Too much iron? Pharmacosmos is betting $225M on a new potential solution for that

11 Nov 2021
endpts.com
Small molecular drugAcquisition
Danish biotech Pharmacosmos has come a long way since it was launched back in 1965 as an active pharmaceutical ingredient (API) manufacturer. While it’s still in the same family, the company now has three drugs approved to treat iron deficiency in humans (and a fourth for piglets). Now, with its latest buyout, the company is looking to add a therapy for just the opposite: iron overload. Pharmacosmos is putting down $225 million to purchase AbFero, a spinout from Raymond Bergeron’s lab at the University of Florida. Its lead candidate, SP-420, recently completed Phase I safety studies as a treatment for transfusional iron overload. While frequent red blood cell transfusions are needed for conditions like ß-thalassemia, sickle-cell disease, and myelofibrosis, a common side effect is iron overload. Red blood cells contain iron, so each time a patient gets a transfusion, they’re adding more iron without any way to get rid of the excess. This extra iron can build up in the internal organs, such as the liver, pancreas or heart, and cause damage over time. To address this problem, doctors prescribe iron chelators — small molecules designed to recognize, bind and remove iron from the body. Novartis has an injectable drug, Desferal, approved, as well as oral options Exjade and Jadenu. But they come with a long list of side effects ranging from impaired vision to kidney problems. SP-420, on the other hand, belongs to a novel class of iron chelators called desferrithiocins — and according to AbFero, it’s designed as a potentially safer alternative with greater efficacy than the currently available drugs. “The role of iron in disease has been vastly underappreciated,” AbFero CEO and co-founder Thomas Neenan said in a statement. “As a leader in iron metabolism disorders, Pharmacosmos is uniquely positioned to realize the full potential of our chelation platform.” Lars Christensen, the youngest son of Pharmacosmos founder Henry Christensen, called the acquisition a “perfect strategic fit,” adding that the company plans on completing the development of SP-420 in transfusional iron overload in addition to exploring other iron-mediated conditions.
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