Un­de­terred by ex­ec ex­o­dus, Im­muno­core nabs $100M cash to co-de­vel­op pre­clin­i­cal as­set with Roche

De­spite its re­cent ex­ec­u­tive ex­o­dus, can­cer biotech Im­muno­core’s ap­petite for part­ner­ship deals re­mains re­lent­less. The Ox­ford Uni­ver­si­ty spin­out is now set to test a pre­clin­i­cal as­set in com­bi­na­tion with Roche’s $RHB­BY Tecen­triq for a hefty $100 mil­lion, build­ing on an ex­ist­ing part­ner­ship with the Swiss drug­mak­er’s Genetech unit that be­gan in 2013.

On Mon­day, the UK biotech an­nounced it will joint­ly de­vel­op with Genen­tech its pre­clin­i­cal as­set, IMC-C103C, which is de­signed to tar­get tu­mors that ex­press the pro­tein MAGE-A4 (Melanoma-As­so­ci­at­ed Anti­gen A4) — a known can­cer-as­so­ci­at­ed anti­gen ex­pressed in a wide range of ma­lig­nan­cies — for $100 mil­lion in up­front and near-term mile­stone pay­ments. Im­muno­core is no stranger to large pay­outs — the com­pa­ny raised an eye-pop­ping $320 mil­lion in its Se­ries A round of fund­ing in 2015, and has al­ready sealed part­ner­ships with As­traZeneca $AZN, Glax­o­SmithK­line $GSK, Eli Lil­ly $LLY, Roche and the Gates Foun­da­tion.

Un­der the new Roche deal, Im­muno­core is tasked with con­duct­ing the first hu­man tri­als test­ing the safe­ty and ef­fi­ca­cy of IMC-C103C as both monother­a­py and in com­bi­na­tion with Tecen­triq in stud­ies that are set to be­gin ear­ly next year in pa­tients with dif­fer­ent types of sol­id tu­mors. If and when proof-of-con­cept da­ta are es­tab­lished, Im­muno­core has the op­tion to co-de­vel­op IMC-C103C all the way to the fin­ish line, or to ful­ly li­cense the as­set to Genen­tech in re­turn for roy­al­ty and mile­stone pay­ments, the com­pa­ny said.

Eliot Forster

In Sep­tem­ber, it was re­port­ed that Im­muno­core’s chief strat­e­gy of­fi­cer Kevin Po­jasek had ex­it­ed the com­pa­ny, adding to a laun­dry list of C-suite de­par­tures that be­gan with CEO Eliot Forster — who made the de­ci­sion to leave even though he was en­gaged in try­ing to raise an­oth­er mas­sive round for the com­pa­ny. Forster’s de­par­ture was fol­lowed by a num­ber of oth­er farewells, which have all been put down to per­son­al rea­sons. How­ev­er, dis­cus­sions with sev­er­al peo­ple fa­mil­iar with the talks in­side Im­muno­core sug­gest­ed the biotech was hav­ing a hard time stick­ing with its high-end uni­corn val­u­a­tion.

Un­de­terred by the mass ex­o­dus, Roche has inked this new deal as it plots to es­tab­lish its im­munother­a­py Tecen­triq as a vi­able com­peti­tor to of­fer­ings from Mer­ck $MRK and Bris­tol-My­ers Squibb $BMY, who have be­come the de fac­to win­ners in the field.

M&A: a crit­i­cal dri­ver for sus­tain­able top-line growth in health­care

2021 saw a record $600B in healthcare M&A activity. In 2022, there is an anticipated slowdown in activity, however, M&A prospects remain strong in the medium to long-term. What are future growth drivers for the healthcare sector? Where might we see innovations that drive M&A? RBC’s Andrew Callaway, Global Head, Healthcare Investment Banking discusses with Vito Sperduto, Global Co-Head, M&A.

Abortion-rights protesters regroup and protest following Supreme Court's decision to overturn Roe v. Wade. (AP Photo/Gemunu Amarasinghe)

Fol­low­ing SCO­TUS de­ci­sion to over­turn abor­tion pro­tec­tions, AG Gar­land says states can't ban the abor­tion pill

Following the Supreme Court’s historic decision on Friday to overturn Americans’ constitutional right to an abortion after almost 50 years, Attorney General Merrick Garland sought to somewhat reassure women that states will not be able to ban the prescription drug sometimes used for abortions.

