Merck Passes Huntington’s RNAi Program To Targeted Genetics
This article was originally published in The Pink Sheet Daily
Executive Summary
Sirna division’s early-stage targets are of lesser interest to the pharma firm, analyst tells “The Pink Sheet” DAILY.
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Merck's Sirna division, which specializes in RNA interference therapies, has passed exclusive rights to develop its preclinical Huntington's disease program to Targeted Genetics, in a no-cash deal disclosed April 7. The agreement includes an intellectual property license and undisclosed royalties tied to commercialization. Research will be conducted by Seattle, Wash.-based Targeted Genetics, already a Sirna partner, in cooperation with the University of Iowa. Targeted Genetics told "The Pink Sheet DAILY" it aims to start clinical studies later in 2008. Merck & Co., of Whitehouse, N.J. had bought San Francisco-based Sirna for $1.1 billion in 2006 (1 (Also see "Yes, Sirna: Merck Inks $1.1 Bil. Deal For RNAi Firm" - Pink Sheet, 30 Oct, 2006.)). The main motivator for the purchase was access to delivery platforms for RNAi technology, thought to be useful in disease targets once deemed non-druggable, said Raghuram Selvaraju, analyst with Rodman & Renshaw. On the other hand, Merck's commitment to Sirna's clinical programs - especially an orphan indication like Huntington's - is questionable. "Merck is disease-indication agnostic," Selvaraju said. "It is more interested in developing therapeutics against its own targets as opposed to developing Sirna's programs." "In our view, Huntington's would be a low priority for Merck," he added. Given the expected competition in Huntington's disease, including some promising agents in late-state development, and the fact that Targeted Genetics is a small company, the deal is unlikely to have been worth much, he said. "One would have to say from a timeline perspective, it will be an uphill battle in Huntington's," Selvaraju said. Prestwick Pharmaceutical's dopamine depletor Xenazine (tetrabenazine) got a vote of approval from FDA's Peripheral and Central Nervous System Drug Advisory Committee on Dec. 6, paving the way for the agent to become the first approved for involuntary movements in Huntington's (2 (Also see "Prestwick’s Xenazine For Huntington’s Chorea Gets Positive Vote From FDA Panel" - Pink Sheet, 6 Dec, 2007.)). Alnylam and Medtronic are partnering to develop an implantable infusion system that delivers an RNAi formulation targeted at the gene mutation underlying the disease (3 (Also see "Medtronic Continues To Run (RNA) Interference With Alnylam" - Pink Sheet, 31 Jul, 2007.)). Another contender is Amarin's neuroprotective agent Miraxion (ethyl eicosapentaenoate), which showed promise in a common subgroup of Huntington's patients. Late last year, FDA asked the company to perform another Phase III trial with Miraxion (4 (Also see "Amarin Plans Additional Phase III Trial For Miraxion To Support Huntington's NDA" - Pink Sheet, 20 Nov, 2007.)). -Emily Hayes ([email protected]) |