Conference Reports
10th Anniversary C21 BioVentures
Napa, California, 20th - 22nd May 2008
This year C21 BioVentures returned to the site of its inaugural meeting in Napa, California, to celebrate its tenth birthday. Amidst the rolling hills and vineyards of the San Franciscan wine country, the meeting once again provided an ideal opportunity for emerging life science companies, larger pharmaceutical companies and venture capitalists from the Bay Area and beyond to raise capital, partner and network.
Over 450 attendees
from 315 companies
were welcomed for
two days of leadership
sessions and
company presentations
by Robert Lee
Kilpatrick, a partner of
the meeting's hosts
Technology Vision
Group and Matt Gardner,
CEO of co-hosts
BayBio. Kelly Slone,
Director of the Medical
Industry Group,
extended the welcome and provided some context for the
deal-making and financing that was to follow with the fact
that 30% of all venture capital investment is in the life sciences
business.
One of the first of 66 private companies to present this year was Falco Biotherapeutics. Formed through the recent merger of Farallone Therapeuctics and Lactrys Biopharmaceuticals, this transatlantic start-up company has offices in both the Netherlands and California. CEO Dr Michel Bergh gave an insight into Falco's work on a series of novel small protein therapeutics called 'engineered loop-containing affinity molecules' or ElCams. Based on human proteins, ElCams contain binding regions similar to monoclonal antibodies and have the potential to bind and neutralize bacterial toxins and inflammatory cytokines. The company plans to utilise geneticallymodified Lactobacillus, administered orally to present cell surface- bound ElCams locally and at high concentrations in the GI tract. Initially targeting two indications with this approach, Clostridium difficile-associated diarrhoea and inflammatory bowel disease, Falco intends to partner for co-development and co-commercialization following Phase I/IIa trials.
In the area of osteoporosis Aursos announced worldwide partnering opportunities for its lead compound, black bear parathyroid hormone (BB-PTH (1-34)). New to Pharmaprojects, Aursos is a young biotech company based in Michigan which aims to benefit from the evolutionary advantages that allow black bears to hibernate for up to 6 months without loss of bone density. BB-PTH (1-34) is currently in in vivo testing and slated for an IND filing in 2010.
The afternoon continued with further company presentations, private tabletop meetings and informative panel sessions. Wednesday's proceedings came to a conclusion with delegates visiting the Jacuzzi Family Vineyards for dinner. There was a relaxed and friendly atmosphere as attendees mingled around the elegant Grand Piazza, indulged in wine and olive oil tasting and took in the stunning views of the Sonoma Valley.
Day two saw Verva Pharmaceuticals showcase its diabetes and obesity-focused pipeline. Since its formation in late 2007, Verva has chosen to keep a relatively low profile and took advantage of C21 BioVentures as the perfect place to introduce itself to the broader market. It announced that it is seeking partners worldwide for all its compounds. This includes VVP-808, a reprofiled glaucoma therapeutic with an alternative mechanism of action in the treatment of Type II diabetes. Having shown promise in murine models of diabetes, Verva plans to take VVP-808 into a six month Phase IIa trial later this year. Also in the pipeline and with a recently filed IND is a fat formation inhibitor under development for obesity.
Following lunch, Californian company Asphelia provided a snapshot of its pipeline, which is based largely on in-licensing products for the treatment of inflammatory bowel diseases. ASP-1002, obtained through a sublicence from Ovamed, is a drinkable preparation of eggs of the porcine whipworm, Trichuris suis. Asphelia believes that the eggs trigger an immune response rebalancing the immune system and positively impacting inflammatory diseases. Asphelia disclosed plans for a Phase IIa trial for Crohn's disease in Australia within the next couple of months. ASP-2002, licensed from Mitsubishi Pharma, is an oral integrin antagonist that has already been evaluated in Phase I trials. The company has been granted an IND and intends to initiate a Phase II ascending-dose trial in patients with ulcerative colitis before the end of the year. Also presented was ASP-1001, a topical formulation of an iodinated contrast medium, for the treatment of allergic rhinitis. Asphelia's main goals for C21 were to secure investment partnerships and regional development and marketing agreements.
Closing drinks on Thursday afternoon afforded attendees the chance to conduct some last minute networking and socializing as well as reflecting on two highly stimulating and successful days of partnering and deal making. With over 40% growth on last year and 932 tabletop meetings scheduled between participants, there can be no question that C21 Bio- Ventures celebrated its tenth birthday in fine style.
Paddy Newton
Pharmaprojects Analyst
