Alkermes Acquires Rodin Therapeutics to Advance Novel Synaptopathy Therapies

VCBeat (WeChat ID: vcbeat) has learned that on November 18, 2019, biotechnology company Alkermes announced the acquisition of Boston-based Rodin Therapeutics. Under the terms of the transaction, Alkermes will pay Rodin an upfront payment of $100 million. Additionally, Alkermes will make further payments totaling up to $850 million if Rodin’s drug candidates achieve certain clinical and regulatory milestones as well as sales thresholds.

Alkermes, a biotechnology company based in Ireland with operations in Indiana, USA, was established in 2011 and focuses on developing drugs for central nervous system disorders. The company’s commercial products include Aristada (aripiprazole lauroxil) for the treatment of schizophrenia, and Vivitrol (naltrexone) for the management of alcohol dependence and opioid dependence.

Rodin Therapeutics, founded in 2013, is dedicated to developing novel therapies for neurological disorders. Synaptopathies are central nervous system diseases associated with synaptic dysfunction. Rodin Therapeutics is committed to developing best-in-class, brain-penetrant oral drugs for these conditions by designing molecules that target specific histone deacetylase (HDAC) complexes. HDAC co-repressors are believed to reactivate neuronal gene expression, thereby improving existing synapses and promoting the growth and formation of new synapses in patients.

“Synaptic loss and dysfunction are associated with certain clinical symptoms rather than the underlying pathology,” said Craig Hopkinson, Chief Medical Officer and Senior Vice President of Drug Development and Medical Affairs at Alkermes. “The platform developed by Rodin may offer potential utility in neuropsychiatry, neurodegenerative diseases, and neurodevelopmental disorders, such as Alzheimer’s disease, Huntington’s disease, frontotemporal dementia, and depression. Furthermore, this new science may have potential applicability in oncology and hematologic diseases.”

Alkermes plans to advance investigational new drug (IND) enabling activities for several of Rodin’s preclinical assets, while continuing Rodin’s preclinical research programs and exploratory work in hematologic disorders and oncology. This program targets patients with frontotemporal dementia who harbor genetic mutations in the progranulin gene (FTD-GRN).

It is estimated that by 2020, the R&D expenses for candidate drugs developed by Alkermes and Rodin Therapeutics will increase by approximately $20 million.

On June 25, Rodin Therapeutics announced positive Phase I data for RDN-929. The drug was confirmed to be safe, with favorable pharmacokinetic and pharmacodynamic properties as well as good tolerability. RDN-929 is a selective HDAC-CoREST inhibitor. However, Alkermes stated that this drug may not be a key priority in its future pipeline.

Adam Rosenberg, CEO of Rodin Therapeutics, stated, “Rodin’s targeted approach to synaptic integrity is underpinned by a robust strategy and holds potential application in a variety of diseases characterized by impaired neuronal and synaptic function. Alkermes has demonstrated its capability to develop novel therapeutics for central nervous system disorders, and we believe it is well-suited to advance this novel therapy for neurological diseases.”

Less than a month earlier, Alkermes cut 160 jobs to “reset” its cost structure. At the time, Alkermes CEO Richard Pops stated that the company was particularly interested in licensing deals and mergers and acquisitions. In February, the U.S. Food and Drug Administration (FDA) rejected the company’s New Drug Application (NDA) for an adjunctive treatment for major depressive disorder (MDD), requesting additional clinical data to demonstrate its efficacy.

(Compiled by Jiang Ying)