Lex­i­con 3-for-3 in PhI­II for a new di­a­betes pill, rack­ing up a clean sweep un­der $1.7B Sanofi pact

Lex­i­con Phar­ma­ceu­ti­cals $LXRX is now three-for-three in its Phase III pro­gram for so­tagliflozin, set­ting up reg­u­la­to­ry ap­pli­ca­tions for this Sanofi-part­nered ther­a­py as the first pill to help Type 1 di­a­bet­ics with glycemic con­trol. And it po­si­tions the Texas biotech for its late-stage ef­fort aimed at prov­ing it can do the same for Type 2 di­a­betes.

In­ves­ti­ga­tors test­ed this add-on drug in 1,402 pa­tients with A1C lev­els be­tween 7% and 11%, with a 400 mg dose beat­ing a place­bo in push­ing a sig­nif­i­cant num­ber of pa­tients be­low the 7 mark — the mag­ic num­ber for glycemic con­trol in di­a­betes. But we’ll have to wait for a sci­en­tif­ic con­fer­ence to get the de­tails from in­Tan­dem3.

The im­por­tant point for now is that Lex­i­con ap­pears poised to pur­sue mar­ket­ing ap­proval for a nov­el drug that tar­gets both SGLT-1 and SGLT-2. SGLT-2 drugs like Jar­diance, In­vokana and Farx­i­ga have al­ready made their mark on the mar­ket, block­ing glu­cose ab­sorp­tion in the kid­neys. But this ther­a­py adds an­oth­er tar­get in the in­testi­nal tract.

This may not rev­o­lu­tion­ize ther­a­py, but in di­a­betes R&D — de­vel­op­ing drugs for a mass au­di­ence of mil­lions around the globe — every in­cre­men­tal step for­ward marks block­buster po­ten­tial.

Sanofi saw the promise and came in to bag the world­wide rights to the drug — leav­ing Lex­i­con with US co-pro­mo­tion rights — with a $300 mil­lion up­front pay­ment and $1.4 bil­lion in po­ten­tial mile­stones.

This has been a wa­ter­shed year for Lex­i­con. Just a few months ago the biotech com­plet­ed a marathon de­vel­op­ment pro­gram with an FDA ap­proval of telotri­s­tat eth­yl (which will be sold as Xer­me­lo and was for­mer­ly known as LX1032) for car­ci­noid syn­drome, which is linked with se­vere di­ar­rhea.

Lon­nel Coats

“These pos­i­tive re­sults rep­re­sent an im­por­tant mile­stone, fur­ther sup­port­ing so­tagliflozin’s dif­fer­en­ti­at­ed pro­file as a nov­el, oral an­ti-di­a­bet­ic agent with po­ten­tial to ben­e­fit peo­ple with type 1 di­a­betes,” said Lon­nel Coats, Lex­i­con’s pres­i­dent and chief ex­ec­u­tive of­fi­cer, in a pre­pared state­ment. “So­tagliflozin is the first-ever oral an­ti-di­a­bet­ic drug can­di­date to have achieved suc­cess in now three con­sec­u­tive Phase III clin­i­cal tri­als in this pop­u­la­tion.”

Aerial view of Genentech's campus in South San Francisco [Credit: Getty]

Genen­tech sub­mits a big plan to ex­pand its South San Fran­cis­co foot­print

The sign is still there, a quaint reminder of whitewashed concrete not 5 miles from Genentech’s sprawling, chrome-and-glass campus: South Francisco The Industrial City. 

The city keeps the old sign, first erected in 1923, as a tourist site and a kind of civic memento to the days it packed meat, milled lumber and burned enough steel to earn the moniker “Smokestack of the Peninsula.” But the real indication of where you are and how much has changed both in San Francisco and in the global economy since a couple researchers and investors rented out an empty warehouse 40 years ago comes in a far smaller blue sign, resembling a Rotary Club post, off the highway: South San Francisco, The Birthplace of Biotech.

Here comes the oral GLP-1 drug for di­a­betes — but No­vo Nordisk is­n't dis­clos­ing Ry­bel­sus price just yet

Novo Nordisk’s priority review voucher on oral semaglutide has paid off. The FDA approval for the GLP-1 drug hit late Friday morning, around six months after the NDA filing.

Rybelsus will be the first GLP-1 pill to enter the type 2 diabetes market — a compelling offering that analysts have pegged as a blockbuster drug with sales estimates ranging from $2 billion to $5 billion.

