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Intarcia Forgoes Partnerships, Raises $210M In Equity And Debt Instead

 
• By Paul Bonanos

Rather than partner its implantable formulation of exenatide, the biotech turned to hedge funds and other non-traditional investors for the year’s largest round of private capital. The deal enables Intarcia to begin Phase III trials on lead program ITCA-650 for type 2 diabetes, which it believes could be a blockbuster.

A year ago, Intarcia Therapeutics Inc. was close to a deal that would have licensed its implantable diabetes drug to a Big Pharma partner. Instead of sharing rights to its compound, however, Intarcia has raised a massive $210 million equity and debt round from private investors, one of the largest in recent memory for a privately-held life sciences company. The new funds will allow it to begin Phase III trials on a program that could see approval by 2016.

In a deal announced Nov. 15, five new investors backed Intarcia with $160 million in equity funding and supplied $50...

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More from United States

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• By Eliza Slawther

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More from North America

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• By Sarah Karlin-Smith

Development of the user fee commitment letter largely takes place behind closed doors between industry and FDA. Outside groups see the upcoming negotiation cycle as a chance to change this and other agency information blocks by reminding Commissioner Makary of his commitment to transparency.

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• By Sarah Karlin-Smith

Senate appropriators also put FDA on notice regarding recent meetings and compliance with the Federal Advisory Committees Act, signal positive news on rare pediatric diseases, and offer hints of other agency areas they have close eyes on.

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• By Francesca Bruce

European regulators must work hard to maintain and build vital but fragile trust in science and processes, said speakers at an event celebrating the European Medicines Agency 30th anniversary.