Lund­beck fund backs a $50M launch round for SNIPR Bio­me, a new brand of CRISPR Cas biotech

The ear­ly-stage ven­ture arm for the Lund­beck Foun­da­tion has launched a biotech start­up that has set sail on the vast mi­cro­bio­me sea. The new com­pa­ny — SNIPR Bio­me — plans to ad­vance its CRISPR Cas tech to prune tar­get­ed bac­te­ria. And the biotech has its eye on go­ing in­to hu­mans in 2021 as it starts to tack­le a wide va­ri­ety of tar­gets that could be in­flu­enced by a tai­lored im­mune sys­tem re­sponse.

Lund­beck­fonden Emerge is lead­ing a syn­di­cate that pro­vid­ed the $50 mil­lion the biotech will use to reach for proof-of-con­cept hu­man da­ta for what they’re work­ing on. 

The big idea here is that the biotech has found a way to hi­jack a nat­ur­al de­fen­sive mech­a­nism, in­struct­ing bac­te­ria “to com­mit sui­cide by us­ing their own en­doge­nous CRISPR Cas sys­tem,” Chris­t­ian Grøn­dahl, co-founder and CEO, tells me. Grøn­dahl is a high-pro­file fig­ure in Eu­ro­pean biotech cir­cles. He ear­li­er helmed Kymab, a Eu­ro­pean an­ti­body de­vel­op­er which spe­cial­ized in a mouse plat­form tech for de­vel­op­ing new an­ti­bod­ies. 

SNIPR can tar­get spe­cif­ic bac­te­ria, says the CEO, with pre­clin­i­cal proof-of-con­cept da­ta gath­ered over the last 18 months to demon­strate how it works. 

“We have now pos­i­tive in vit­ro and in vi­vo da­ta on all the bac­te­ria we tried to erad­i­cate,” says Grøn­dahl. And they’re do­ing it with speci­fici­ty, carv­ing out a par­tic­u­lar strain while leav­ing the rest of the vast mi­cro­bio­me alone.

There are some ob­vi­ous ap­pli­ca­tions with in­fec­tions, he adds, but the com­pa­ny will be steer­ing clear of any field al­ready ad­dressed by an­tibi­otics and go af­ter “dire” con­di­tions where there are no avail­able ther­a­pies. Fol­low­ing that, he adds, there are new ap­pli­ca­tions they can go af­ter, in com­bi­na­tion ap­proach­es with im­muno-on­col­o­gy ther­a­pies or in au­toim­mune dis­eases, where re­searchers are look­ing for ways to di­al up or di­al down an im­mune re­sponse.

Lund­beck­fonden has helped seed the ef­fort, which dates back now to the sum­mer of 2017, says the CEO. The team has grown to 18, with plans to grow that con­sid­er­ably now that the A round is in place.

If all goes ac­cord­ing to plan, he adds, they’ll be in hu­mans in about 2 years. The mon­ey — siz­able in Eu­ro­pean cir­cles — should last three to three-and-a-half years.

Lund­beck­fonden Emerge was set up by the in­de­pen­dent Lund­beck Foun­da­tion to back ear­ly-stage re­search work com­ing out of the labs in Copen­hagen. The foun­da­tion owns a ma­jor­i­ty in­ter­est in Lund­beck, now run by Deb­o­rah Dun­sire, but the ven­ture work is or­ga­nized in­de­pen­dent­ly from the com­pa­ny. They joined hands with LSP and the North-East Fam­i­ly Of­fice in Copen­hagen with Mu­nich-based Welling­ton Part­ners to pro­vide the launch round.

Im­age: Chris­t­ian Grøn­dahl. LUND­BECK­FONDEN

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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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.