Melodia raises $275M for Alivexis’ preclinical cathepsin C inhibitor

Switzerland’s Melodia Therapeutics has secured an agreement worth $275 million to acquire Alivexis’ preclinical cathepsin C inhibitor, MDI-0151. This promising candidate is set to undergo rapid initiation of IND-enabling activities, paving the way for a phase 1/2a study targeting various refractory inflammatory diseases, such as ANCA-associated vasculitis, which are driven by excessive neutrophil activation.

Research indicates that cathepsin C, a lysosomal exo-cysteine protease, plays a key role in numerous inflammatory conditions, including bronchiectasis and ANCA-associated vasculitis. Inhibiting its activity may offer a new therapeutic approach without significantly compromising the immune function of neutrophils. This gives MDI-0151 the potential to address multiple immune and inflammatory diseases effectively.

Melodia's founding shareholder, Forty51 Ventures, an early-stage biotech investment firm based in Basel, Switzerland, launched in 2022 and shares its base of operations with Melodia. Forty51 Ventures has high expectations for MDI-0151, describing it as having "best-in-class, blockbuster potential." They are optimistic about Melodia’s capacity to develop this program for a variety of underserved immunological indications, with further announcements anticipated as progress continues.

In exchange for global development and marketing rights to MDI-0151, Alivexis will receive an upfront payment, along with development and sales milestones summing up to $275 million, though precise details of the agreement were not disclosed. Additionally, Alivexis will earn royalties on net sales if MDI-0151 reaches the market.

Alivexis CEO S. Roy Kimura, Ph.D., heralded this agreement as a significant milestone, underscoring the validation it provides for their drug discovery R&D team, platform, and proprietary pipeline. Kimura views this as the first of many anticipated licensing and collaboration agreements stemming from their portfolio of IND-ready candidate molecules and their innovative discovery platform.

Alivexis, formerly known as Modulus Discovery until its rebranding in March, recently entered into a collaboration with Japanese pharmaceutical firm Astellas. This partnership aims to identify new small molecule compounds that can regulate a novel drug target molecule selected by Astellas.

This deal marks a strategic move for both Melodia and Alivexis, promising advancements in the treatment of inflammatory diseases through innovative drug discovery and development. With MDI-0151’s potential to address significant unmet medical needs, the collaboration could lead to impactful therapies for patients suffering from these challenging conditions.