­gen. Af­ter Re­cep­tos’ sale, Boehm had in­ten­tions of kick­ing back for a while.

But then Alain Baron came along, and he in­tro­duced Boehm to dis­cov­er­ies made by Johns Hop­kins neu­ro­sci­en­tist Xinzhong Dong. To­geth­er, the three of them co-found­ed Escient Phar­ma­ceu­ti­cals, a new San Diego-based com­pa­ny that plans to cre­ate an en­tire­ly new class of drugs.

Boehm said it was this — the al­lure of dis­cov­ery-stage sci­ence — that drew him back in­to the start­up game. If it was a com­pa­ny fur­ther along in de­vel­op­ment, he’d have like­ly passed.

“In many ways, a com­pound will live or die by its prop­er­ties,” Boehm said. “Once it’s in Phase II, there’s not much you can af­fect. If it has tox­i­c­i­ty, for ex­am­ple, there’s not much you can do about it. The dis­cov­ery part is over, and it be­comes a high­ly-or­ches­trat­ed dance of de­vel­op­ment.”

Alain Baron

Boehm serves as Escient’s CSO, while Baron, the founder and for­mer chief ex­ec­u­tive of El­celyx, will head the start­up as CEO.

The com­pa­ny hopes to de­vel­op a pipeline of drugs around a nov­el fam­i­ly of G-pro­tein cou­pled re­cep­tors (GPCRs). GPCRs them­selves are a gi­ant pro­tein fam­i­ly of re­cep­tors that de­tect mol­e­cules out­side the cell and ac­ti­vate cel­lu­lar re­spons­es. If you had to make a wild guess about the tar­get of a cer­tain drug, your best bet is with GPCRs. They make up some­thing like 35% of all drugs on the mar­ket to­day, Baron said.

But Escient has its hands on tech from Dong’s lab on a nov­el fam­i­ly of Mas-re­lat­ed G-pro­tein re­cep­tors, which Baron said have the po­ten­tial to be a com­plete­ly new class of GCPR-tar­get­ed drugs.

“This is not like tak­ing a known tar­get and mak­ing a bet­ter drug or bring­ing an­oth­er med­i­cine to a dis­ease area that’s al­ready well-served,” Baron said. “We’re ac­tu­al­ly go­ing to bring very nov­el ther­a­pies to dis­eases that are un­served — and that’s in­cred­i­bly ex­cit­ing.”

Xinzhong Dong

Baron and Boehme aren’t dis­clos­ing much on their tech, but they did say Escient has nailed down two tar­gets in two in­di­ca­tions. The Se­ries A round — backed by The Col­umn Group, 5AM Ven­tures, and Os­age Uni­ver­si­ty Part­ners — will get the com­pa­ny to the end of 2021. Baron ex­pects the com­pa­ny to be in the clin­ic with one or two pro­grams by then.

In the com­ing months, Escient will be nail­ing down of­fice space for its head­quar­ters in San Diego, hir­ing 15 to 20 peo­ple, and fill­ing out their ex­ec­u­tive team, Baron said.

Brian Kaspar. AveXis via Twitter

AveX­is sci­en­tif­ic founder fires back at No­var­tis CEO Vas Narasimhan, 'cat­e­gor­i­cal­ly de­nies any wrong­do­ing'

Brian Kaspar’s head was among the first to roll at Novartis after company execs became aware of the fact that manipulated data had been included in its application for Zolgensma, now the world’s most expensive therapy.

But in his first public response, the scientific founder at AveXis — acquired by Novartis for $8.7 billion — is firing back. And he says that not only was he not involved in any wrongdoing, he’s ready to defend his name as needed.

I reached out to Brian Kaspar after Novartis put out word that he and his brother Allen had been axed in mid-May, two months after the company became aware of the allegations related to manipulated data. His response came back through his attorneys.

Endpoints News

Basic subscription required

Unlock this story instantly and join 57,900+ biopharma pros reading Endpoints daily — and it's free.

UP­DAT­ED: An em­bold­ened As­traZeneca splurges $95M on a pri­or­i­ty re­view vouch­er. Where do they need the FDA to hus­tle up?

AstraZeneca is in a hurry.

We learned this morning that the pharma giant — not known as a big spender, until recently — forked over $95 million to get its hands on a priority review voucher from Sobi, otherwise known as Swedish Orphan Biovitrum.

That marks another step down on price for a PRV, which allows the holder to slash 4 months off of any FDA review time.

Endpoints News

Basic subscription required

Unlock this story instantly and join 57,900+ biopharma pros reading Endpoints daily — and it's free.

Martin Shkreli [via Getty]

Pris­on­er #87850-053 does not get to add drug de­vel­op­er to his list of cred­its

Just days after Retrophin shed its last ties to founder Martin Shkreli, the biotech is reporting that the lead drug he co-invented flopped in a pivotal trial. Fosmetpantotenate flunked both the primary and key secondary endpoints in a placebo-controlled trial for a rare disease called pantothenate kinase-associated neurodegeneration, or PKAN.

