Life Science Today 082 - Announcements, Novartis + Gyroscope, Leo, Biogen
Introduction
Welcome to Life Science Today, your source for stories, insights, and trends across the life science industry. I’m your host, Dr. Noah Goodson. This week, we’ve got a new name, gene therapy buyout, a lion of an approval, and an in-escapable spotlight.
Disclaimer
The views expressed on Life Science Today are those of the host and guests. They do not necessarily reflect the opinions of any organizations with which they are affiliated.
Announcement
When I started my journey into the life science industry, there were so few helpful resources. It seemed like everyone was either an insider with secret knowledge they couldn’t share or out to sell something. I tried reading the news to understand what was happening, but there were so many press releases it was hard to see through the noise to what really mattered. I started this podcast because I wanted to provide a resource for people who care about the life sciences. I knew that there were complicated interactions between pharma, biotech, CROs, CMOs, and financial organizations, but the trends weren’t always clear. At the time, I felt like I was just focusing on these Niche industries, so that’s how I named the show. Over time, I’ve developed a bit more vision for what this podcast is. I want to share stories, insights, and trends from across these industries. It turns out there are a few good news outlets, but you’ve got to read them constantly and really cross-check the stories to gain all the context. Plus, who (besides me) wants to read 100+ stories a week? I decided to rebrand and continue forward with you on this journey.
Life Science Today is not my next business venture or funnel to draw in customers. I’m doing this because I believe we can move this industry forward together and I think a weekly summary of top stories and trends with occasional interviews can help you do your job better. Whether you work in private equity, big pharma, or a scrappy biotech startup, I want you to know that when you play Life Science Today you’re getting an honest fact-based take on developments across the life science industry.
Going forward I will keep the same format. I’ll keep mispronouncing the names of companies and diseases. I’ll keep telling you when I’m wrong. And every week you’ll get 3-5 stories in less than 10 minutes with a dash of perspective to keep you up to speed on what I think matters. I’ll also have occasional bonus interviews. To do all this in parallel with my work/life schedule, I’ll be moving to a Tuesday release. Thanks for being here. Thanks for making this a top Life Science Podcast. Thanks for listening.
Novartis Retains Retinal Focus
Novartis has announced the $1.5B acquisition of Gyroscope Therapeutics. Back in March 2021, we noted that Gyroscope raised $148M in a series C to advance their lead retinal gene therapy candidate GT005 through phase II clinical trials. GT005 is a subretinal injected AAV gene therapy. What you may not recall from Episode 041 is that they also patented a specialized delivery system classified as a medical device named Orbit. It’s basically a flexible cannula that can slide under the retina to reach the macula for targeted delivery. Not only is this a cool piece of equipment but it may be needed in this case since GT005 is aiming to treat dry are-related macular degeneration. For those of you who aren’t retinal nerds like me, the macular is a central region of high acuity vision in human eyes.
This is a strong sell for Gyroscope. The retinal gene-therapy space is relatively crowded, particularly around AMD with a bunch of companies in both the US and EU working on solutions. While there is regulatory precedence, at least in gene therapy terms, for what an approval could look like, it’s still a tough playing field. For a biotech, getting into the late-stage pharma pipeline for trial design and commercialization is a strong choice to face the competition. Plus $800K in cash and $700K in milestones is a robust sell.
Leo Earns End of 2021 FDA Approval
Leo Pharma obtained FDA approval for Adbry to treat atopic dermatitis. This is the first and only biologic approved for moderate-to-severe atopic dermatitis. IL-13 is a key cytokine driver of atopic dermatitis, and Adbry directly targets this inflammatory driver. This skin disease can severely impact individuals in numerous psychosocial aspects. Topical steroids have been the primary option for many, and this breakthrough could significantly improve the lives of millions. After an initial loading dose, monthly subcutaneous doses are sufficient to maintain the effect. Additionally, side effects were fairly rare and mild in most cases. While this snuck in right at the end of 2021, it should not be ignored. Expect commercial availability of Adbry in February.
Biogen in Bumping
I’m not sure if Biogen likes being in the spotlight. But there they are, and there they remain. At the end of 2021, rumors came out that Samsung BioLogics could be in talks to buy Biogen. That would likely be a $35-45B deal. Samsung came out and said the rumors are false, so who knows. If that were the only news, then Biogen would have a random $25/share stock jump and then return to baseline. But in December they’ve also cut the price of their Alzheimer’s not-a-blockbuster Aduhelm ~50% to less than $30K/year. Like all things Biogen over the last two years, it feels like forward and backward at the same time. Because, while Aduhelm is still not selling well and prices have dropped, their next in line Alzheimer’s therapy with their partner Eisai received FDA fast-track designation. Biogen has a tough route ahead. They earned a difficult approval after an arduous journey, but aren’t really reaping the benefits. They have a decent pipeline but Aduhelm was a big gamble that has yet to pay off . One way or another, 2022 will be a year of repositioning for Biogen, whether that is just branding, merging with others, or acquiring a new pipeline of potential therapies.
Closing Credits
Thanks for joining me for Life Science Today, your source for stories, insights, and trends across the life science industry. Learn more at LifeScienceTodayPodcast.com. If you like what you hear, please tell a friend. Once again, I’m Dr. Noah Goodson, I’ll see you next week.
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Story References
Novartis + Gyroscope
Leo
Biogen
Biogen 2
About the Show
Life Science Today is your source for stories, insights, and trends across the life science industry. Expect weekly highlights about new technologies, pharmaceutical mergers and acquisitions, news about the moves of venture capital and private equity, and how the stock market responds to biotech IPOs. Life Science Today also explores trends around clinical research, including the evolving patterns that determine how drugs and therapies are developed and approved. It’s news, with a dash of perspective, focused on the life science industry.