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.

Atul Deshpande, Harbour BioMed chief strategy officer & head, US operations (Harbour BioMedO

An­oth­er biotech IPO set-up? Multi­na­tion­al biotech leaps from round to round, scoop­ing up cash at a blis­ter­ing pace

A short four months after announcing a $75 million haul in Series B+ fundraising, the multinational biotech Harbour BioMed pulled in another round of investments and eclipsed the nine-digit mark in the process.

Harbour completed its Series C financing, the company announced Thursday morning, raising $102.8 million and bringing its total investment sum to over $300 million since its founding in late 2016. The biotech plans to use the money to transition early-stage candidates from the discovery phase, fund candidates already in the clinic, and prep late-stage candidates for commercialization.

Endpoints News

Keep reading Endpoints with a free subscription

Unlock this story instantly and join 84,800+ biopharma pros reading Endpoints daily — and it's free.

Ed Engleman (Stanford Blood Center)

Stan­ford star on­col­o­gy sci­en­tist Ed En­gle­man helped cre­ate the im­munother­a­py field. Now he wants to shake up neu­rode­gen­er­a­tion R&D

Over the last generation of drug R&D, Ed Engleman has been a standout scientist.

The Stanford professor co-founded Dendreon and provided the scientific insights needed to develop Provenge into a pioneering — though not particularly marketable — immunotherapy. He’s spurred a slate of startups, assisted by his well-connected perch as a co-founder of Vivo Capital, and took the dendritic cell story into its next chapter at a startup called Bolt.

Endpoints News

Keep reading Endpoints with a free subscription

Unlock this story instantly and join 84,800+ biopharma pros reading Endpoints daily — and it's free.

UP­DAT­ED: Bio­gen shares spike as ex­ecs com­plete a de­layed pitch for their con­tro­ver­sial Alzheimer's drug — the next move be­longs to the FDA

Biogen is stepping out onto the high wire today, reporting that the team working on the controversial Alzheimer’s drug aducanumab has now completed their submission to the FDA. And they want the agency to bless it with a priority review that would cut the agency’s decision-making time to a mere 6 months.

The news drove a 10% spike in Biogen’s stock $BIIB ahead of the bell.

Part of that spike can be attributed to a relief rally. Biogen execs rattled backers and a host of analysts earlier in the year when they unexpectedly delayed their filing to the third quarter. That delay provoked all manner of speculation after CEO Michel Vounatsos and R&D chief Al Sandrock failed to persuade influential observers that the pandemic and other factors had slowed the timeline for filing. Actually making the pitch at least satisfies skeptics that the FDA was not likely pushing back as Biogen was pushing in. From the start, Biogen execs claimed that they were doing everything in cooperation with the FDA, saying that regulators had signaled their interest in reviewing the submission.

Endpoints News

Keep reading Endpoints with a free subscription

Unlock this story instantly and join 84,800+ biopharma pros reading Endpoints daily — and it's free.

Regeneron CEO Leonard Schleifer speaks at a meeting with President Donald Trump, members of the Coronavirus Task Force, and pharmaceutical executives in the Cabinet Room of the White House (AP Photo/Andrew Harnik)

OWS shifts spot­light to drugs to fight Covid-19, hand­ing Re­gen­eron $450M to be­gin large scale man­u­fac­tur­ing in the US

The US government is on a spending spree. And after committing billions to vaccines defense operations are now doling out more of the big bucks through Operation Warp Speed to back a rapid flip of a drug into the market to stop Covid-19 from ravaging patients — possibly inside of 2 months.

The beneficiary this morning is Regeneron, the big biotech engaged in a frenzied race to develop an antibody cocktail called REGN-COV2 that just started a late-stage program to prove its worth in fighting the virus. BARDA and the Department of Defense are awarding Regeneron a $450 million contract to cover bulk delivery of the cocktail starting as early as late summer, with money added for fill/finish and storage activities.

Endpoints News

Keep reading Endpoints with a free subscription

Unlock this story instantly and join 84,800+ biopharma pros reading Endpoints daily — and it's free.

