With €134M ($140M) backing from the Bill & Melinda Gates Foundation, Intarcia Therapeutics is to develop its Medici drug delivery system that will reduce dosing frequency for HIV prevention medication.
Medici is a subcutaneous delivery system made up of of three technologies:
A stabilisation technology that allows proteins, peptides, antibody fragments, and other highly potent small molecules to be stabilised at or above human body temperatures for up to three years or more; a matchstick-sized osmotic mini-pump that is placed just under the dermal layer of skin to deliver a continuous and consistent flow of medication and a placement technology including proprietary tools designed to provide an optimal user experience.
Intarcia Therapeutics completed an initial Series EE equity financing in September, and secured an additional $206M in the second close of the Series EE equity financing. A third and final close is planned early in 2017.
As part of the Series EE financing, Intarcia entered into a relationship with the Bill & Melinda Gates Foundation to develop and advance an anti-HIV prophylactic, as well as planned enhancements to the Medici technology platform itself.
The relationship with the Gates Foundation will see Intarcia develop its Medici Drug Delivery System – a first once or twice-yearly anti-HIV prophylactic therapy that can fit seamlessly into people’s lives and enable optimal adherence and effectiveness. Adherence is a critical success factor for effective HIV prevention.
Intarcia has already found success with its ITCA 650 for type 2 diabetes in November last year. This triggered a $100M milestone payment.
“Thanks to tremendous financing progress, an even stronger shareholder base, our recent NDA submission in type 2 diabetes, and now a groundbreaking relationship with the Bill & Melinda Gates Foundation, Intarcia is poised to open up a totally new category of important once- or twice-yearly treatment and prevention therapies for some of the world’s most serious chronic diseases − including those that disproportionately affect people with some of the greatest unmet needs,” said Kurt Graves, CEO of Intarcia Therapeutics.
“Over the last five years we have successfully brought to life the vision and promise of our disruptive Medici technology platform, and an expanding pipeline of novel therapeutics. With Medici, and each of our new once- or twice-yearly therapies, we’re aiming to solve some of the biggest unmet needs in the treatment and prevention of major chronic diseases that impact millions and millions of lives every day. We look forward to working with health and regulatory authorities in preparing to bring our first investigational medicine to patients with type 2 diabetes next year. With our new strategic initiative in HIV prevention, we are also tremendously excited and humbled to work with an incredible organisation as smart, forward-looking and purpose-based as the Bill & Melinda Gates Foundation.”