Fi­bro­Gen shares rock­et up on pos­i­tive PhII da­ta in id­io­path­ic pul­monary fi­bro­sis

Thomas B. Neff

Shares of Fi­bro­gen $FGEN soared 62% af­ter the mar­ket close on Mon­day as the San Fran­cis­co-based biotech gave in­vestors a sign that its mid-stage study of pam­revlum­ab de­liv­ered a sta­tis­ti­cal­ly sig­nif­i­cant re­sult for id­io­path­ic pul­monary fi­bro­sis. Fi­bro­Gen end­ed the day with a mar­ket cap of $2.3 bil­lion, with the new mid-stage da­ta adding more than a bil­lion dol­lars to that.

At least one promi­nent an­a­lyst has changed his mind about this drug now, of­fer­ing peak sales es­ti­mates scrap­ing the block­buster mark.

Next stop, ac­cord­ing to the biotech: Phase III for IPF, with more da­ta com­ing in this drug for pan­cre­at­ic can­cer lat­er this year.

Some an­a­lysts fol­low­ing Fi­bro­gen have seen this drug as some­thing of a dark horse, com­ing in large­ly un­no­ticed be­hind the lead pro­gram for rox­adu­s­tat for chron­ic kid­ney dis­ease, which the biotech ex­pects to file next year – all things go­ing well.

And things have been go­ing well for Fi­bro­Gen, which re­port­ed near the be­gin­ning of this year that its As­traZeneca-part­nered Phase III ane­mia stud­ies on rox­adu­s­tat in Chi­na scored promis­ing da­ta. Fi­bro­Gen’s drug is in head-to-head com­pe­ti­tion with Ake­bia with a ther­a­peu­tic ap­proach that al­so mim­ics the ef­fect of high al­ti­tudes in ad­dress­ing ane­mia.

Leerink’s Ge­of­frey Porges ac­knowl­edged the sud­den turn­around for a pro­gram he had ze­ro con­fi­dence in. He not­ed:

We pre­vi­ous­ly af­ford­ed pam­revlum­ab 0% prob­a­bil­i­ty-of-suc­cess (PoS) in our mod­el giv­en pri­or de­vel­op­ment de­lays and some dis­ap­point­ments; based on the com­pelling proof of con­cept phase II re­sults we are in­creas­ing that to 35% PoS, which con­tributes $392mm in world­wide sales in 2022E grow­ing to $892mm to 2025E (cur­rent IPF drugs Ofev and Es­bri­et did com­bined sales of ~$1.5bn in 2016 af­ter on­ly two years on the US mar­ket).

“We are very en­cour­aged by the topline IPF Phase 2 clin­i­cal study re­sults that we an­nounced to­day, in which pam­revlum­ab-treat­ed pa­tients had a sig­nif­i­cant­ly low­er rate of de­cline in lung func­tion, as com­pared to the place­bo-treat­ed pa­tients. In ad­di­tion, pam­revlum­ab con­tin­ued to be well tol­er­at­ed as a monother­a­py in this IPF study, and was well tol­er­at­ed in com­bi­na­tion with pir­fenidone and nintedanib,” said Thomas B. Neff, Fi­bro­Gen’s CEO. “We be­lieve that the promis­ing out­comes of these stud­ies en­able us to ad­vance pam­revlum­ab in­to Phase III clin­i­cal de­vel­op­ment.”

Ugur Sahin, BioNTech CEO (Bernd von Jutrczenka/dpa via AP Images)

BioN­Tech is spear­head­ing an mR­NA vac­cine de­vel­op­ment pro­gram for malar­ia, with a tech trans­fer planned for Africa

Flush with the success of its mRNA Covid-19 vaccine, BioNTech is now gearing up for one of the biggest challenges in vaccine development — which comes without potential profit.

The German mRNA pioneer says it plans to work on a jab for malaria, then transfer the tech to the African continent, where it will work with partners on developing the manufacturing ops needed to make this and other vaccines.

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How one start­up fore­told the neu­ro­science re­nais­sance af­ter '50 years of shit­show'

In the past couple of years, something curious has happened: Pharma and VC dollars started gushing into neuroscience research.

Biogen’s controversial new Alzheimer’s drug Aduhelm has been approved on the basis of removing amyloid plaque from the brain, but the new neuro-focused pharma and biotechs have much loftier aims. Significantly curbing or even curing the most notorious disorders would prove the Holy Grail for a complex system that has tied the world’s best drug developers in knots for decades.