Following the decision, the New England Journal of Medicine also published an editorial strongly condemning the reversal, saying it “serves American families poorly, putting their health, safety, finances, and futures at risk.”

AstraZeneca's new Evusheld direct to consumer campaign aims to reach more immunocompromised patients.

As­traZeneca de­buts first con­sumer cam­paign for its Covid-19 pro­phy­lac­tic Evusheld — and a first for EUA drugs

AstraZeneca’s first consumer ad for Evusheld is also a first for drugs that have been granted emergency use authorizations during the pandemic.

The first DTC ad for a medicine under emergency approval, the Evusheld campaign launching this week aims to raise awareness among immunocompromised patients — and spur more use.

Evusheld nabbed emergency authorization in December, however, despite millions of immunocompromised people looking for a solution and now more widespread availability of the drug.

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Sanofi, GSK tout 72% Omi­cron ef­fi­ca­cy in PhI­II tri­al of next-gen, bi­va­lent shot — with an eye to year-end roll­out

Sometimes, being late can give you an advantage.

That’s what Sanofi and GSK are trying to say as the Big Pharma partners report positive results from a late-stage trial of their next-gen bivalent Covid-19 vaccine, which was designed to protect against both the original strain of the SARS-CoV-2 virus and the Beta variant. Specifically, against Omicron, they note, the vaccine delivered 72% efficacy in all adults and 93.2% in those previously infected.

Matt Kapusta, uniQure CEO

In trou­bled Hunt­ing­ton’s space, uniQure’s gene ther­a­py shows ear­ly promise

In randomized clinical trial data from a small number of patients, Dutch biotech uniQure shared that its gene therapy for Huntington’s disease seems to reduce the amount of the mutant protein responsible for the disease over the course of a year.

In seven patients with early-stage Huntington’s — four who got the treatment and three who got a placebo — mutant huntingtin protein levels in the cerebrospinal fluid decreased by an average of just over 50% in patients who got the gene therapy compared to around a 17% drop in patients who got the placebo after a year.

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De­spite a slow start to the year for deals, PwC pre­dicts a flur­ry of ac­tiv­i­ty com­ing up

Despite whispers of a busy year for M&A, deal activity in the pharma space is actually down 30% on a semi-annualized basis, according to PwC’s latest report on deal activity. But don’t rule out larger deals in the second half of the year, the consultants said.

PwC pharmaceutical and life sciences consulting solutions leader Glenn Hunzinger expects to see Big Pharma companies picking up earlier stage companies to try and fill pipeline gaps ahead of a slew of big patent cliffs. Though a bear market continues to maul the biotech sector, Hunzinger said recent deals indicate that pharma companies are still paying above current trading prices.

Joe Wiley, Amryt Pharma CEO

Am­ryt Phar­ma sub­mits a for­mal dis­pute res­o­lu­tion to the FDA over re­ject­ed skin dis­ease drug

The story of Amryt Pharma’s candidate for the genetic skin condition epidermolysis bullosa, or EB, will soon enter another chapter.

After the Irish drugmaker’s candidate, dubbed Oleogel-S10 and marketed as Filsuvez, was handed a CRL earlier this year, the company announced in a press release that it plans to submit a formal dispute resolution request for the company’s NDA for Oleogel-S10.

John Leonard, Intellia CEO

In­tel­li­a's CRISPR pro­gram that ed­its genes di­rect­ly in pa­tients shows dura­bil­i­ty in AT­TR amy­loi­do­sis

The first in vivo CRISPR/Cas9 gene editing program has some new durability data showing sustained reduction of a toxic protein in ATTR amyloidosis at all four dose levels in a small 15-patient study.

Intellia Therapeutics presented the much-anticipated data for its Regeneron-collaborated NTLA-2001 Friday morning, adding to the initial Phase I results it first delivered almost a year ago to the day.

Sen. Thom Tillis (R-NC) (J. Scott Applewhite/AP Images)

Phar­ma-friend­ly sen­a­tor calls on FDA for a third time to show patent pro­tec­tions should­n't be blamed for high drug prices

North Carolina Republican Sen. Thom Tillis made a name for himself in the 2020 election cycle as the darling of the pharma industry, accepting hundreds of thousands in campaign contributions, even from the likes of Pfizer CEO Albert Bourla.

Those contributions have led Tillis to attempt to re-write patent laws in pharma’s favor, a move which failed to gain steam in 2019, and request for a third time since January that the FDA should help stop “the false narrative that patent protections are to blame for high drug prices.”