Evotec DNA Damage Response Spin-Out Aims For First IND-Ready Drug In 2022
Executive Summary
Evotec’s chief science officer tells Scrip the German biotech is putting its cancer therapeutic program focused on DNA damage response into a new spin-off that aims to have an IND-ready drug in 2022.
Evotec SE has spun off its DNA damage response (DDR) portfolio into a new company called Breakpoint Therapeutics whose mission is to develop first-in-class drugs that kill cancer cells by sabotaging their DNA repair machinery. It aims to get the first of those therapies into human clinical trials by 2022, according to the German biotech’s chief science officer.
The spin-off was financed by an early-stage funding round of €30m covered by a consortium comprising life sciences-focused investment firm Medicxi, Taiho Pharmaceutical Co. Ltd.'s venture capital arm Taiho Ventures LLC, and Evotec.
Evotec’s chief science officer Cord Dohrmann told Scrip that Breakpoint Therapeutics would initially focus on advancing three drug discovery programs initiated at Evotec that aim at different cancers.
Breakpoint Therapeutics now owns these assets and Evotec holds just under 50% of the spin-off’s equity.
“Evotec has put together a shortlist of programs, some of which are more advanced than others. These have been placed in Breakpoint Therapeutics and will be progressed by dedicated teams that will take care of the preclinical development as well as the early-stage clinical development,” he explained, declining to identify either the assets or targets.
“All the decision-making around these assets will now be done within Breakpoint Therapeutics,” Dohrmann added.
The goal of the spin-off company is to speed up early projects through discovery and preclinical development.
“We expect to deliver the first IND-ready drug in 2022,” Dohrmann added.
DNA damage repair drugs have already shown success. One example is AstraZeneca PLC and Merck & Co. Inc.'s PARP inhibitor Lynparza (olaparib), which is on its way to becoming a blockbuster.
“DNA damage repair is a very exciting mechanism that promises to become just as exciting as immune-oncology,” Dohrmann said.
“The assets that Breakpoint Therapeutics has been given are still in discovery stages but, based on our experience in the field and the progress we have made in the past we are certain we can achieve those stated timelines,” the Evotec CSO added.
Creation of Breakpoint Therapeutics reflects Evotec’s drug discovery approach.
That strategy is two-pronged: Evotec uses its so-called 'Execute' segment allying with external pharma partners which in turn supports reinvestment into the company’s internal pipeline within its 'Innovate' segment.
“With Evotec Innovate, we invest in proprietary drug discovery in key areas with the goal being to bring the assets to key value inflection points, usually when they are still at preclinical stages, where we then position them to form strategic pharma partnerships or for spin-outs.
“Breakpoint Therapeutics is a prime example of this, where we put in the assets and contribute to the financing while still holding a very significant stake in the new entity,” Dohrmann said.