Microbia
Based: Cambridge, MA
Founded: 1998
Why it's Fierce: Whatever else you may have to say about Microbia, you can banish any notions of marginal efforts. While most biotechs grow off of a particular technology platform or start off by targeting a particular disease, Microbia always intended to chase a number of areas and aim very, very high. In the second-largest venture capital deal of the past year, Microbia announced $75 million in new funds in its fifth round. Altogether, the biotech has raised a whopping $174 million.
Co-founder and CEO Peter Hecht emerged from the Whitehead Institute for Biomedical Research to launch the company, expanding on his research into the therapeutic qualities of yeast. A precision engineering arm has produced some early revenue to build its drug development work, which occupies the talent of about 50 of the company's 70 workers.
MD-1100 has encouraging Phase I data for safety and efficacy for constipation-predominant irritable bowel syndrome, and a pair of Phase II studies should produce data in the second half of the year. Phase III should launch in the second half of 2007. A cholesterol absorption inhibitor--MD-0727--is going into the clinic this year, a drug for asthma is in the preclinical stage along with an injectable for congestive heart failure. Microbia is pushing to be a force in a variety of drug categories.
"We think there's a real strategic advantage to being opportunistic," says Hecht. "Our criteria when we think about starting a project: Is there a molecule that has some activity in animal model? Is there significant unmet medical need? Do we see a route in the competitive landscape to a place we think we can make a difference? Creating new drugs is hard work and full of risk. The great challenge is to build a portfolio of early-stage opportunities so you can focus on winners and kill and get out of opportunities that don’t pan out."
He has a top fight team to make headway, including R&D chief Mark Currie, who came out of Sepracor and earlier had worked at Monsanto/Searle. What to look for: After the latest venture round, Microbia has a lot of flexibility in deciding how it will develop, including any timing for an IPO. Don't look for big licensing deals, says Hecht. Microbia intends to build itself into a full-fledged biopharma player, complete with marketing capability.
