BioCentury's websites will be down for upgrades starting at 9 p.m. PDT on Monday, August 26. We expect the downtime to last no more than 6 hours, and we apologize for any inconvenience.

12:00 AM
 | 
Jan 05, 2015
 |  BioCentury  |  Product Development

BETting early

Why Index-led syndicate favored quicker exit for cancer play Oncoethix

Index Ventures-backed oncology play Oncoethix S.A. traded potentially larger returns for a faster clinical program for the company's primary asset when the Phase II program became too big for the small biotech to handle.

On Dec. 18, Merck & Co. Inc. agreed to acquire the Swiss company for $110 million up front. Oncoethix's shareholders are eligible for up to $265 million in clinical and regulatory milestones.

The driver of the takeout was OTX015, a synthetic small molecule inhibitor of BET bromodomain containing 2 (BRD2), BRD3 and BRD4. Index identified the molecule as a candidate for Oncoethix, which licensed it from Mitsubishi Tanabe Pharma Corp. outside of certain Asian countries in 2012.

Bromodomain-containing proteins are epigenetic regulators that modulate chromatin remodeling and gene transcription. They are targets in certain genetically defined cancers, and can down-regulate expression of cancer-associated proteins, such as the v-myc myelocytomatosis viral oncogene homolog (MYC; c-Myc).

Oncoethix was founded in 2007 to leverage the drug development experience of co-founder and CSO Esteban Cvitkovic and colleagues gained at Cvitkovic & Associes Consultants S.A., a CRO focused on oncology that was acquired by AAIPharma Services Corp. in 2006.

Index seeded the company and was later joined by SV Life Sciences, Edmond de...

Read the full 1081 word article

User Sign in

Trial Subscription

Get a 4-week free trial subscription to BioCentury

Article Purchase

$150 USD
More Info >