Flare Therapeutics, Inc.

BEVERLY HILLS, Calif.--( BUSINESS WIRE )--GordonMD® Global Investments LP announced today that its portfolio company, Flare Therapeutics Inc., has entered into a strategic discovery collaboration with Roche (SIX: RO, ROG; OTCQX: RHHBY). Flare will lead discovery and preclinical activities targeting multiple transcription factor targets in oncology, while Roche will pursue the further preclinical and clinical development and commercialization of potential products from the collaboration, leveraging its industry-leading capabilities in oncology. Combining Flare’s advanced proteomic and mass spectrometry platform — powered by its proprietary library of electrophilic compounds — to discover small molecule drugs targeting transcription factors previously deemed yet to be affected by drugs in oncology with Roche’s experience in developing and manufacturing medicines, this collaboration seeks to advance potentially transformative therapies for patients living with cancer. Flare will receive a US$70 million upfront cash payment and is eligible to receive discovery, development, and commercialization milestone payments potentially exceeding US$1.8 billion and royalties. Additionally, Flare retains a right to co-fund development for one target under the collaboration in exchange for increased royalties in the United States for this target. Flare will retain ownership of its existing pipeline, including its lead clinical-stage program, FX-909, in advanced urothelial cancer, its prostate cancer program entering IND-enabling studies, and other programs in discovery and early development in oncology and other therapeutic areas. “This collaboration reinforces Flare’s capacity to advance its breakthrough science,” said Dr. Craig Gordon, Chief Executive Officer of GordonMD®. “We look forward to our partnership with Roche because we share a commitment to tackling the most challenging disease areas with novel approaches and overcoming the difficulties of drugging transcription factors,” said Rob Sims, Ph.D., Chief Scientific Officer and Co-founder of Flare Therapeutics. About GordonMD® Global Investments LP GordonMD® Global Investments LP was founded in 2021 by Craig Gordon, MD, a licensed physician with more than 14 years of buy-side experience managing global biopharmaceutical portfolios. The firm focuses on identifying differentiated investment opportunities in biopharmaceutical companies primarily located in the U.S., Europe and Japan.

Flare Therapeutics has announced a major strategic discovery collaboration agreement with Roche, a leading global pharmaceutical company. The main goal of this collaboration is to jointly develop small molecule cancer therapies that target transcription factors that have not yet been fully exploited. Under the terms of the agreement, Roche will provide Flare Therapeutics with an upfront payment of up to $70 million to support the initial research and development efforts of the joint project. In addition, Roche will make a milestone payment of up to $1.8 billion if the partnership is successful and reaches predetermined milestones, and Flare Therapeutics will be entitled to royalties accordingly. At the heart of this collaboration is the joint exploration and development of novel cancer therapies targeting 7 to 10 promising transcription factor targets. Transcription factors play a crucial role in the regulation of gene expression, and currently there are relatively few therapies targeting these targets, so this collaboration has important research value and market potential. Through this collaboration, Roche not only demonstrates its strong strength and investment determination in the oncology field, but also further strengthens its strategic layout in the development of innovative drugs. This collaboration marks an important step for Flare Therapeutics in the field of cancer treatment, and also provides new impetus and opportunities for Roche to further develop in the field of cancer treatment. The combined expertise and resources of the two companies in their respective fields are expected to accelerate the development of novel cancer treatments and bring more hope and choice to cancer patients worldwide.

Today, a brief rundown of news involving Amgen and AstraZeneca, as well as updates from Roche, Novartis, and Centessa Pharmaceuticals that you may have missed.Amgen lost $12 billion in market value Tuesday after a Wall Street analyst published a note suggesting the companys closely watched obesity drug MariTide might be associated with loss of bone density. The note, from Cantor Fitzgeralds Olivia Brayer, cited data from volunteers in a Phase 1 trial of MariTide who received the highest drug dose. While the data came from a Nature paper published earlier this year, Brayer uncovered hidden tabs in an Excel file included as part of the supplemental appendix. Amgens drug stimulates a gut hormone called GIP, which Brayer hypothesized may decrease bone density. On Wednesday, Amgen released a statement saying it does not see an association between the administration of MariTide and bone mineral density changes. Jonathan GardnerShares in Lexeo Therapeutics rose by nearly 20% Wednesday after the company said it had reached agreement with the Food and Drug Administration on how to proceed in developing a gene therapy for Friedreich ataxia with cardiomyopathy. The company now plans to measure expression of a protein called frataxin as well as reductions in left ventricular mass index as the two primary goals of a planned registrational study. If successful, Lexeo could pursue an accelerated approval of its therapy, dubbed LX2006. Ned PagliaruloAstraZeneca will spend $3.5 billion to open or expand new research and manufacturing facilities in the U.S. over the next two years, adding more than 1,000 jobs in the process. The funds will be invested in a next-generation biologics facility in Maryland, AstraZenecas research and development center in Massachusetts, cell therapy manufacturing on both the East and West coasts, and specialty drug production in Texas. Through the first nine months of 2024, AstraZenecas capital expenditures amounted to about $1.2 billion. Jonathan GardnerRoche is paying $70 million to startup Flare Therapeutics to develop small molecule drugs targeting transcription factors, or proteins that turn genes on or off, in oncology. Flare will lead discovery and preclinical activities identifying transcription factors, while Roche will lead preclinical, clinical and commercialization of any products that emerge from the collaboration. Flare could earn additional payments and royalties of up to $1.8 billion based on the success of any products, and has the option to co-fund development of one drug in return for increased payments. Launched in 2021 with backing from Third Rock Ventures, Flare has raised $205 million in venture investment. Jonathan GardnerNovartis is paying drug discovery specialist Schrdinger $150 million to start a multi-year research collaboration and expand an agreement giving the Swiss pharmaceutical company access to Schrdingers predictive modeling technology. The two companies intend to work together to identify disease targets in therapeutic areas that are central to Novartis R&D strategy, and advance multiple drugs against them. Novartis will handle clinical development of any candidates that emerge from the partnership. Ned PagliaruloCentessa Pharmaceuticals is discontinuing developing of a hemophilia B treatment in what it described in a statement Tuesday as a “strategic and data-driven decision“ informed by the “evolving treatment and market landscape“ for the blood disease. Centessa will instead invest those resources to advance an orexin agonist for narcolepsy and idiopathic hyposomnia. Phase 1 data for that drug, released by the company Tuesday, showed promise, according to analysts. Ned Pagliarulo '