Nex­tech leads a $56M round for the Rev­o­lu­tion's move in­to the clin­ic

Third Rock start­up Rev­o­lu­tion Med­i­cines is open­ing a new chap­ter in its his­to­ry to­day with a $56 mil­lion ven­ture round aimed at mov­ing its first ex­per­i­men­tal ther­a­py in­to the clin­ic.

Mark Gold­smith

The Red­wood City, CA-based biotech launched three years ago with a $45 mil­lion A round de­signed to get them start­ed on build­ing a plat­form tech around a strat­e­gy aimed at ex­ploit­ing “na­ture’s se­lec­tion of mol­e­cules to bind to tar­gets that couldn’t be bound to syn­thet­i­cal­ly,” as CEO Mark Gold­smith puts it.

An ini­tial fo­cus on an an­ti-fun­gal drug, though, has now shift­ed to­ward on­col­o­gy, where Rev­o­lu­tion will now push an SHP2 pro­gram — fo­cused on their work re­lat­ed to pro­tein ty­ro­sine phos­phatase (PTP) in­hibitors — in­to the clin­ic lat­er in the year.

“We end­ed up con­clud­ing that while an an­ti-fun­gal was in­ter­est­ing, a sin­gle-tar­get strat­e­gy with in­cre­men­tal ben­e­fit to pa­tients with fun­gal dis­ease, there were no legs for deep en­gage­ment,” says the CEO.

Rather than stay­ing thin with mul­ti­ple tar­gets, he adds, they’re go­ing deep in­to one with a pipeline of can­cer pro­grams.

Gold­smith isn’t of­fer­ing any time­lines right now, but he is hap­py with how far the 60-mem­ber team has come since 2015, count­ing the deep­en­ing R&D fo­cus on can­cer as a re­al win for the com­pa­ny. And they’ve been work­ing on a monother­a­py ap­proach that has been aug­ment­ed with a com­bi­na­tion strat­e­gy us­ing sin­gle-agent add-ons. 

Rev­o­lu­tion has al­so been re­cruit­ing new ex­ecs for the top team.

Xi­aolin Wang

Ryan Mar­tins joined as chief fi­nan­cial of­fi­cer, sug­gest­ing some added at­ten­tion for cap­i­tal for­ma­tion that will like­ly in­clude fresh strate­giz­ing that could lead to an IPO. Xi­aolin Wang jumped in as se­nior vice pres­i­dent, clin­i­cal de­vel­op­ment and Hird­esh Up­pal joined as vice pres­i­dent, de­vel­op­ment sci­ences. Thi­lo Schroed­er, a part­ner at can­cer spe­cial­ist Nex­tech In­vest, and Bar­bara We­ber, chief ex­ec­u­tive of­fi­cer of Tan­go Ther­a­peu­tics, joined the com­pa­ny’s board of di­rec­tors.

Nex­tech In­vest, an on­col­o­gy-fo­cused in­vest­ment firm, led the round with par­tic­i­pa­tion from Cas­din Cap­i­tal, Schroder Ad­veq, The Col­umn Group, Third Rock Ven­tures and “ad­di­tion­al undis­closed in­sti­tu­tion­al in­vestors.”

A new era of treat­ment: How bio­mark­ers are chang­ing the way we think about can­cer

AJ Patel was recovering from a complicated brain surgery when his oncologist burst into the hospital room yelling, “I’ve got some really great news for you!”

For two years, Patel had been going from doctor to doctor trying to diagnose his wheezing, only to be dealt the devastating news that he had stage IV lung cancer and only six months to live. And then they found the brain tumors.

“What are you talking about?” Patel asked. He had never seen an oncologist so happy.

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Mihael Polymeropoulos, Vanda Pharmaceuticals CEO

Phar­ma com­pa­ny con­tin­ues its FDA law­suit spree, this time af­ter agency de­nies fast-track des­ig­na­tion

Vanda Pharmaceuticals is making a name for itself, at least in terms of suing the FDA.

The DC-headquartered firm on Monday filed its latest suit against the agency, with the company raising concerns over the FDA’s failure to grant a fast track designation for Vanda’s potential chronic digestive disorder drug tradipitant, which is a neurokinin 1 receptor antagonist.

Specifically, Vanda said FDA’s “essential point” in its one-page denial letter on the designation pointed to “the lack of necessary safety data,” which was “inconsistent with the criteria for … Fast Track designation.”

