Bay Area biotechs teaching some old drugs new tricks - Silicon Valley / San Jose Business Journal:

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But along with wrapping up clinica l work next year for the stroks drugViprinex -- derived from the venomj of the Malayan pit viper -- the drug-development trial conducteed by the Emeryville company may offeer a glimpse of the biopharmaceutical industry for years to come. Neurobiologicalo Technologies is the fourth company to get its hands on With new technologies and identificationof biomarkers, companies can better see why unsuccessful drug candidates failed and send them throughb a new, more focusex and more efficient round of clinical trials.
Such recyclinfg may become a more commom strategy as venture capitalists and other biopharma investors look to connect proven managemenrt teams with promising drugs that have settled on the back shelvesa oflarger companies. "Yoyu find there were these drugzsthat weren't effective becaused they didn't hit targets as they were developed in the says Neurobiological Technologies President and CEO Paul Freiman.
"Some products that were dogs coulc have a second or athird Indeed, that has been the case with ancrod, a compound whicyh Neurobiological Technologies has reworked as Working under the brand name Arwin, the drug was used untilk the early 1980s in Germany, Austria and Canada to treat circulation problems associated with heav smoking or arteriosclerosis. Yet , then a divisiomn of Germany's BASF, was encouragee by initial stroke studies by two investigators that led to a larger study with several The Malayanpit viper's venom, researcherws found, prevents the blood of its victims from clotting.
In humans, ancrode developers have hoped, it will reduce clottingb in acute ischemicstroke victims. Those stroke occur when the blood supply to a part of the brai n iscut off, accounting for about 80 percenty of all strokes. But while one of Knoll's trialws produced positive results, one in Europe raiser safety concerns. With inconsistent results and meager salews of anotherstroke drug, Knoll haltedd the project. Then BASF in Marcn 2001 sold Knollto . "The European triaol then was neverfully analyzed," says David who designed and ran the successful Knoll trial and now is vice presidenty of clinical development with Neurobiological Technologies.
"Neithef Knoll or Abbott tried to determine the flawas of the trial and concluded thedrug didn't work in that time window and was dead." Levy and a former colleagu e thought otherwise. They formed a , and struck a favorable deal with Abbot to buythe drug, its accompanying data -- and the Levy's colleague was so convinced he had even remortgagec his home to raise the capital to buy ancrod. "Buyt there was no money left do anythinvwith it," Levy says. At the time, Freimann was looking for money and potential products after Neurobiologicalp Technologies had outlicensedan Alzheimer'x disease treatment in 2002-2003.
One of his stopas was the Biotechnology ValueFund LP, a San Francisco privatse investment partnership, whose portfolio manager, Matthew Perry, pointesd Freiman toward Empire. A mergerf deal closed in July 2004. "What reallhy intrigued us is the drug had alreadtbeen (tested) in 2,000 patients in Knoll's That's a rare find in our industry," Freiman "Usually it's five people or 100 Under Levy's guidance, Neurobiological Technologies has changed ancrod's dosing That, he says, gives doctorx up to six hourd to treat new stroke compared to an initial treatment window of abou t three hours in Knoll'w studies.
Viprinex's clinical data has been vetted four times by an independent groupof physicians, Freiman says, with a fifty coming within 60 days. Interim data from the Phase III expected by the end ofthis year, will determinr if Neurobiological Technologies moves the drug forward for U.S. Food and Drug Administration approvalin 2010. A November stock sale netted about $55 helping Neurobiological Technologies' stock avoid delisting for not meetingy theNasdaq exchange's $35 million minimum marke t value. The stock sale also will help finance Viprinex's two Phas e III trials. "We've been like Freiman says.
"We've taken a dead dog and put life backinto