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Why is On­col­o­gy Drug De­vel­op­ment Re­search Late to the Dig­i­tal Bio­mark­ers Game?

During the recent Annual ASCO Meeting, thousands of cancer researchers and clinicians from across the globe joined together virtually to present and discuss the latest findings and breakthroughs in cancer research and care. There were more than 5000+ scientific abstracts presented during this event, yet only a handful involved the use of motion-tracking wearables to collect digital measures relating to activity, sleep, mobility, functional status, and/or quality of life. Although these results were a bit disappointing, they should come as no surprise to those of us in the wearable technology field.

Art Levinson (Calico)

Google-backed Cal­i­co dou­bles down on an­ti-ag­ing R&D pact with Ab­b­Vie as part­ners ante up $1B, start to de­tail drug tar­gets

Seven years after striking up a major R&D alliance, AbbVie and Google-backed anti-aging specialist Calico are doubling down on their work with a joint, $1 billion commitment to continuing their work together. And they’re also beginning to offer some details on where this project is taking them in the clinic.

According to their statement, each of the two players is putting up $500 million more to keep the labs humming.

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Bob Bradway, Amgen CEO (Scott Eisen/Bloomberg via Getty Images)

Am­gen bel­lies back up to the M&A ta­ble for an­oth­er biotech buy­out, this time with a $2.5B deal for an an­ti­body play­er fo­cused on PS­MA

Five months after Amgen CEO Bob Bradway stepped up to the M&A table and acquired Five Prime for $1.9 billion, following up with the smaller Rodeo acquisition, he’s gone back in for another biotech buyout.

This time around, Amgen is paying $900 million cash while committing up to $1.6 billion in milestones to bag the privately held Teneobio, an antibody drug developer that has expertise in developing new bispecifics and multispecifics. In addition, Amgen cited Teneobio’s “T-cell engager platform, which expands on Amgen’s existing leadership position in bispecific T-cell engagers by providing a differentiated, but complementary, approach to Amgen’s current BiTE platform.”

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Eye­ing quick ap­proval, Ab­b­Vie of­fers a close-up on their pres­by­opia drug da­ta

AbbVie picked up some bonus points earlier this year as one of its pipeline adds from the $63 billion Allergan buyout hit its top-line marks. And now the researchers have produced the detailed data on the case they are making with regulators, with an eye on a major new market and a hoped-for approval before New Year’s.

AGN-190584 is aiming to be the first easy-on eyedrop for presbyopia, a common ailment for large numbers of people who find it harder and harder to read things like a watch or cell phone close up. Anyone who’s held a book out at arm’s length in order to read it will be very familiar with the condition, if not the exact diagnosis.

Ryan Watts, Denali CEO

De­nali slips as a snap­shot of ear­ly da­ta rais­es some trou­bling ques­tions on its pi­o­neer­ing blood-brain bar­ri­er neu­ro work

Denali Therapeutics had drummed up considerable hype for their blood-brain barrier technology since launching over six years ago, hype that’s only intensified in the last 14 months following the publications of a pair of papers last spring and proof of concept data earlier this year. On Sunday, the South San Francisco-based biotech gave the biopharma world the next look at in-human data for its lead candidate in Hunter syndrome.

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UP­DAT­ED: Pan­el of neu­ro­science ex­perts lays out the com­pli­ca­tions with us­ing Bio­gen's new Alzheimer's drug

Treatment of early Alzheimer’s patients with Biogen’s new drug Aduhelm should closely resemble how the drug was studied in its pivotal clinical trials, according to new recommendations from a panel of neuroscience experts led by UNLV’s Jeffrey Cummings.

“Those considering aducanumab therapy should understand that the expected benefit is slowing of cognitive and functional decline; improvement of the current clinical state is not anticipated,” they wrote Tuesday in The Journal of Prevention of Alzheimer’s Disease, noting that some of their recommendations are more specific or more restrictive than the information provided in the FDA’s prescribing information.

Christophe Weber, Takeda CEO (Kyodo via AP Images)

Take­da flesh­es out CNS pact with pep­tide drug­mak­er, set­ting aside $3.5B in fu­ture mile­stones

One of a suite of drugmakers looking to reinvest in the neuroscience space, Takeda has been aggressive in signing on new partners to help build up its pipeline in that space. But sometimes the best partner is the one you already have.

Takeda will set aside $3.5 billion in future milestones and an undisclosed upfront payment to build out its drug discovery deal with Japanese peptide conjugate maker PeptiDream, adding neurodegeneration to the partnership’s list of CNS targets, the companies said Tuesday.

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