96.5 F
San Fernando
Thursday, Mar 28, 2024

Can Amgen Heart Drug Succeed Despite Setbacks?

Last month, Anaheim pharma giant Eli Lilly & Co. announced that it will stop development of experimental cholesterol drug evacetrapib, which could mean good news for Thousand Oaks biotech Amgen Inc. Evacetrapib is a cholesteryl ester transfer protein, or CETP, inhibitor, a new class of cholesterol medication that simultaneously lowers “bad” LDL-C cholesterol while increasing “good” HDL-C cholesterol. The drug was nixed after disappointing results from its phase 3 trial showed minimal effects. The withdrawal of evacetrapib will reduce competition for Amgen’s Repatha, another kind of cholesterol drug called a PCSK9 inhibitor that successfully lowers bad cholesterol but has no effect on the good kind. After Lilly announced its decision to halt evacetrapib, Amgen’s stock rose 2.3 percent. Also, Amgen recently acquired Netherlands biotech firm Dezima Pharma for $300 million, plus an additional $1.25 billion if certain milestones are met. One of the main reasons for the acquisition was to procure Dezima’s TA-8995, another CETP inhibitor that is in the testing phase. Despite Lilly’s failure to find CETP success, there’s hope that TA-8995 will turn out better. “This CETP inhibitor has shown not only the expected marked increase in HDL-C levels as evacetrapib and anacetrapib, but seems to produce even more reductions in LDL-C, based on the early data that is publicly available,” Dr. Peter Jones, chief science officer for the National Lipid Association, said in an email to the Business Journal. Amgen declined to comment on the matter. Psych Clinic A new mental health clinic has opened in Northridge as a complement to an existing care facility. ACT Health and Wellness Outpatient Clinic held its grand opening Oct. 23. The clinic, located at 9003 Reseda Blvd. in Northridge, is an expansion of Topanga West, a 54-bed assisted-living facility for handicapped and mentally disabled adults. The new clinic will offer similar services to Topanga West’s inpatient program but ACT’s services will be outpatient and open to the public. It will offer individual and group therapy, case management services, doctor visits, crisis intervention and housing support. Dr. Michelle Logvinsky, head of clinical services and programs for Topanga West, will hold the same title at ACT Health and Wellness Outpatient Clinic. “There are quite a few people that suffer from mental illness within the community,” said Logvinsky in a statement. “Our aim is to be a resource for the community, so we can provide support to those in need. The service is available not only for patients receiving Medicare and Medi-Cal benefits but also for patients struggling financially. We want to be the place where they can put their lives back together.” VC Deal Avita Medical Ltd. has received about $7.2 million in equity financing in exchange for over 107 million of its shares, which sell on the Australian Stock Exchange. Avita makes skin treatments for burns and scars. The company, which is headquartered in Cambridge, U.K., but has its U.S. office in Northridge, will use the money to commercialize products and fulfill a contract from the federal Biomedical Advanced Research and Development Authority, which will be worth up to $53.9 million during the next five years. Most of the investment money came from current institutional investors, including Sydney’s Hunter Hall International Ltd. and One Funds Management Ltd. Two other Australian firms, Oceania Capital Partners Ltd. and DMP Asset Management Ltd., also invested in Avita. Lab Notes Providence Health & Services is acquiring two cardiology practices operated by nine doctors from Foothill Cardiology California Heart Medical Group Inc. The doctors already hold positions at Providence Saint Joseph Medical Center in Burbank and will now also be a part of Providence Specialty Medical Group. Starting Dec. 1, Providence Medical Institute in West Hills will begin managing the two locations in Burbank and Glendale, which will both be rebranded as Providence Medical Institute Cardiology. … Nonprofit organization Motion Picture & Television Fund received a $25,000 CVS Health Community Grant on Oct. 2 to expand the reach of the fund’s smoking cessation program. The Woodland Hills nonprofit tries to encourage entertainment industry employees to quit smoking through a combination of free counseling and low-cost medication. … Surgeons Dr. Brian Dierckman and Dr. Eric I. Ferkel have joined the Southern California Orthopedic Institute in Van Nuys. Both specialize in sports-related orthopedic surgery, while Ferkel also concentrates on foot and ankle treatments. … HemaCare Corp. has reached supply agreements with Boston’s Sotio and France’s Cellectis. Under terms of the deals, the Van Nuys supplier of blood cells will provide developmental support and high-quality biological material for cell therapy research and commercial product development. Staff reporter Stephanie Henkel can be reached at (818) 316-3130 or [email protected].

Featured Articles

Related Articles