Ver­sant-backed Tem­pest grabs a $70M round with plans to dri­ve a slate of I/O drugs in­to the clin­ic

The boom­ing can­cer drug R&D field can count one more play­er with some big dreams to pur­sue in im­muno-on­col­o­gy.

San Fran­cis­co-based Tem­pest Ther­a­peu­tics is mak­ing its de­but to­day af­ter land­ing a $70 mil­lion B round, fu­el­ing the work of the start­up team as­sem­bled at Ver­sant Ven­tures — which pro­vid­ed a pre­clin­i­cal pipeline that fea­tures some new con­tenders in some fast-grow­ing nich­es.

At the front of the queue is TPST‐8844, an IDO in­hibitor which will look to make a rep for it­self as In­cyte and Bris­tol-My­ers Squibb push more ad­vanced pro­grams. Then there’s TPST-1120, a PPARα block­er de­signed to in­flame the tu­mor mi­croen­vi­ron­ment and ac­ti­vates im­por­tant tu­mor‐killing im­mune cells. And they are al­so en­gaged on E‐prostanoid (EP) re­cep­tor an­tag­o­nists, look­ing to in­ter­rupt the im­muno‐sup­pres­sive ef­fects of prostaglandin.

Pep­pi Pr­a­sit

By last count at the Can­cer Re­search In­sti­tute, there were 18 IDO in­hibitors in the clin­ic. To­day’s an­nounce­ment brings the tal­ly to at least 19. But the folks be­hind Tem­pest be­lieve that Pep­pi Pr­a­sit’s dis­cov­ery group at Ver­sant’s In­cep­tion Sci­ences has as­sem­bled a first-class on­col­o­gy pipeline that can still make a splash in crowd­ed fields.

“To be com­pet­i­tive here you had to be a lot bet­ter, it had to be a su­pe­ri­or mol­e­cule,” says Brad Bol­zon, the man­ag­ing di­rec­tor at Ver­sant. “We wouldn’t have brought for­ward a pro­gram un­less it could re­al­ly com­pete.”

As for the IDO drug, he says: “We feel pret­ty con­fi­dent that this is go­ing to be a game-chang­ing as­set.”

Tom Duben­sky

Tem­pest turned to Tom Duben­sky — up un­til last Au­gust the chief sci­en­tif­ic of­fi­cer at Aduro Biotech— to take the wheel. Duben­sky tells me he’s known the Ver­sant team for years, oc­ca­sion­al­ly help­ing out ad­vis­ing on deals. And he sounds primed and ready to roll as the new CEO.

“I would have been a fool not to jump at the chance,” Duben­sky tells me. The field may be crowd­ed, he says, but the right IDO pro­gram can at­tract plen­ty of pos­i­tive at­ten­tion.

“For those com­pa­nies with­out an IDO,” he says, “there will be a re­al land rush to­ward IDO in­hibitors.”

Duben­sky al­so counts him­self as a big fan of Pr­a­sit’s work at In­cep­tion. “It’s a col­lec­tion of med­i­c­i­nal chemists,” he says, “and they know how to de­vel­op small mol­e­cules.”

The syn­di­cate Ver­sant Ven­tures as­sem­bled in­cludes some big play­ers out of Asia, an in­creas­ing­ly com­mon fea­ture in US rounds — par­tic­u­lar­ly in San Fran­cis­co. The round in­volved F‐Prime Cap­i­tal and Quan Cap­i­tal, with ad­di­tion­al funds com­ing from Lil­ly Asia Ven­tures, Fore­site Cap­i­tal and Eight Roads Ven­tures.

So Covid-19 leader BioN­Tech has a can­cer vac­cine in de­vel­op­ment? Yes, and Re­gen­eron just jumped in for the PhII com­bo study

Before the coronavirus global emergency stole the R&D show in biopharma, the leaders in the race to develop new mRNA therapies had a big interest in determining if their tech could be used to create an effective cancer vaccine after all the first-gen tries had failed to impress. So perhaps it’s not surprising that an early cut of the data at frontrunner BioNTech went largely unnoticed.

Unless you were at Regeneron.

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Sev­en plucky di­ag­nos­tics com­pa­nies win a $249M round of con­tracts af­ter sur­viv­ing NI­H's Covid-19 'Shark Tank' com­pe­ti­tion

As US Covid-19 deaths creep past 150,000 and officials stress the importance of contact tracing, the NIH’s Rapid Acceleration of Diagnostics (RADx) program has inked contracts totaling $248.7 million to expand testing capabilities.

The seven contracts, which were chosen “Shark Tank”-style from a pool of 100 proposals, are part of an effort to bump daily testing capacity to 2% of the country’s population by late summer or fall. That would be about 6 million people per day, compared to the current 520,000 to 823,000 tests being administered daily.

