J&J-allied Contineum files for IPO to take fight to BMS, Roche and more

18 Mar 2024
www.fiercebiotech.com
Phase 2IPOAcquisitionPhase 1Clinical Result
Boundless Bio and now Contineum Therapeutics have kept the IPO market ticking over in March.
Boundless BioPO class Contineum Therapeuticsng another member. Contineum Therapeutics is the latest company to test the waters, filing paperwork to raise money for phase 2 clinical trials of its lead prospect and a Johnson & Johnson-partnered molecule.
Contineum, a biotech previously called Pipeline Therapeutics, wContineum Therapeutics phase 1b and 2 trials of its lead drug candidate in idiopathic pulmonary fibrosis (IPF) and progressive multiple sclerosis (MS). Johnson & JohnsonE-791, is designed to inhibit LPA1, a receptor that studies suggest may drive scarring in IPF and promote neuroinflammation and limit remyelination in MS.
Contineumpreclinical studies and tests Pipeline Therapeutics, Contineum believes once-daily doses of the molecule could treat IPF. The schidiopathic pulmonary fibrosis (IPF) exisprogressive multiple sclerosis (MS)lheim’s Ofev andPIPE-791 Esbriet are, respectivelLPA1aken two and three times a day.IPFMS
Other drug developers have hit on the idea of targeting LPA1 tContineumPF. Bristol Myers Squibb picked up a LPA1 candidate in IPF1 through its $325 millioPIPE-791ition of Amira PharmaIPFticals, a biBoehringer Ingelheimneum founderRochechiEsbrietntific officer Daniel Lorrain, Ph.D., worked. BMS posted phase 2 data on the LPA1 antagonist BMS-986278 last year.
Amgen acquired a phase 2 LPA1 drug, now called AMG 670, LPA1art of theIPFriBristol Myers Squibbout. AbbVie eLPA1ed the LPA1 space in 2022 by paying $255 million for DJS AnAmira Pharmaceuticalsherapeutics has also Contineumd inhibitors of the receptor.LPA1 antagonistBMS-986278
Amgenrogressive MS space LPA1ess competitive. CAMG 670m contends PIPE-7Horizon Therapeutics-penetranAbbVie receptor antLPA1ist in clinical development in the indication. ProgressiveStructure Therapeuticser nut to crack than other forms of the disease, with Contineum noting that studies of would-be rivals have generated “almost uniformly disappointing results.” But the mechanism of PIPE-791 suggests it may be able to improve outcomes by addressing chronic neuroinflammation and demyelination.
Contineum has earmarked another chunk of the aContineumd IPO haulPIPE-791hase 2 trial of PIPE-307, theLPA1 receptor antagonistby the J&J agreement, in relapsing-remitting MS. The terMS of the J&J deal require Contineum to run a phase 2 trial in the indicatiContineumlment in the study began in November.PIPE-791chronic neuroinflammation
Contineumin developing PIPE-307 in relapsing-remitting MS, a setting where effective immuPIPE-307ating treatments exist, is underpinned by evidence tharelapsing-remitting MSy be the molecule that finally achieContineumt promotion of remyelination. Decades of failed programs have made remyelination the holy grail of MS drug development.
Contineum had run up anPIPE-307atedrelapsing-remitting MSn pursuing remyelination and other projects by the end of last year. The spending left the biotech with $125 million in cash, cash equivalents and marketable securities from its private financing rounds, which include an $80 million series C it closed in 2021.MS
Contineumch’s identification of public investors as the people to bankroll the next steps in its evolution keeps the IPO stream trickling along. While the pace of new listings slowed after a flurry early in the year, Boundless Bio and now Contineum have kept the IPO market ticking over in March.
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