Altimmune Acquires Spitfire Pharma to Advance NASH Candidate Drug ALT-801

On July 18, 2019, VCBeat (WeChat official account: vcbeat) learned that biopharmaceutical company Altimmune announced it had reached an acquisition agreement with Spitfire Pharma (“Spitfire”). Subject to customary closing conditions, the transaction is expected to be completed this month.

Altimmune’s acquisition of Spitfire will grant Altimmune rights to SP-1373 (to be renamed ALT-801), a candidate product for the treatment of non-alcoholic steatohepatitis (NASH). Spitfire shareholders will receive a $5 million upfront payment from Altimmune and will be eligible to receive $8 million in cash or common stock upon future clinical trial breakthroughs. Additionally, former Spitfire shareholders will be eligible to receive up to $80 million in sales-based royalties.

Altimmune is an emerging biotechnology company based in Maryland, United States. Founded in 1997, it is currently listed on the Nasdaq. Spitfire Pharma is a portfolio company of Presidio Partners, initiated by John J. Nestor with the sole purpose of developing the NASH candidate drug SP-1373.

“NASH represents a significant unmet medical need, with no approved treatments currently available. Moreover, the global prevalence of this disease is rising due to the expanding obesity epidemic. Preclinical data indicate that ALT-801 can reverse obesity, thereby reducing disease-associated hepatic steatosis, inflammation, and fibrosis.” Dr. Vipin K. Garg, Chairman and Chief Executive Officer of Altimmune, stated, “Adding this exciting candidate to our portfolio marks a highly transformative transaction for Altimmune.”

ALT-801 builds upon Altimmune’s expertise in liver disease development, derived from its HepTcell™ program for the treatment of chronic hepatitis B. Altimmune will continue to leverage its extensive knowledge in developing novel peptide therapeutics to advance the clinical study of ALT-801.

David Collier, CEO of Velocity Pharmaceutical Development and Managing Director of Presidio Partners, stated, “We firmly believe that ALT-801 has the potential to become a significant therapeutic option for NASH, and we are delighted to have found a partner with the resources and experience to advance this candidate through clinical development.”

(Compiled by: Fan Xin)