This week’s Philadelphia-area life sciences industry news includes a local firm’s multimillion-dollar deal for an agricultural biotech company, a nonprofit research organization naming an acting president, product development updates, and more.
Here's the roundup:
FMC
The Philadelphia-based agricultural sciences company entered into an agreement to acquire BioPhero, a Denmark-based pheromone research and production company, for $200 million.
FMC (NYSE: FMC) said the acquisition will allow it to significantly expand its biologicals platform for insect control and crop protection.
BioPhero has developed a patented fermentation process for manufacturing biologically produced pheromones at a lower cost, and with fewer production steps, when compared to traditional chemical synthesis methods.
Pheromones — a chemical produced by an animal that can change the behavior of another in the same species — can be used in an integrated pest management program to control the buildup of insect populations in farmers’ fields by disrupting the insect mating process, reducing overall egg-laying by adults and decreasing the next generation of the target insect population. The advantage of pheromones over pesticides is that pheromones do not have an impact on the environment and do not harm beneficial insects, such as pollinators, since they precisely target specific pests.
Mark Douglas, FMC's president and chief executive officer, called BioPhero's bioprocessing method "a game-changer in pheromone manufacturing technology."
FMC said it expects revenue from pheromones and pheromone-based insect control products to approach $1 billion by 2030.
Dr. Kathleen Shelton, FMC's executive vice president and chief technology officer, said the company expects to launch five new pheromone products over the next three to five years. Shelton said the companies will also work together to expand the use of fermentation technologies across a wider set of crops targeting a variety of pests, including fungi and weeds.
Dr. Irina Borodina, co-founder and chief scientific officer of BioPhero, said becoming part of FMC will accelerate the development of her company's biologically produced pheromones and its ability to bring the insect control technology to farmers around the world.
BioPhero, a technology spinout from the Technical University of Denmark, started operations in 2018.
The proposed deal, which requires regulatory approvals, is expected to close by the end of the third quarter of 2022.
Monell Chemical Senses Center
The independent and nonprofit research institute that focuses on advancing the scientific understanding of taste, smell, and related senses has appointed Nancy E. Rawson as its acting director and president.
Dr. Robert Margolskee stepped down from both posts, which he held for more than 11 years, at the end of June. He is remaining at the Philadelphia center as a part-time faculty member to continue working on previously started research projects.
Rawson, who received her doctorate in biology from the University of Pennsylvania, has served as the Monell Center’s associate director since 2016 and vice president since 2019. She has research and administrative experience in both academia and the food, flavor, and nutritional products industries.
“The ultimate goal for Monell’s basic chemosensory research has always been to apply our discoveries to better human health and well-being,” said Dr. Rawson. “I look forward to this new role and integrating all that we have learned about taste and smell during the pandemic into the next phase of Monell’s growth.”
Virpax Pharmaceuticals
For the second time in the past two weeks, the Berwyn life sciences company said its plans to go the over-the-counter route for a new product candidate.
This one, however, has a twist.
Virpax (NASDAQ: VRPX) is taking the OTC medical device pathway for AnQlar, which it is developing as a prophylactic antiviral barrier against influenza and SARS-CoV-2, the virus that causes Covid-19.
Anthony P. Mack, the company's CEO, said seeking approval for AnQlar as a non-prescription medical device provides Virpax with a faster development timeline than the OTC non-prescription new drug application pathway that the company had originally pursued for AnQlar.
Mack said the company's next steps include validating AnQlar’s claims and assessing its value for commercialization in North America, Europe and Asia. To support the OTC medical device application, Virpax plans to submit to the FDA AnQlar’s completed in-vitro study, ex-vivo study using human mucosal cells, in-vivo study in rats, toxicology study and its pharmacokinetics characteristics. Virpax anticipates it will also have to complete stability testing, human factors testing for medical devices, safety studies and supplementary in-vitro studies for its OTC application.
Last month, the company said it will be seeking OTC approval for Epoladerm, its experimental osteoarthritis pain treatment formulated as a topical spray. Virpax previously intended to seek approval for Epoladerm as a prescription drug, but shifted to the new approach in hopes of getting the product into the market faster as an over-the-counter treatment.
Quick hits
Annovis Bio (NYSE: ANVS) of Berwyn received notice from the FDA that the company's Phase 3 clinical study of its new drug candidate, buntanetap, in early Parkinson’s disease patients may proceed. Maria L. Maccecchini, the founder and CEO of Annovis Bio, said the company expects to begin recruiting patients for the late-stage clinical trial later this summer. … Newtown Square-based ArriVent Biopharma enrolled the first patient in a Phase-I clinical trial testing its new drug candidate furmonertinib as a potential treatment for advanced or metastatic non-small cell lung cancer with activating epidermal growth factor receptor or HER2 mutations. Furmonertinib, which is approved in China, has been granted fast track designation for the indication by the FDA. The FDA’s fast track program is designed to facilitate the development and expedite the review of drugs to treat serious conditions and fill an unmet medical need. … Exton-based Immunome (NASDAQ: IMNM) announced its experiment cocktail, IMM-BCP-01, retained activity against the most prevalent omicron subvariants of Covid-19 in the United States. IMM-BCP-01, a three-antibody cocktail in which each antibody having a different mechanism of action, is in early-stage clinical testing.
