Biotech Values

[iwfal]

FGEN AKBA etc - Competitors in HIF anemia space:

All I am aware of that are in the clinic are GSK, Akebia, and a pilot study from Daiichi Sankyo.

I knew there was at least one more in big pharma (Bayer, it turns out - see here for good list http://www.nature.com/nrneph/journal/v11/n7/fig_tab/nrneph.2015.82_T1.html ).

Status is:

1) Fibrogen Roxadustat - 1/2 way through ph3's for anemia. Pan PHD inhibitor (as best I can tell). Focus is anemias of different stripes (primarily CKD), but with intent to expand to infection related anemias.

2) GSK GSK1278863/Daprodustat - completed ph2s in anemia earlier this year. Inhibitor of which type of PHD is unkown (to me at this time). Most of their focus has been on non anemia indications like wound healing and PAD other aspects of HIF increase. Note that PAD was a strike out - but also note that this wider experience may result in seeing different aspects of the drug-type (i.e. an explanation of why their view of the class is different than FGENs).

3) Bayer BAY85-3934/Molidustat - Like Roxa, the focus in on anemia. Primarily PHD2 inhibitor? Ph2s finish about now.

4) AKBA - focus on anemia. Inhibitors of which type of PHD unknown (to me at this time). Ph2s finished earlier than above, but a delay in starting ph3s (presumably a funding issue)

5) Daichi - Still in ph1s.

6) Akros - ph1s in anemia. Still in ph1s.

All told I'd guess that Roxa is 3 years ahead - which is a lot of time to capture the class market.