Covid-19 roundup: Eli Lil­ly retro­fits RVs for first-of-its-kind an­ti­body tri­al with NIH; Am­gen, Ab­b­Vie, Take­da team on a drug

Eli Lilly and the NIH are about to start a first-of-its-kind trial that researchers and developers have talked about for months as a way of providing temporary immunity to the most at-risk populations.

Lilly announced this morning that it will start a 2,400-person trial with the National Institute for Allergy and Infectious Diseases to test whether its experimental Covid-19 neutralizing antibody can prevent people in nursing homes and assisted living facilities from developing the disease. The idea, known as passive immunity, is that rather than waiting on a vaccine to induce people to develop antibodies, doctors can give them lab-grown antibodies. Ideally, those antibodies will either attack the new SARS-CoV-2 infection, if the patient has recently been exposed, or persist in the blood for several weeks and prevent infection or disease for that period.

Im­mu­nic's lead MS drug hits pri­ma­ry and key sec­ondary end­points in PhII, but ques­tions re­main

Just a week after its lead program began enrolling patients in a study to treat Covid-19, Immunic Therapeutics is making more waves.

This time, the biotech is providing a glimpse at topline data from a Phase II trial studying the efficacy of vidofludimus calcium, or IMU-838, in relapsing-remitting multiple sclerosis patients. Taken orally, the candidate met its primary endpoint in reducing the cumulative number of combined unique active MRI lesions after 24 weeks for a 45 mg dose compared to a placebo, as well as a key secondary endpoint in such reductions for the 30 mg dose.

FDA hands Mor­phoSys and In­cyte a quick OK on their po­ten­tial block­buster CAR-T al­ter­na­tive

Nearly three years after okaying the CAR-Ts Yescarta and Kymriah, the FDA has approved a new CD19 therapy.

MorphoSys’ Monjuvi, or tafasitamab-cxix, was cleared Friday for use in refractory diffuse large B-cell lymphoma (DBLCL). The approval sets up both MorphoSys and their commercial partner Incyte to compete with Gilead and Novartis in the ultra-competitive indication, where similar trial results and far easier delivery could allow them to cut a fair share of the market.

Frank Zhang (AP Images)

CAR-T fil­ing in sight, Frank Zhang grabs full con­trol of J&J-part­nered Leg­end Biotech, steps down from Gen­Script

Two months after Yuan Xu steered Legend Biotech to a $424 million public debut on the Nasdaq, founder and chairman Frank Zhang is grabbing the reins as CEO.

In conjunction with the move, Zhang is also stepping down from the helm of GenScript — a position he’s held for 18 years. GenScript, a Hong Kong-listed CRO, hatched Legend as a subsidiary in 2015 before spinning it out, and remains a majority shareholder.

Tony Coles, Cerevel Therapeutics CEO

Adding $445M, Tony Coles and his big Pfiz­er neu­ro spin­out hitch a ride to Wall Street on Per­cep­tive’s SPAC

Two years ago, after Pfizer abruptly shut down its entire neuroscience division, Bain Capital bet $350 million that those assets were still worth something and packaged them into a new biotech: Cerevel Therapeutics. A year later, they got seasoned executive Tony Coles, who had recently jumped back into the C-suite of another neuroscience startup, to run the company.

Now Coles is steering Cerevel public, in what he says is the largest ever transaction of its kind. Cerevel has agreed to merge with Perceptive Advisors’ specialty acquisition company ARYA II. Between the roughly $125 million Perceptive raised through ARYA and an additional investment of $320 million Bain Capital, Perceptive and — yes, really — Pfizer, among others, Cerevel will now move forward with an added $445 million in its coffers.

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Elizabeth Nabel speaks at a news conference, Oct. 7, 2019 (Elise Amendola/AP Images)

Brigham and Wom­en's pres­i­dent Eliz­a­beth Nabel fol­lows Mon­cef Slaoui off Mod­er­na's board

Amid recent scrutiny on how Moderna’s top executives have been cashing out their increasingly valuable shares, the biotech is parting ways with a board member who’s also heading a hospital where its Covid-19 vaccine is being tested.

Elizabeth Nabel — the president of Brigham and Women’s Hospital — has followed in Moncef Slaoui’s footsteps in resigning from Moderna’s board of directors. She took the role in 2015, two years before the Operation Warp Speed leader did; and as with Slaoui and MIT professor Robert Langer, her term was due to expire in 2021.

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Roche de­clares a PhI­II fail­ure for Covid-19 as the IL-6 re­pur­pos­ing the­o­ry bites the dust

Another big IL-6 drug has failed to move the needle for Covid-19 patients, leaving that particular field of repurposed drug R&D on the ropes for the pandemic.

This morning it was Roche’s turn to outline a Phase III failure for Actemra, adding compelling data that have now all but extinguished the theory that an IL-6 drug could significantly help the most severely afflicted patients. That comes just weeks after Regeneron and Sanofi hit the red light on their trial for Kevzara after getting back-to-back readouts that made Roche’s trial a long shot at best.

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