Endpoints News

Basic subscription required

Unlock this story instantly and join 57,900+ biopharma pros reading Endpoints daily — and it's free.

We­bi­nar: Re­al World End­points — the brave new world com­ing in build­ing fran­chise ther­a­pies

Several biopharma companies have been working on expanding drug labels through the use of real world endpoints, combing through the data to find evidence of a drug’s efficacy for particular indications. But we’ve just begun. Real World Evidence is becoming an important part of every clinical development plan, in the soup-through-nuts approach used in building franchises.

I’ve recruited a panel of 3 top experts in the field — the first in a series of premium webinars — to look at the practical realities governing what can be done today, and where this is headed over the next few years, at the prodding of the FDA.

ZHEN SU — Merck Serono’s Senior Vice President and Global Head of Oncology
ELLIOTT LEVY — Amgen’s Senior Vice President of Global Development
CHRIS BOSHOFF — Pfizer Oncology’s Chief Development Officer

A premium subscription to Endpoints News is required to attend this webinar. Please upgrade to either an Insider or Enterprise plan for access. Already have Endpoints Premium? Please sign-in below. You can contact our Subscriptions team at help@endpointsnews.com with any issues.

Endpoints Premium

Premium subscription required

Unlock this article along with other benefits by subscribing to one of our paid plans.

Am­gen, Al­ler­gan biosim­i­lar of Roche's block­buster Rit­ux­an clears an­oth­er US piv­otal study 

Novartis $NVS may have given up, but Amgen $AMGN and Allergan $AGN are plowing ahead with their knockoff of Roche’s blockbuster biologic Rituxan in the United States.

Their copycat, ABP 798, was found to have a clinically equivalent impact as Rituxan — meeting the main goal of the study involving CD20-positive B-cell non-Hodgkin’s lymphoma patients. This is the second trial supporting the profile of the biosimilar. In January, it came through with positive PK results in patients with rheumatoid arthritis.

BeiGene and Mus­tang nail down spe­cial FDA sta­tus for top drugs; Roche bags added cov­er­age for Hem­li­bra

→ BeiGene $BGNE is getting a boost in its drive to field a rival to Imbruvica. The FDA has offered an accelerated review to zanubrutinib, a BTK inhibitor that has posted positive results for mantle cell lymphoma. The PDUFA date lands on February 27, 2020. The drug scored breakthrough status at the beginning of the year.

→ BeiGene isn’t the only biopharma company to gain special regulatory status today. Mustang Bio $MBIO and St. Jude Children’s Research Hospital announced that MB-107, a lentiviral gene therapy for the treatment of X-linked severe combined immunodeficiency, also known as bubble boy disease, has been granted Regenerative Medicine Advanced Therapy status.

Trump ad­min­is­tra­tion re­vives bid to get drug list prices on TV ads

The Trump administration is not giving up just yet. On Wednesday, the HHS filed an appeal against a judge’s decision in July to overturn a ruling obligating drug manufacturers to disclose the list price of their therapies in television adverts — hours before it was stipulated to go into effect.

In May, the HHS published a final ruling requiring drugmakers to divulge the wholesale acquisition cost— of a 30-day supply of the drug — in tv ads in a bid to enhance price transparency in the United States. The pharmaceutical industry has vehemently opposed the rule, asserting that list prices are not what a typical patient in the United States pays for treatment — that number is typically determined by the type of (or lack thereof) insurance coverage, deductibles and out-of-pocket costs. Although there is truth to that claim, the move was considered symbolic in the Trump administration’s healthcare agenda to hold drugmakers accountable in a climate where skyrocketing drug prices have incensed Americans on both sides of the aisle.

Ver­sant-backed Chi­nook gets a $65M launch round for its dis­cov­ery quest in a resur­gent kid­ney field

Versant is once again stepping off the beaten track in biotech to see if they can blaze a trail of their own in a field that has looked too thorny to many investors for years.

The venture group and their partners at Apple Tree are bringing their latest creation out of stealth mode today. Born in Versant’s Inception Sciences’ Chinook Therapeutics is betting that its preclinical take on kidney disease can get an early lead among the companies starting up in the field.

Sir An­drew Dil­lon, NICE's first — and on­ly — chief ex­ec­u­tive to step down next year

Using a laptop borrowed from his former employer, South London’s St George’s Hospital, Sir Andrew Dillon set about establishing NICE — launched by the then health secretary Frank Dobson — in 1999.  On Thursday, the UK cost-effectiveness watchdog said its first and only chief executive — Dillon — is stepping down in March 2020.

Back in the day, decisions about which drugs and interventions were funded by the National Health Service (NHS) were made at the local level, but this ‘postcode prescribing’ system was fraught with skewed healthcare deployment making the structure unsustainable. A national system was deemed necessary — and NICE was formed to bridge that gap.