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ScaleVP has been quick to capitalize on "drug repurposing," which
seeks to develop novel uses for existing approved drugs. This approach
allows a company to target very large markets on a significantly
reduced capital spend compared to traditional new drug development
and affords a significant reduction in clinical risk. These benefits
are the foundation for ScaleVP's health care strategy, enabling
access to large markets with lower capital, and faster time to
market. Historically only the very large pharmaceutical companies
could afford to tackle these billion dollar markets, but now with
this "repurposed" strategy small companies can participate as well.
ScaleVP has successfully taken advantage of this model in three
recent investments, Horizon Therapeutics, Orexigen and
Somaxon. In working with these companies, ScaleVP
has developed a formula for success through its careful due diligence,
network of experts and understanding of markets. In these investments
as board members, we have helped to refine intellectual property
strategies, provided referrals for formulation and manufacturing
capabilities, participated in the recruitment of senior executives,
and provided banking and investor introductions.
Horizon Therapeutics
Horizon Therapeutics is developing a single-pill combination of
ibuprofen and famotidine (pepcid) to reduce the gastrointestinal
complications that occur when patients take high doses of non-steroidal
anti-inflammatory drugs. ScaleVP invested in Horizon Therapeutics
as a Series A, and the company was able to begin aggressively
strengthening their intellectual property position and develop
the appropriate product formulation. With ScaleVP's Series B
and C investments, Horizon has been able to continue product
development and has now completed the enrollment of more than
1,500 patients across two trials in its Phase III program while
having spent less than $35 million since the company's inception.
Today, Horizon and ScaleVP work closely together on the evaluation
of financing alternatives for continued growth.
Orexigen
As a biopharmaceutical company focused on the development and commercialization
of pharmaceutical products, specifically obesity drugs, Orexigen
is in a powerful market position. ScaleVP has been an active
member of the Board of Directors since leading the Series B financing
in 2005. With the ScaleVP investment, Orexigen was able to aggressively
pursue the development of the sustained release formulations
of their drugs which were critical for success of the products.
Having gone public in April 2007, the Company has successfully
taken two fixed-dose combination products into late stage clinical
trials for the treatment of obesity. Through ScaleVP's introduction,
the Company met and hired their permanent CFO. Scale VP has also
provided many banker and investor introductions and has participated
in developing the company's intellectual property strategy.
Somaxon
Somaxon has capitalized on more than 35 years of market experience
with the generic drug doxepin to repurpose it for use in insomnia
versus its historical use as an antidepressant. ScaleVP invested
in Somaxon in the Series B and the Company was able to successfully
complete Phase II studies. An additional investment in Series
C allowed the company to begin the Phase III program. ScaleVP
helped build the company with recruiting senior executives and
evaluation of new product opportunities. Somaxon and ScaleVP
worked together to achieve milestones on the first product and
the in-licensing of other new product candidates. Somaxon went
public in December 2005 and currently is awaiting approval of
Silenor, the new brand name for doxepin.
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