New in­vestors pool $120M to bankroll Al­lo­gene's off-the-shelf CAR-T pipeline in dri­ve to stay in the lead

It was clear from Al­lo­gene Ther­a­peu­tics’ day 1 that Arie Bellde­grun and David Chang were in no short­age of in­vestors ea­ger to back their al­lo­gene­ic CAR-T ther­a­pies: They gath­ered $300 mil­lion in short or­der from a syn­di­cate that fea­tures Pfiz­er, TPG and Vi­da Ven­tures.

The pair of Kite vets have dri­ven the point home again with a $120 mil­lion pri­vate fi­nanc­ing an­nounced Thurs­day morn­ing as they worked to fill out the full team of ex­ecs who will run the show.

David Chang

A con­sid­er­able num­ber of first-time in­vestors jumped on board: Per­cep­tive Ad­vi­sors (which led the fi­nanc­ing), Deer­field Man­age­ment, Fi­deli­ty Man­age­ment, Franklin Tem­ple­ton In­vest­ments, Jen­ni­son As­so­ci­ates, Sur­vey­or Cap­i­tal (a Citadel com­pa­ny), and “ad­di­tion­al large mu­tu­al funds.”

“We are very pleased to sig­nif­i­cant­ly ex­pand our in­vestor base with sup­port from a dis­tin­guished syn­di­cate who un­der­stand the cell ther­a­py land­scape,” said Chang, co-founder and CEO, in a state­ment. “Our goal is to main­tain our lead­er­ship in al­lo­gene­ic CAR T ther­a­py and be the first com­pa­ny to de­vel­op and com­mer­cial­ize an al­lo­gene­ic CAR T prod­uct. This fi­nanc­ing will help us ac­cel­er­ate the de­vel­op­ment of our broad port­fo­lio and in­vest in world class tech­ni­cal op­er­a­tions to make po­ten­tial­ly life­sav­ing cell ther­a­pies more read­i­ly ac­ces­si­ble to pa­tients.”

It’s a big goal that won’t come cheap. And Al­lo­gene is in for the long haul.

“While we are in a very strong fi­nan­cial po­si­tion fol­low­ing our $300 mil­lion fi­nanc­ing in April, we re­ceived much in­ter­est in Al­lo­gene from new in­vestors,” chief com­mu­ni­ca­tions of­fi­cer Chris­tine Cas­siano elab­o­rat­ed in an email. “As we look ahead, it was im­por­tant to not on­ly strength­en our cash po­si­tion, but to build re­la­tion­ships with some very high cal­iber in­vest­ment firms.”

Arie Bellde­grun

Al­lo­gene emerged overnight as a top can­di­date to com­mer­cial­ize the first off-the-shelf CAR-T ther­a­pies by grab­bing Pfiz­er’s port­fo­lio of 16 pre­clin­i­cal tar­gets as well as a part­ner­ship on UCART19, a Phase I as­set co-de­vel­oped by Cel­lec­tis. It’s cur­rent­ly based out of Pfiz­er’s old digs at South San Fran­cis­co,

In­stead of a lengthy and ex­pen­sive per­son­al­ized au­tol­o­gous ap­proach that re­quires the ex­trac­tion and reengi­neer­ing of pa­tient cells in­to a po­tent ther­a­py that has proved par­tic­u­lar­ly ef­fec­tive in blood can­cers, Al­lo­gene is look­ing to per­fect a gene edit­ing process that can de­vel­op 50 to 100 ther­a­peu­tic batch­es from a sin­gle donor. If it works, it will be cheap­er and faster than the first CAR-Ts, Yescar­ta and Kym­ri­ah.

Bellde­grun and Chang — who rose to star sta­tus af­ter run­ning and even­tu­al­ly sell­ing Kite to Gilead for $12 bil­lion — have been re­cruit­ing es­teemed ex­ecs to help car­ry out that vi­sion.

Al­i­son Moore joined as chief tech­ni­cal of­fi­cer in June fol­low­ing a ca­reer at Am­gen and Genen­tech; two months lat­er Susie Jun, for­mer­ly of Am­gen and Gilead, jumped from Ab­b­Vie-Stem­cen­trx to be­come the chief de­vel­op­ment of­fi­cer; then there’s David Tillet, SVP of qual­i­ty, who came on board days ago af­ter con­sult­ing with the biotech for some time.

Norbert Bischofberger. Kronos

Backed by some of the biggest names in biotech, Nor­bert Bischof­berg­er gets his megaround for plat­form tech out of MIT

A little over a year ago when I reported on Norbert Bischofberger’s jump from the CSO job at giant Gilead to a tiny upstart called Kronos, I noted that with his connections in biotech finance, that $18 million launch round he was starting off with could just as easily have been $100 million or more.

With his first anniversary now behind him, Bischofberger has that mega-round in the bank.

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Francesco De Rubertis

Medicxi is rolling out its biggest fund ever to back Eu­rope's top 'sci­en­tists with strange ideas'

Francesco De Rubertis built Medicxi to be the kind of biotech venture player he would have liked to have known back when he was a full time scientist.

