LifeArc’s joint venture with Pfizer, Bain Capital and OrbiMed
With a purpose of working in partnership with patient foundations and medical research charities, the new company established initial funding of $103m (£78m) to advance medicines that have stalled in development. SpringWorks Therapeutics will advance research into investigational therapies that have stalled for reasons unrelated to scientific promise. Lara Sullivan, President of SpringWorks, explained: “Through our differentiated business model, biopharmaceutical companies have the opportunity to provide these innovative therapies a new avenue for faster development, giving hope to more patient communities in need of new treatments. In simple terms, this means we are unlocking the potential of medicines that may not otherwise be developed further to ultimately benefit patients.”
The SpringWorks business model is rooted in creating partnerships with a variety of like-minded stakeholders. These include but are not limited to scientists, biopharmaceutical partners, patient groups, funders and philanthropists.
“There is a critical need for new treatments and by working together we identify sound scientific projects that have stalled for various reasons and progress them into the development of new drugs. Through many years’ experience, LifeArc has successfully fostered collaborations that progress new therapies for critical diseases, so it is a natural extension of our experience to help more patients benefit from advances in medical science,” said Mike Johnson.
Improvements in research methodology, combined with greater productivity in early research and development phases, can mean biopharmaceutical companies often have more development programs than they can realistically afford to move forward.
SpringWorks has begun its work with four promising clinical programs licensed from Pfizer for desmoid tumours; neurofibromatosis; post-traumatic stress disorder (PTSD) and hereditary xerocytosis – all conditions for which there is currently no cure.
“While Pfizer licensed four compounds to SpringWorks Therapeutics at launch, we anticipate that over time, we will source additional projects from pharmaceutical and biopharma companies, as well as academia.” Sullivan added. “This means that other research that is of value to patients has a new route to creating patient benefit,” said Dave Tapolczay, CEO at LifeArc, “and that’s why Lifearc exists: to break down the barriers that prevent great science being transformed into greater patient benefit.” he concluded.