Only $30 Million At Close, But Could Be $1.3 Billion, If Glioblastoma (GBM | MOD-246) Asset Clears FDA -- Still Immaterial To Merck: Modifi Bio Acquisition

This is a very rare type of cancer overall, but a fairly common type of brain cancer -- and a very daunting one, as it seems patients lack the ability to repair their DNA after an attack, unlike most other cancer survivors on the chemo agent temozolomide.

The allure for Merck is the Yale University Med pedigree, and the innovative small molecule potential candidate MOD-246. We shall see, but here is the latest, from Fierce Biotech:

. . .Merck is putting down $30 million upfront to buy Yale spinout Modifi Biosciences, a deal that includes a preclinical asset designed to take on the tough-to-treat brain cancer glioblastoma (GBM).

“We pitched to venture capitalists and the light switch would just go off when we talked about GBM,” Ranjit Bindra, M.D., Ph.D., Modifi co-founder and physician-scientist at the Yale School of Medicine, told Fierce Biotech in an interview. “You talk to a group like Merck—the light switch goes on.”

Modifi previously struggled to gain strong investor support, which Bindra attributed to a chaotic market and Modifi's desire to stick to GBM, a relatively rare cancer. . . .

“DNA repair defects are a frequent hallmark of tumor cells and a major cause of resistance to cancer therapy,” David Weinstock, M.D., Ph.D., vice president of discovery oncology at Merck Research Laboratories, said in the release. “The talented Modifi Biosciences team has developed an innovative approach that we believe has potential for treating some of the most refractory cancer types.”

Merck and Modifi will next work on IND-enabling studies for MOD-246, with hopes of getting into the clinic by the end of next year, according to Bindra. . . .

With five year survival in brain cancer still at only about 5%, this would be a very welcome development, should it extend survival by even a year or two. Now you know. Onward, to early vote, on Friday this week. Ever, onward!

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