Wow. Thanks Tuck. On the conference call the crme cmo/cso did make clear he was very familiar with this particular cpd and the program and the possible routes to commercialization--apparently he lead the Xigris project. Notwithstanding that, to me it sounds like an expensive speculation; but crme will hit the ground running with it.
Other odds and ends: it took 18 months to do the deal. It's the first biologic outlicensed by lly. P1 was dose escalation with no DLT, finished late 2005. It has high anti-inflamm "punch" which they feel is important as an early effect (I really hope we are not talking another complement inhibitor). CRME put extra time into making sure "they had the mfg side all tied up as well." More than 12 potential indications, including ACS. Royalty is low single to low teens, tiered. Likely EP in CS trial would be reduction in mortality and if successful would move it earlier to mortality prevention obviously expanding the market to a lot of stent procedures. Mul;ti-dose P1, longer infusion, is next (in crme's hands) after meet with FDA. Lly agreed not to compete (using Xigris) in CS. They are counting Protein C to be an accurate biomarker for CS because, if I heard this correctly, they will use it to guide treatment. There was some study they kept mentioning, Italy I think, where Xigris showed some kind of benefit in CS--but sounded like a reach to me.
CS market c/b $300m-$500m at a premium price for lives saved.
Personally, I'm not going to get hung up with literature hits on analogous cpds. When I impersonate a scientist on something that affects a single, much less three, complex pathways (anti-inflam, anti-thrombo and anti-coagulant), I am likely to way over-manage the investment decision when I ought to just wait for the company's own clinical data. Plus, from where I stand with crme I win or lose on oral rsd1235. |
