Blackstone Life Sciences is making a $250 million investment in Anagram Therapeutics for an enzyme replacement therapy targeting pancreatic insufficiency.
As a clinical-stage biopharmaceutical company, Anagram focuses on treatments for exocrine pancreatic insufficiency (EPI) due to cystic fibrosis (CF). EPI can also result from diagnoses of pancreatic cancer or other disorders.
What is Exocrine Pancreatic Insufficiency?
Those with EPI do not produce enough pancreatic, or digestive, enzymes to break down foods and absorb nutrients. This can cause malnutrition, abnormalities in fatty acid, severe gastrointestinal symptoms, and a reduced quality of life and life expectancy.
The investment funds further development, eventual approval, and launch of ANG003, Anagram’s novel, oral recombinant enzyme replacement therapy. ANG003 has demonstrated positive clinical data in patients with EPI due to CF.
In a press release, the two partnering companies said this particular patient community faces a “highly disruptive” pill burden. This can mean up to 40 pills daily.
ANG003 may also become the first non-porcine extract product available on the market for this indication.
More on Blackstone Investment in Anagram
Blackstone’s investment follows more than $30 million in previous funding from the Cystic Fibrosis Foundation. This tranche enabled much of the clinical and development work on ANG003 to date.
Anagram is initiating an international Phase II trial for ANG003, after presenting positive data from the earlier clinical study.
“We believe Anagram is well positioned to transform the treatment of pancreatic insufficiency,” said Blackstone Global Head Nicholas Galakatos, PhD.
Galakatos said Blackstone brings “scale capital, deep domain expertise, and hands-on engagement” to help address large unmet medical needs.
“Data generated from ANG003-22-101 in patients with EPI due to CF is compelling,” said Anagram President and CEO Robert Gallotto. “ANG003 [is] a much-needed treatment option for people with CF and others living with EPI.”