“When I was a scientist 20 years ago I would have loved Medicxi,’ the co-founder tells me. It’s the kind of place run by and for investigators, what the Medicxi partner calls “scientists with strange ideas — a platform for the drug hunter and scientific entrepreneur. That’s what I wanted when I was a scientist.”

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Af­ter a decade, Vi­iV CSO John Pot­tage says it's time to step down — and he's hand­ing the job to long­time col­league Kim Smith

ViiV Healthcare has always been something unique in the global drug industry.

Owned by GlaxoSmithKline and Pfizer — with GSK in the lead as majority owner — it was created 10 years ago in a time of deep turmoil for the field as something independent of the pharma giants, but with access to lots of infrastructural support on demand. While R&D at the mother ship inside GSK was souring, a razor-focused ViiV provided a rare bright spot, challenging Gilead on a lucrative front in delivering new combinations that require fewer therapies with a more easily tolerated regimen.

They kept a massive number of people alive who would otherwise have been facing a death sentence. And they made money.

And throughout, John Pottage has been the chief scientific and chief medical officer.

Until now.

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On a glob­al romp, Boehringer BD team picks up its third R&D al­liance for Ju­ly — this time fo­cused on IPF with $50M up­front

Boehringer Ingelheim’s BD team is on a global deal spree. The German pharma company just wrapped its third deal in 3 weeks, going back to Korea for its latest pipeline pact — this time focused on idiopathic pulmonary fibrosis.

They’re handing over $50 million to get their hands on BBT-877, an ATX inhibitor from Korea’s Bridge Biotherapeutics that was on display at a science conference in Dallas recently. There’s not a whole lot of data to evaluate the prospects here.

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Novotech CRO Ex­pands Chi­na Team as Biotech De­mand for Clin­i­cal Tri­als In­creas­es up to 79%

An increase in demand of up to 79% for clinical trials in China has prompted Novotech the Asia-Pacific CRO to rapidly expand the China team, appointing expert local clinical executives to their Shanghai and Hong Kong offices. The company is planning to expand their team by 30% over the next quarter.

Novotech China has seen considerable demand recently which is borne out by research from GlobalData:
A global migration of clinical research is occurring from high-income countries to low and middle-income countries with emerging economies. Over the period 2017 to 2018, for example, the number of clinical trial sites opened by biotech companies in Asia-Pacific increased by 35% compared to 8% in the rest of the world, with growth as high as 79% in China.
Novotech CEO Dr John Moller said China offers the largest population in the world, rapid economic growth, and an increasing willingness by government to invest in research and development.
Novotech’s 23 years of experience working in the region means we are the ideal CRO partner for USA biotechs wanting to tap the research expertise and opportunities that China offers.
There are over 22,000 active investigators in Greater China, with about 5,000 investigators with experience on at least 3 studies (source GlobalData).

Servi­er scoots out of an­oth­er col­lab­o­ra­tion with Macro­Gen­ics, writ­ing off their $40M

Servier is walking out on a partnership with MacroGenics $MGNX — for the second time.

After the market closed on Wednesday MacroGenics put out word that Servier is severing a deal — inked close to 7 years ago — to collaborate on the development of flotetuzumab and other Dual-Affinity Re-Targeting (DART) drugs in its pipeline.

MacroGenics CEO Scott Koenig shrugged off the departure of Servier, which paid $20 million to kick off the alliance and $20 million to option flotetuzumab — putting a heavily back-ended $1 billion-plus in additional biobuck money on the table for the anti-CD123/CD3 bispecific and its companion therapies.

Den­mark's Gen­mab hits the jack­pot with $500M+ US IPO as small­er biotechs rake in a com­bined $147M

Danish drugmaker Genmab A/S is off to the races with perhaps one of the biggest biotech public listings in decades, having reaped over $500 million on the Nasdaq, as it positions itself as a bonafide player in antibody-based cancer therapies.

The company, which has long served as J&J’s $JNJ key partner on the blockbuster multiple myeloma therapy Darzalex, has asserted it has been looking to launch its own proprietary product — one it owns at least half of — by 2025.

FDA over­rides ad­comm opin­ions a fifth of the time, study finds — but why?

For drugmakers, FDA advisory panels are often an apprehended barometer of regulators’ final decisions. While the experts’ endorsement or criticism often translate directly to final outcomes, the FDA sometimes stun observers by diverging from recommendations.

A new paper out of Milbank Quarterly put a number on that trend by analyzing 376 voting meetings and subsequent actions from 2008 through 2015, confirming the general impression that regulators tend to agree with the adcomms most of the time — with discordances in only 22% of the cases.

UP­DAT­ED: With loom­ing ‘apoc­a­lypse of drug re­sis­tance,’ Mer­ck’s com­bi­na­tion an­tibi­ot­ic scores FDA ap­proval on two fronts

Merck — one of the last large biopharmaceuticals companies in the beleaguered field of antibiotic drug development — on Wednesday said the FDA had sanctioned the approval of its combination antibacterial for the treatment of complicated urinary tract and intra-abdominal infections.

To curb the rise of drug-resistant bacteria and maintain the efficacy of the therapy, Recarbrio (and other antibacterials) — the drug must be used to treat or prevent infections that are proven or strongly suspected to be caused by susceptible gram-negative bacteria, Merck $MRK said.

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