Welcome to the latest edition of our weekly EuroBiotech Report. Roche ($RHHBY) extended the R&D alliance it forged with Oryzon (BME:ORY) as part of a $521 million (€463 million) epigenetics deal, positioning the partners to continue working on lysine-specific demethylase-1 inhibitors for another 12 months. The odds of the next 12 months seeing Novimmune file for its long-anticipated IPO lengthened. Martin Ebner, the billionaire banker who owns a chunk of the company, claims to be in no hurry to take it public. Our other three top stories cover a mixed week for British biotechs. Ziarco Pharma, a biotech that emerged from Pfizer’s ($PFE) Sandwich exit, posted data from a Phase IIa trial of its atopic dermatitis drug. The data have emboldened the company to step up preparations for a Series C round and Phase IIb study. Midatech Pharma (LON:MTPH), in contrast, was left pondering whether its oral insulin has a future after it came up short in a Phase IIa trial. Such highs and lows are some way off for our third British biotech, Islexa, which began life this week to move a cell therapy for Type I diabetes toward the clinic. And more. Nick Taylor
1. Roche extends Oryzon epigenetic cancer, hematology R&D collaboration
Roche ($RHHBY) has signed up to study lysine-specific demethylase-1 (LSD1) inhibitors with Oryzon (BME:ORY) for another year. The extension follows the $521 million (€463 million) epigenetic deal Roche struck with Oryzon in 2014, which gave the Big Pharma rights to LSD1 inhibitor ORY-1001 and an opportunity to collaborate with its new partner.
2. Novimmune’s billionaire backer happy to hang fire on IPO until market improves
The long wait for Novimmune to go public is set to go on a little longer. While Novimmune’s ex-CEO Jack Barbut got the IPO chatter going himself way back in 2010, the monoclonal antibody specialist and, importantly, the billionaire banker who owns a chunk of the company are in no rush to hit go on the long-gestating plan.
3. Ziarco gears up for Series C, PhIIb to advance atopic dermatitis drug
Ziarco Pharma, a biotech birthed in Pfizer’s ($PFE) exit from Sandwich, is preparing to move its atopic dermatitis drug into Phase IIb. The commitment to advance the program, which follows the release of top-line data from a Phase IIa trial, has prompted Ziarco to begin talks about a Series C round that is expected to add new backers to the company’s A-list roster of investors.
4. Midatech mulls options after oral insulin flunks PhIIa
An oral insulin in development at Midatech Pharma (LON:MTPH) has flunked a Phase IIa clinical trial. The dosage form, a dissolving, postage stamp-sized strip designed to deliver insulin through the cheek, failed to achieve bioavailability comparable to subcutaneous administration, leaving the future of the program in doubt.
5. Islexa fires up to develop cell therapy for Type I diabetes
The Cell and Gene Therapy Catapult (CGT) has teamed up with the University of Aberdeen to found Islexa, a startup focused on hustling a cell therapy for Type I diabetes into the clinic. Islexa’s founders think the technology could dramatically increase the number of patients who can receive transplants of insulin-producing islets.