Nello Mainolfi (Kymera via YouTube)

Out to re­vive R&D, a resur­gent Sanofi pays $150M cash to part­ner up with a pi­o­neer­ing pro­tein degra­da­tion play­er

Frank Nestle was appointed Sanofi’s global head of immunology and inflammation research therapeutic area just days before dupilumab, the blockbuster-to-be IL-4 antibody, would be accepted for priority review. After four years of consolidating immunology expertise from multiple corners of the Sanofi family and recruiting new talents to build the discovery engine, he’s set eyes on a Phase I-ready program that he believes can grow into a Dupixent-sized franchise.

Covid-19 roundup: CDC de­bat­ing who should get first avail­able vac­cines; EU in Gilead talks af­ter US gob­bled first remde­sivir dos­es

The federal government has now spent billions of dollars accelerating the development of a Covid-19 vaccine, and yet they’ve remained hush-hush on who, precisely, would actually get inoculated once the first doses are approved and available. Internally, though, they have been debating it.

The CDC and an advisory committee of outside health experts have been working since April to devise a ranking system that would determine who receives a vaccine and when, The New York Times reported. The question of who is first in line for inoculation is important because no matter how many doses developers can make or how quickly they can make them, doses will still come out in batches; 300 million inoculations will not appear overnight.

Endpoints News

Keep reading Endpoints with a free subscription

Unlock this story instantly and join 84,800+ biopharma pros reading Endpoints daily — and it's free.

Noubar Afeyan, Flagship CEO and Tessera chairman (Victor Boyko/Getty Images)

Flag­ship ex­ecs take a les­son from na­ture to mas­ter ‘gene writ­ing,’ launch­ing a star-stud­ded biotech with big am­bi­tions to cure dis­ease

Flagship Pioneering has opened up its deep pockets to fund a biotech upstart out to revolutionize the whole gene therapy/gene editing field — before gene editing has even made it to the market. And they’ve surrounded themselves with some marquee scientists and execs who have crowded around to help shepherd the technology ahead.

The lead player here is Flagship general partner Geoff von Maltzahn, an MIT-trained synthetic biologist who set out in 2018 to do CRISPR — a widely used gene editing tool — and other rival technologies one or two better. Von Maltzahn has been working with Sana co-founder Jake Rubens, another synthetic biology player out of MIT who he describes as his “superstar,” who’s taken the CSO role.

Endpoints News

Keep reading Endpoints with a free subscription

Unlock this story instantly and join 84,800+ biopharma pros reading Endpoints daily — and it's free.

Francis Collins, NIH director (Sean Zanni/Patrick McMullan via Getty Images)

NIH kicks off Covid-19 vac­cine, mon­o­clon­al an­ti­body re­search net­work

The NIH today announced the kickoff of a national clinical trials network to test vaccines and other treatments that could prevent infection with SARS-CoV-2, the virus that causes infection with Covid-19.

The network has been established by the National Institute of Allergy and Infectious Diseases (NIAID) through the merger of four previously existing clinical trials networks that focused on HIV/AIDS.

Daniel O'Day, Gilead CEO (Kevin Dietsch/UPI/Bloomberg via Getty Images)

A new study points to $6.5B in pub­lic sup­port build­ing the sci­en­tif­ic foun­da­tion of Gilead­'s remde­sivir. Should that be re­flect­ed in the price?

By drug R&D standards, Gilead’s move to repurpose remdesivir for Covid-19 and grab an emergency use authorization was a remarkably easy, low-cost layup that required modest efficacy and a clean safety profile from just a small group of patients.

The drug OK also arrived after Gilead had paid much of the freight on getting it positioned to move fast.

In a study by Fred Ledley, director of the Center for Integration of Science and Industry at Bentley University in Waltham, MA, researchers concluded that the NIH had invested only $46.5 million in the research devoted to the drug ahead of the pandemic, a small sum compared to the more than $1 billion Gilead expected to spend getting it out this year, all on top of what it had already cost in R&D expenses.

Endpoints Premium

Premium subscription required

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