Months after massive Ipsen deal, BAKX Therapeutics nets more cash for its 'Thelma and Louise' approach to cancer cell death
18 Nov 2021
Small molecular drugCollaborate
BAKX Therapeutics emerged from stealth in a big way back in July, striking an
$852 million deal
with Ipsen for its lead cancer candidate, a small molecule designed to activate the body’s natural process for programmed cell death. And Ipsen’s putting a bit more cash in the company’s coffers to see that program into the clinic.
CEO Sree Kant unveiled a $25 million Series A round on Thursday, led by AB Magnitude Ventures Group with a hand from Ipsen and Sherpa Healthcare Partners. The funds will be used to advance the company’s BAKX activator program, which traces back to pioneering work around apoptosis by the Dana-Farber Cancer InstituteCancer Institute’s Loren Walensky and Albert Einstein College of Medicine’s Evripidis Gavathiotis.
Apoptosis is a form of programmed cell death used by the body to get rid of unneeded or abnormal cells. But some cancer cells are able to evade this mechanism, multiplying out of control. Companies like BAKX are looking to restore that barrier, inducing cancer cell death while sparing healthy cells.
Most other experimental therapies go after pro-survival proteins called Bcl-2, Bcl-xl and Mcl-1. This strategy, to “inhibit the inhibitor,” has been effective in certain types of leukemia, with one drug, AbbVie and Genentech’s Venclexta, securing approval back in 2016. But as is often the case with cancer therapies, the development of resistance poses a challenge.
Instead, BAKX is targeting pro-apoptotic proteins, such as BAK and BAX, which are downstream of Bcl-2, Bcl-xl and Mcl-1. By directly activating these proteins, scientists believe they can drive apoptosis and destroy tumor cells.
Kant compared the approach to Thelma and Louise at the edge of the cliff. You could drive the cancer cell off the cliff in one of two ways: You can let off the brakes, or press the accelerator. While pro-survival protein inhibitors take the brakes off, BAKX is pressing the accelerator.
The biotech’s lead candidate, a small molecule activator of BAX called BKX-001, is expected to enter the clinic in 18 to 24 months, Kant said conservatively.
“Hopefully we can do it much, much earlier,” he added.
Ipsen put down $14.5 million upfront and $837.5 million in biobucks to collaborate on the candidate back in July. While the partners are hoping to go after leukemia, lymphoma and solid tumors, Kant says they’ll likely focus on hematology first. BAKX also has two discovery programs for undisclosed targets up its sleeve.
“I wasn’t looking at science which would be a good story I can sell to the investors,” Kant said. “The only thing I’m thinking of is science that I can make a drug with. So if my daughter asks me what do you do for a living, I can tell her I make drugs.”
Organizations
Indications
Drugs
Chat with Hiro
Hot reports
Get started for free today!
Accelerate Strategic R&D decision making with Synapse, PatSnap’s AI-powered Connected Innovation Intelligence Platform Built for Life Sciences Professionals.
Start your data trial now!
Synapse data is also accessible to external entities via APIs or data packages. Empower better decisions with the latest in pharmaceutical intelligence.