News
Company News: InDex Pharmaceuticals Granted Japanese Patent for Novel Treatment of Steroid-Resistant Inflammation
InDex Pharmaceuticals today announced that it has been granted a Japanese patent by the Japan Patent Office (JPO). The patent provides protection for the use of Kappaproct® and other DNA-based immunomodulatory sequences (DIMS) for the treatment of steroid-resistant inflammatory diseases, including inflammatory bowel disease, rheumatoid arthritis, psoriasis, asthma, emphysema, and chronic obstructive pulmonary disease.
The patent, entitled “Immunostimulatory Method” covers the use of a broad range of oligonucleotides for the treatment of steroid resistance in patients afflicted with inflammatory conditions. It provides an exclusivity period until at least 2026, with the possibility of up to 5 years of patent term extension after market approval. InDex Pharmaceuticals already holds patent protection for Kappaproct for the treatment of steroid-resistant inflammatory diseases in both Europe and the US.
InDex Pharmaceuticals develops DIMS compounds – synthetic oligonucleotides that function as immunomodulatory agents by targeting the Toll-like receptor 9 (TLR9). The company’s most advanced DIMS product candidate, Kappaproct, is currently in a phase III study in Europe for the treatment of chronic, active, treatment-refractory ulcerative colitis.
Company News: Legacy Healthcare Announces Breakthrough Clinical Results in Hair Re-growth
– CG210™ improves hair thickness in patients using finasteride –
Legacy Healthcare, a company developing innovative products for hair and scalp disorders with a special focus on oncology supportive care, today announced clinical results of a double-blind, placebo-controlled, long-term trial of its innovative CG210™ topical treatment in patients suffering from hair loss.
The primary endpoint of the 12-month clinical study in subjects already using finasteride 1mg as a treatment for hair loss was the increase of mean diameter of hair. Participants received topical CG210™ or topical placebo in addition to the oral finasteride 1mg they were already taking. Finasteride, a synthetic type-2 5α-reductase inhibitor, has been approved by the US FDA, among others, for the treatment of male pattern baldness (MPB). As of September 27, 2012, results from 16 volunteers, who completed a 12 month cycle, were analyzed. The mean diameter of hair of subjects receiving topical CG210 increased 36.9% more than the mean diameter of hair of subjects receiving topical placebo (p<0,0001). The study was conducted in Japan.
Company News: VAXIMM Completes Enrollment of First Oral Cancer Vaccine Trial
VAXIMM AG, a Swiss-German biotech company focusing on oral cancer vaccines, announced today that it completed enrollment in the first clinical trial of its investigational oral therapeutic cancer vaccine VXM01. The randomized, placebo-controlled, double-blind Phase I/II dose escalation study enrolled 45 patients with inoperable pancreatic cancer at the Heidelberg University Hospital (Heidelberg, Germany). In addition to standard-of-care treatment, the patients received several doses of VXM01, a therapeutic cancer vaccine targeting the tumor vasculature. The results of the first, blinded part of the study are expected in the first quarter of 2013.
The investigational therapeutic vaccine VXM01 is designed to stimulate the patients’ own immune system to destroy tumor-associated blood vessels. It is the first therapeutic cancer vaccine in clinical development that does not target the cancer cells directly. Instead, it addresses the tumor stroma, a structure essential for growth and metastasis formation of solid tumors. VXM01 is also the first investigational therapeutic cancer vaccine which is administered orally and which acts in the gut to induce an anti-tumor response of the immune system.
akampion Meets… Dr. Markus Hosang, General Partner at BioMedPartners
Markus Hosang, General Partner at BioMedPartners, has a strong pharmaceutical and VC background. He was previously Venture Partner at MPM Capital. Prior to joining MPM in 2002, he was at Roche, where he served for nearly 20 years in several senior management positions in the Pharma R&D organization.
akampion: If you could give some advice to aspiring or very junior venture capital professionals, what would it be?
Markus Hosang: There are usually two approaches to becoming a venture capital professional. First, you can join as an Associate or Analyst pretty early on if you have a strong scientific background, combined with a business degree (MBA). The second route is gaining extensive management and executive expertise in big pharma or biotech companies and subsequently joining a VC firm as a Partner. In general, I believe that operational experience in pharma or biotech companies is very important if you want to succeed in the venture capital industry. Even Associates or Analysts should bring some years of industry experience, not just a strong scientific background.
When I was at Roche, I was fortunate to be part of an innovation-driven environment and management team of the company. Since then, I have always been attracted to pioneering industry trends – but I also had the chance to learn from failures.
akampion: So what are your investment criteria if you look at healthcare companies?
Markus Hosang: Data, science and patents have to be convincing. Equally important are growth perspectives and market environment. The third point, which is crucial and often overlooked, is the executive team – what are their strengths and weaknesses? Will they be able to deliver? In the past, I have often been disappointed by executives and founders with a pure academic background. On the other hand, if executives join a small company from big pharma, they need to prove that they can do without a huge corporate infrastructure. Will they be moving fast enough? But I also have to admit that I underestimated a few teams in the past.
akampion: What is the key difference between US and European companies?
Markus Hosang: In the US, there are clearly a lot more serial entrepreneurs who are very hands-on and pragmatic. There is a „done it before“ attitude. We don´t really have a serial entrepreneurial spirit in European healthcare yet.
akampion: What has changed in the healthcare industry over the past ten years?
Markus Hosang: The endpoints in biopharmaceutical drug development have definitely changed – not just at the FDA and EMA, but also in terms of reimbursement criteria. For investors, the emphasis has shifted even more to exit strategies and value inflection points. Exits happen earlier – often times, companies are factually being „leased“ by milestone-driven payments, which allow for staged acquisitions instead of buying a company as a whole.
akampion: What is your opinion on the current financing situation in Europe?
Markus Hosang: European private equity financings have been very generous in the past, but this has changed over the last couple of years. There is currently a shortage of funds in Europe, and as a result, there is a weeding out going on, which has even started to affect good companies. However, an excellent management team will source other funds and identify financing alternatives, such as grants. A good example here is Okairos in Italy.
akampion: At what stage do you invest in a company? And why did you choose to focus your investments on the Alpine region?
Markus Hosang: Before I consider an investment, the founders should have done their homework properly and also should have made some initial investments themselves. There must be a convincing business plan, maybe they have even won a business plan competition. The seed round must have completed successfully. Start-ups in Switzerland often hire mentors or advisors with a pharma background, which is a great advantage. The Alpine region is a very fertile ground. It has a very strong pharma industry and infrastructure, there are excellent universities and research institutions, and everything is located in the vicinity, easy to reach in a few hours. The latter point is particularly important for us as very active and involved investors, as it permits us to see our companies without too much (travel) efforts and on short notice, if required.
akampion: What motivates and inspires you in your daily work?
Markus Hosang: I very much enjoy applying my professional skills to a continuously broadening scope of activities. And I am thrilled to generate value and to keep track of a quickly developing sector, and perhaps, albeit indirectly, contribute to the solution of a still unmet medical need. Last not least, I love the collaboration and interaction between various teams and boards that I am on. Therefore, transparency and fairness are extremely important in my work.