Mod­er­na seeks to dis­miss Al­ny­lam suit over Covid-19 vac­cine com­po­nent, claim­ing wrong venue

RNAi therapeutics juggernaut Alnylam Pharmaceuticals made a splash in March when it sued and sought money from both Pfizer and Moderna regarding their use of Alnylam’s biodegradable lipids, which Alnylam claims have been integral to the way both companies’ mRNA-based Covid-19 vaccines work.

But now, Moderna lawyers are firing back, telling the same Delaware district court that Alnylam’s claims can only proceed against the US government in the Court of Federal Claims because of the way the company’s contract is set up with the US government. The US has spent almost $10 billion on Moderna’s Covid-19 vaccine so far.

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Cracks in the fa­cade: Is phar­ma's pan­dem­ic ‘feel good fac­tor’ wan­ing?

The discordant effects of the Covid-19 pandemic on pharma reputation continues. While the overall industry still retains a respectable halo from its Covid-19 quick response and leadership, a new patient group study reveals a different story emerging in the details.

On one hand, US patient advocacy groups rated the industry higher-than-ever overall. More than two-thirds (67%) of groups gave the industry a thumbs up for 2021, a whopping 10 percentage point increase over the year before, according to the PatientView annual study, now in its 9th year.

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Michael Corbo, Pfizer CDO of inflammation & immunology

UP­DAT­ED: Plan­ning ahead for crowd­ed ul­cer­a­tive col­i­tis mar­ket, Pfiz­er spells out PhI­II da­ta on $6.7B Are­na drug

Pfizer has laid out the detailed results behind its boast that etrasimod — the S1P receptor modulator at the center of its $6.7 billion buyout of Arena Pharma — is the winner of the class, potentially leapfrogging an earlier entrant from Bristol Myers Squibb.

Pivotal data from the ELEVATE program in ulcerative colitis — which consists of two Phase III trials, one lasting 52 weeks and the other just 12 weeks — illustrate an “encouraging balance of efficacy and safety,” according to Michael Corbo, chief development officer of inflammation & immunology at Pfizer. The company is presenting the results as a late breaker at Digestive Disease Week.

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Robert Califf (Michael Brochstein/Sipa USA via AP Images)

House Re­pub­li­cans at­tack Chi­na-on­ly da­ta in FDA sub­mis­sions, seek new in­ves­ti­ga­tion in­to re­search in­spec­tions

Three Republican representatives are calling on the FDA to take a closer look at the applications including only clinical data from China.

The letter to FDA commissioner Rob Califf late last week comes as the agency recently rejected Eli Lilly’s anti-PD-1 antibody, which attempted to bring China-only data but ran into a bruising adcomm that may crush the hopes of any other companies looking to bring cheaper follow-ons based only on Chinese data.

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Amid mon­key­pox fears, biotechs spring to ac­tion; Mod­er­na’s CFO trou­ble; Cuts, cuts every­where; Craft­ing the right pro­teins; and more

Welcome back to Endpoints Weekly, your review of the week’s top biopharma headlines. Want this in your inbox every Saturday morning? Current Endpoints readers can visit their reader profile to add Endpoints Weekly. New to Endpoints? Sign up here.

It’s always a bittersweet moment saying goodbye, but as Josh Sullivan goes off to new adventures we are grateful for the way he’s built up the Endpoints Manufacturing section — which the rest of the team will now carry forward. If you’re not already, this may be a good time to sign up for your weekly dose of drug manufacturing news. Thank you for reading and wish you a restful weekend.

Co­pay coupons gone wrong, again: Pfiz­er pays al­most $300K to set­tle com­plaints in four states

Pfizer has agreed to pay $290,000 to settle allegations of questionable copay coupon practices in Arizona, Colorado, Kansas, and Vermont from 2014 to 2018.

While the company has not admitted any wrongdoing as part of the settlement, Pfizer has agreed to issue restitution checks to about 5,000 consumers.

A Pfizer spokesperson said the company has “enhanced its co-pay coupons to alleviate the concerns raised by states and agreed to a $30,000 payment to each.”

Delaware court rules against Gilead and Astel­las in years-long patent case

A judge in Delaware has ruled against Astellas Pharma and Gilead in a long-running patent case over Pfizer-onwed Hospira’s generic version of Lexiscan.

The case kicked off in 2018, after Hospira submitted an Abbreviated New Drug Application (ANDA) for approval to market a generic version of Gilead’s Lexiscan. The drug is used in myocardial perfusion imaging (MPI), a type of nuclear stress test.