Companies To Watch: Obsidian Therapeutics
By Wayne Koberstein, Executive Editor, Life Science Leader
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WHAT’S AT STAKE
With this “Companies to Watch,” I am stepping slightly over the line — the line I originally drew. A standard criterion for CtW subjects disqualifies companies that develop only technology platforms or improved versions of already approved products. Obsidian appears to do both. Yet those activities could merely reflect the very early stage of a company on its way to creating novel therapies. In this case, and partly in contrast to the much more mature companies I’ve covered recently, I would bet on the latter alternative.
“The Holy Grail and missing link in cell therapeutics are the abilities to regulate or control protein expression and activity in a dose-dependent manner as is feasible with a typical small molecule,” says CEO Paul Wotton. “What really matters is optimizing cell therapeutics with our technology providing the killer app. T-cell therapies are one example of where it’s absolutely necessary to have the ability to regulate cytokines. But the number of cell types we can work with is quite large.”
A single DRD may be applied to multiple cytokines or proteins using small molecules to control them. On the market, Obsidian would supply complete gene and cell therapies, including DRDs, that can be controlled with low-cost or generic drugs. Extending the level and potency of the proteins also can increase their therapeutic action, as Wotton explains. “You can control the cytokine cascade in T-cell therapies using our technology, for example. You can make the cells more robust, and they will act longer, and we can control that now with a small molecule.” The company has selected older small molecule drugs with strong safety profiles that can be given at higher doses because they are less potent than modern-day drugs.
The company has been conducting a strategic business review to match its development plans with particular market needs, looking 10 years ahead. “The right cell types exist now, typically in earlier-stage companies or academic labs. We believe we can build a company around our technology platform but work with different sources and types of cells. It might involve more partnerships with smaller companies or with large pharmaceutical companies. We are also trying to identify programs that we can manage ourselves and take all the way through the clinic. That is the best way to learn about your technology and how to make it work best.”
At such an early stage, Obsidian has an unusually deep bench of executive management with significant industry experience in companies such as Biogen Idec, Vertex, Novartis, Amgen, and a host of small biopharmas. “Building a company around this early-stage technology requires a long-term view,” Wotton says. In addition to recruiting people, ensuring value for patients, securing funds, and forming partnerships, he emphasizes the need for creating a regulatory strategy as early as possible. Other experienced CEOs have told me the same thing, recognizing that regulatory affairs is the central gateway for almost all company activities.
Obsidian now has about a dozen projects underway with DRDs for existing therapeutic proteins and small molecule controllers. But it is obvious this company did not come into the world simply to hire out its platform or reconfigure old products. What we can see in the company right now presages further steps it will logically take toward full originator status.
Vital Statistics
Employees: 49
Headquarters: Cambridge, MA
Finances
Series A: $49.5 M
GV, Atlas Venture, Takeda Ventures, Vertex Ventures HC, Amgen Ventures, Alexandria Venture Investments, ShangPharma Investment Group
Research Partnership Funding
Celgene: discovery/development of novel, regulated cell therapies using Obsidian's CytoDRiVE technology.
Other Partners
Stanford University - The Wandless Lab
Latest Updates
January 2019: Multi-year collaboration with Celgene to develop controllable, novel cell therapies, including precise pharmacologic control of cellular immunotherapies in cancer; initial focus on IL12 and CD40L