Biogen's CEO has pointed to the company's ability to take five drugs into clinical trials so far this year as evidence of its new focus on early-stage R&D.
At one point, Biogen went three years without bringing any new drugs into the clinic, but that drought is over, Biogen CEO Chris Viehbacher explained to analysts on a third-quarter earnings call on Wednesday.
“Under the leadership of [Head of Research] Jane Grogan and a partnership with [Head of Development] Priya Singhal—they have done a radical overhaul of the whole research and early development area,” Viehbacher said. “We now have six new programs expected with three [new molecular entities].”
“We've already had five INDs this year,” Viehbacher added. “Biogen in its 48 years of history has never had five INDs in a single year, and our ambition is over the next few years to have 20 programs in early-stage development.”
“This is a big shift in how we operate, because Biogen historically has looked at things on an asset-by-asset basis, and we are now really thinking about portfolios of opportunities,” the CEO pointed out.
The company's phase 1 pipeline is dominated by autoimmune disease drugs, including an IRAK4 degrader and a BTK degrader in partnership with C4 Therapeutics, as well as a long-lasting anti-CD40 monoclonal antibody.
Over the past three years, the company has been trying to expand its portfolio beyond multiple sclerosis and spinal muscular dystrophy and into immunology, nephrology and ophthalmology through the acquisitions of eye disease-focused Apellis Pharmaceuticals, immunology biotechs RayThera and HI-BIO, drug delivery company Alcyone Therapeutics and rare disease specialist Reata Pharmaceuticals.
Viehbacher told analysts that the company has “been fairly intentional about M&A over the last three years.”
The company's “sweet spot” for an acquisition are drugs somewhere between early preclinical development and phase 1b, he explained.
“I think we're really focused on the early stage,” he added. “This is the most capital-efficient time to introduce new assets to a company.”
Where Big Pharma is placing its bets is one of the hot topics being discussed at Fierce Biotech's high-impact event in London next month. Find out more information and register by clicking on the banner below:
