TME holds onto $1B dream for brain cancer drug as search for partners nears conclusion

TME Pharma’s hunt for a partner for its brain cancer drug is closer to bearing fruit as the German biotech clings to its hope of generating $1 billion in peak sales from the asset. Berlin-based TME said its hunt for a partner for NOX-A12, a CCL2 inhibitor also known as olaptesed pegol, has narrowed down to two suitors. The biotech has now entered the “final evaluation phase of advanced discussions” with two potential partners interested in licensing the asset, according to an Aug. 24 update. Despite being tight on funds, TME previously managed to take NOX-A12 into a phase 1/2 study for glioblastoma. That study was assessing the CCL2 inhibitor in combination with radiotherapy and Roche’s anti-VEGF drug Avastin. The company—which entered the year with just 2 million euros ($2.3 million) left in the bank—has a phase 2 study ready to go in Germany, with the trial given the green light in the U.S. But first, a partner is needed. With TME touting $1 billion in potential peak sales for the drug, the company described NOX-A12 this morning as a “highly valuable flagship drug for treating brain cancer for which there is currently no known cure.” The aim of the licensing discussions is to find a partner who can take the therapy into phase 2 development, TME explained. “Our discussions in the last months have yielded concrete strategic interest from two parties,” TME CEO Diede van den Ouden said. “As we enter the final evaluation phase, our priority is to select the partner and structuring strategy that maximizes both the commercial value of NOX-A12 and its clinical benefit for patients,” van den Ouden added. “We look forward to updating the market as soon as a decision has been made.” The company previously had a partner for its other key asset—an eye disease drug called NOX-E36 or emapticap pegol—in the form of Singapore Eye Research Institute (SERI). But the institute pulled out in January, less than seven months after forming the collaboration. The German biotech had been developing the anti-CCL2 RNA aptamer as a potential treatment for a range of ophthalmic indications, including glaucoma filtration surgery, fibrosis and inflammation in the back of the eye. For now, the company “continues to explore partnering opportunities for NOX-E36,” it explained in today’s release. Meanwhile, an attempt to branch out beyond biotech has fallen apart. Last year, TME had outlined plans to diversify its investment strategy through a collaboration with an unnamed German company focused on rejuvenating abandoned mining sites in South Africa. However, TME said this morning it has decided not to continue with this project, even as it remains committed to “search[ing] for sound and future-proof companies and activities.”