OncoMed Pharmaceuticals, Inc.
Company typePrivate (2004-13)
Public (2013-19)
Nasdaq: OMED
IndustryPharmaceutical
FoundedUniversity of Michigan
Founders
  • Michael Clarke
  • Max Wicha
DefunctApril 23, 2019 (2019-04-23)
FateAcquired by Mereo BioPharma
Headquarters
Redwood City, California
,
United States
Key people
  • Paul Hastings (CEO)
  • John Lewicki (R&D chief)
  • Chuck Alaimo (Operations director)
RevenueUS$24,700,000 (2012)
Total assetsUS$207,600,000 [1] (2016)
Number of employees
  • 83 (2013)
  • 47 (2007)
Footnotes / references
[2][3][4][5]

OncoMed Pharmaceuticals, Inc. was a public American pharmaceutical development company headquartered in Redwood City, California.[2] The company was founded in August 2004 by two University of Michigan investigators, Michael Clarke and Max S. Wicha.[2][4] As of 2013, the company had 83 employees.[3] OncoMed's drug discovery work focuses on developing "targeted antibodies against cancer stem cells".[3] The cancer stem cell technologies on which OncoMed depends are licensed from the University of Michigan where they were developed by the founders of the company.[4] OncoMed went public in 2013 and was listed on NASDAQ under the stock symbol OMED.[3][4] In April 2019 the company was acquired by Mereo BioPharma and delisted from the Nasdaq.

History

Oncomed was founded in 2004.[6]

In 2007, Oncomed consolidated its operations located in Mountain View and Palo Alto, California onto the single headquarters campus at Seaport Centre in Redwood City.[2] One of the buildings on the new campus was the former home of NeXT.[2]

In 2012, OncoMed sponsored the USAN nonproprietary name vantictumab for a human IgG2 anti-Frizzled antibody, an anti-cancer therapeutic.[7] In the same year, the company sponsored the USAN name demcizumab for a human IgG2 anti-DLL4 antibody, also an anti-cancer therapeutic.[8]

In 2014, OncoMed entered into an anti-cancer stem cell therapeutic development agreement with Celgene encompassing demcizumab and five other biologics from OncoMed's pipeline.[9][10]

As of 2013, co-founder Max Wicha was the director of the University of Michigan Comprehensive Cancer Center and remained a consultant to OncoMed, while co-founder Michael Clarke had taken up a position at Stanford University.[4]

Competitors

In 2013, OncoMed had at least two direct competitors, both public American companies: Stemline Therapeutics and Verastem.[3] By 2014, the list of firms pursuing therapies targeting cancer stem cells had grown to include Boston Biomedical (a subsidiary of Dainippon Sumitomo Pharma), GlaxoSmithKline, Astellas Pharma, Sanofi (the American subsidiary) and Pfizer; however, Stemline and Verastem remain the only two competitors solely focused on cancer stem cells.[9] One analyst holds that OncoMed is the best positioned of the three companies focused on the cancer stem cell area.[9]

Pipeline

Clinical pipeline, Oct 2014[9]
Name Target ID Clinical Phase
demcizumab DLL4 OMP-21M18 II
tarextumab Notch 2/3 OMP-59R5[11] II
vantictumab Fzd7 OMP-18R5[5] Ib
ipafricept Fzd8-fc OMP-54F28[12] Ib
brontictuzumab Notch1 OMP-52M51 I
unnamed DLL4/VEGF OMP-305B83 I
unnamed RSPO3 OMP-131R10 I

As of January 2017, Oncomed had seven clinical-stage drugs in development and four discovery-stage investigations; no OncoMed therapies have made it to market yet.[9] Two candidate drugs being co-developed with Bayer, ipafricept and vantictumab, showed in mid-2014 indications of "causing mild-to-moderate bone-related side effects" among Phase I clinical trial participants, an observation which led the company to halt enrollment and dosing in the trials, and which contributed to a sharp decline in share price.[9][12][13]

Demcizumab, OMP-305B83, and OMP-131R10 are being developed in collaboration with Celgene. Tarextumab and brontictuzumab are being developed in collaboration with GlaxoSmithKline Vantictumab and ipafricept are being developed in collaboration with Bayer.[14]

Corporate governance

In 2013, OncoMed's chief executive officer (CEO) was Paul Hastings,[3] who took the post in 2006.[15] As of 2007, the company's head of R&D was John Lewicki, and the director of operations was Chuck Alaimo.[2] While serving as OncoMed's CEO, Hastings was also a member of the board of directors for the California Healthcare Institute and the Bay Area Biosciences Association, as well as chairing the board of the Biotechnology Industry Organization.[15]

References

  1. ^ "Archived copy". Archived from the original on 2017-01-06. Retrieved 2017-01-05.((cite web)): CS1 maint: archived copy as title (link)
  2. ^ a b c d e f Leuty, Ron (28 Oct 2007). "The NeXT big thing: OncoMed finds a home". San Francisco Business Times.
  3. ^ a b c d e f Timmerman, Luke (18 Jun 2013). "OncoMed Pharmaceuticals Soars in IPO Debut". Xconomy. United States.
  4. ^ a b c d e "U-M start-up OncoMed has initial public offering" (Press release). University of Michigan Health System. 22 Jul 2013.
  5. ^ a b Leuty, Ron (5 Jul 2013). "OncoMed targets 4 million shares in IPO". San Francisco Business Times.
  6. ^ Leuty, Ron (11 May 2012). "OncoMed files for $115 million IPO". San Francisco Business Times. Retrieved 2020-04-21.
  7. ^ "Statement on a nonproprietary name adopted by the USAN Council" (PDF). AMA. 28 Nov 2012. N12/155.(registration required)
  8. ^ "Statement on a nonproprietary name adopted by the USAN Council" (PDF). AMA. N12/07. Retrieved 1 Dec 2014.(registration required)
  9. ^ a b c d e f De, Kanak Kanti (14 Oct 2014). "Is It Time To Consider OncoMed Pharmaceuticals Again?". Seeking Alpha.
  10. ^ Staff (January 1, 2014). "OncoMed, Celgene in $3.3B+ Cancer Stem Cell Collaboration". Industry Watch. Gen. Eng. Biotechnol. News. p. 8.
  11. ^ "OncoMed Pharmaceuticals Initiates Phase 1b/2 Clinical Trial of Anti-Cancer Stem Cell Therapeutic OMP-59R5 (Anti-Notch2/3) in Small Cell Lung Cancer (SCLC) and Amends Phase1b/2 Pancreatic Cancer Trial" (PDF) (Press release). OncoMed. 14 May 2013.
  12. ^ a b Grover, Natalie (13 Jun 2014). "OncoMed halts enrollment in trials of two cancer drugs". Reuters.
  13. ^ Calia, Michael (13 Jun 2014). "FDA Imposes Partial Hold on OncoMed Early-Stage Cancer-Drug Trial". The Wall Street Journal.
  14. ^ "Home | Mereo BioPharma".
  15. ^ a b "Paul J. Hastings". Leadership. California Healthcare Institute. Archived from the original on 2 October 2011.

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