Ozempic, the once-weekly injectable formulation of semaglutide, brought in around $552 million (DKK 3.75 billion) in the first half of 2019.

As Nas­daq en­rolls the fi­nal batch of 2019 IPOs, how have the num­bers com­pared to past years?

IGM Biosciences’ upsized IPO haul, coming after SpringWorks’ sizable public debut, has revved up some momentum for the last rush of biotech IPOs in 2019.

With 39 new listings on the books and roughly two more months to go before winding down, Nasdaq’s head of healthcare listings Jordan Saxe sees the exchange marking 50 to 60 biopharma IPOs for the year.

“December 15 is usually the last possible day that companies will price,” he said, as companies get ready for business talks at the annual JP Morgan Healthcare Conference in January.

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Oxitec biologist releases genetically modified mosquitoes in Piracicaba, Brazil in 2016 [credit: Getty Images]

In­trex­on unit push­es back against claims its GM mos­qui­toes are mak­ing dis­ease-friend­ly mu­tants

When the hysteria of Zika transmission sprang into the American zeitgeist a few years ago, UK-based Oxitec was already field-testing its male Aedes aegypti mosquito, crafted to possess a gene engineered to obliterate its progeny long before maturation.

But when a group of independent scientists evaluated the impact of the release of these genetically-modified mosquitoes in a trial conducted by Oxitec in Brazil between 2013 and 2015, they found that some of the offspring had managed to survive — prompting them to speculate what impact the survivors could have on disease transmission and/or insecticide resistance.

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[via AP Images]

Pur­due threat­ens to walk away from set­tle­ment, asks to pay em­ploy­ees mil­lions in bonus­es

There are two updates on the lawsuit against Purdue Pharma over its role in fueling the opioid epidemic, as the Sackler family threatens to walk away from their pledge to pay out $3 billion if a bankruptcy judge does not stop outstanding state lawsuits against them. At the same time, the company has asked permission to pay millions in bonuses to select employees.

Purdue filed for chapter 11 bankruptcy this week as part of its signed resolution to over 2,000 lawsuits. The deal would see the Sackler family that owns Purdue give $3 billion from their personal wealth and the company turned into a trust committed to curbing and reversing overdoses.

David Grainger [file photo]

'Dis­con­nect the bas­tard­s' — one biotech's plan to break can­cer cell­s' uni­fied de­fens­es

Chemotherapy and radiotherapy are the current gladiators of cancer treatment, but they come with well-known limitations and side-effects. The emergence of immunotherapy — a ferocious new titan in oncologist’s toolbox — takes the brakes off the immune system to kill cancer cells with remarkable success in some cases, but the approach is not always effective. What makes certain forms of cancer so resilient? Scientists may have finally pieced together a tantalizing piece of the puzzle, and a new biotech is banking on a new approach to fill the gap.

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A fa­vorite in Alex­ion’s C-suite is leav­ing, and some mighty sur­prised an­a­lysts aren’t the least bit hap­py about it

Analysts hate to lose a biotech CFO they’ve come to trust and admire — especially if they’re being blindsided by a surprise exit.

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Scott Gottlieb, AP Images

Scott Got­tlieb is once again join­ing a team that en­joyed good times at the FDA un­der his high-en­er­gy stint at the helm

Right after jumping on Michael Milken’s FasterCures board on Monday, the newly departed FDA commissioner is back today with news about another life sciences board post that gives him a ringside chair to cheer on a lead player in the real-world evidence movement — one with very close ties to the FDA.

Aetion is reporting this morning that Gottlieb is joining their board, a group that includes Mohamad Makhzoumi, a general partner at New Enterprise Associates, where Gottlieb returned after stepping out of his role at the FDA 2 years after he started.

Gottlieb — one of the best connected execs in biopharma — knows this company well. As head of FDA he championed the use of real-world evidence to help guide drug developers and the agency in gaining greater efficiencies, which helped set up Aetion as a high-profile player in the game.

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Tower Bridge in London [Shutterstock]

#UK­BIO19: Join GSK’s Hal Bar­ron and a group of top biotech ex­ecs for our 2nd an­nu­al biotech sum­mit in Lon­don

Over the past 10 years I’ve made a point of getting to know the Golden Triangle and the special role the UK biopharma industry plays there in drug development. The concentration of world class research institutes, some of the most accomplished scientists I’ve ever seen at work and a rising tide of global investment cash leaves an impression that there’s much, much more to come as biotech hubs are birthed and nurtured.