Ex-Seagen CEO returns to helm oncology startup post-Pfizer deal

The former head of the cancer drug company Seagen has taken on a role at a new oncology research startup called Ottimo Pharma. The launch of Ottimo Pharma was recently announced with David Epstein stepping in as both chairman and CEO. The company has received support from the U.K. venture firm Medicxi. Ottimo Pharma is focused on developing cancer treatments that inhibit two molecular pathways, PD-1 and VEGF, which are crucial in tumor growth and immune system evasion. The company plans to seek regulatory approval for its first clinical trial next year.

Although Ottimo Pharma has not disclosed its funding details or specified the types of tumors it will target, the involvement of Epstein is a significant indicator of the industry’s interest in potential advancements in cancer immunotherapy. Drugs targeting immune checkpoints like PD-1 have revolutionized cancer treatment since their introduction over a decade ago. These treatments, such as Merck & Co.'s Keytruda and Bristol Myers Squibb's Opdivo, enhance the immune system's ability to combat tumors, significantly extending the lives of patients with advanced cancers. However, a substantial number of patients do not experience long-lasting benefits from these treatments, prompting drug developers to seek combinations that could enhance the efficacy of immunotherapy.

The search for effective combinations has seen varied outcomes. While numerous drugs tested in combination with immunotherapies have failed to yield superior results compared to immunotherapies alone, a novel approach focuses on a single therapy that blocks both PD-1 and VEGF. This year, a drug developed by China-based Akeso and co-developed with biotechnology firm Summit Therapeutics showed significantly better results than Keytruda in a late-stage lung cancer trial. Although this trial was conducted exclusively in China and may not lead to U.S. approval, it has generated significant interest in similar treatments.

Several companies are developing drugs in this category, including BioNTech, Instil Bio, and other startups. Ottimo Pharma’s candidate, a bi-functional antibody named jankistomig, targets PD-1 and the protein receptor VEGFR2. The company believes that focusing on this specific receptor could reduce the side effects typically associated with VEGF inhibition, such as hypertension and proteinuria.

Epstein expressed confidence in the potential of Ottimo Pharma's new medicine, describing it as exquisitely designed with the possibility of providing substantial benefits to patients with various solid tumors. He looks forward to expanding the team and fulfilling the company’s promise to patients. Epstein’s previous experience includes a brief tenure as CEO of Seagen, which Pfizer acquired for $43 billion last year. Before that, he held executive roles at Novartis for over two decades and spent five years advising and building startups at Flagship Pioneering.

Joining Epstein at Ottimo Pharma is Mehdi Shahidi, former Chief Medical Officer at Boehringer Ingelheim, who will serve as head of development and CMO. James Sabry, a veteran dealmaking executive at Roche who retired earlier this year, has been appointed as vice chairman of Ottimo. Sabry remarked on the potential of Ottimo's drug to transform cancer immunotherapy, indicating strong optimism about the company's future contributions to cancer treatment.