Biogen Idec (NASDAQ: BIIB) today announced the first occupant in
its Biogen Idec Innovation Incubator (bi3). Bi3 is a corporate
initiative designed to contribute to the company´s drug development
pipeline by offering entrepreneurial scientists the opportunity to
rapidly convert novel biological insights into life-saving and
life-changing therapies.
The company, Escoublac, is based on the discovery of a new link
between bone biology and metabolism by Gerard Karsenty, MD, PhD,
professor and chair of Genetics & Development at Columbia University
Medical Center (CUMC). Dr. Karsenty, in addition to his position at
CUMC, will be key scientific advisor at Escoublac. His goal in
building the company is to explore whether the discovery can be
translated into new treatments for metabolic diseases, including type
2 diabetes and obesity. Escoublac´s research focus will build upon Dr.
Karsenty´s discoveries that the hormone osteocalcin is involved in
regulating insulin and fat storage in the body.
"We´re very pleased to be embarking upon this venture with Biogen
Idec," said Dr. Karsenty. "What appealed to me about bi3 was the
access to Biogen Idec´s scientists. The ability to tap into their drug
discovery and development expertise increases our collective chances
of turning a promising discovery into therapies that actually help
patients."
Biogen Idec began reviewing candidates earlier this year for bi3.
The innovation incubator is designed to put scientific founders in the
best position to successfully demonstrate the therapeutic potential of
a drug candidate and realize significant economic benefits within
timelines as short as two to three years. The incubator provides
founders with access to three critical resources necessary to building
a company and advancing a scientific discovery from the lab bench to a
patient´s bedside:
-- Funding: bi3 supplies the financial resources necessary to
convert "drug prototypes" into development candidates that can
quickly enter the clinic.
-- Facility: bi3 offers state-of-the-art laboratory space, office
space and shared equipment in an access-controlled environment
adjacent to Biogen Idec´s headquarters in Cambridge,
Massachusetts.
-- Focus: bi3 offers entrepreneurs the ability to focus on the
science by providing access to Biogen Idec´s drug discovery
expertise, scientific services and world-class technology, as
well as all the business and administrative support required
to manage day-to-day company operations.
"It´s this combination of components that makes the bi3 model
quite unique," said Rainer Fuchs, PhD, Biogen Idec vice president and
executive director of bi3. "For each company´s founder, it´s an
opportunity to advance the science beyond what the academic
environment allows. For us, it´s an opportunity to get involved in
innovative and exciting science that complements our internal R&D
efforts and potentially adds product candidates to our pipeline."
Bi3 supports entrepreneurs working to translate innovative biology
into a product candidate with disease-modifying potential. Research
programs should be advanced enough that they have the potential to
generate product candidates and transition them into development in
two to three years.
About Escoublac
Escoublac was founded based on the discovery that osteocalcin, a
protein found in bone and dentin, plays a role in energy metabolism
and related disorders. The research findings, published in the August
issue of peer-reviewed scientific journal Cell, showed that
osteocalcin encouraged weight loss, increased the production of
insulin-generating beta cells as well as insulin, and improved
sensitivity to insulin. The company aims to transform this discovery
into new therapies for metabolic disorders and related conditions,
such as obesity and type 2 diabetes.
About the Biogen Idec Innovation Incubator (bi3)
Bi3 offers the opportunity for entrepreneurial scientists to
rapidly convert novel biological insights into life-saving and
life-changing therapeutics. Bi3´s unique model blends the best of a
startup´s energy, a venture firm´s capital and a fully-integrated
biotech´s resources to maximize the chances of scientific, clinical
and financial success. For additional information about the Biogen
Idec Innovation Incubator, please visit www.biogenidec.com/bi3.
About Biogen Idec
Biogen Idec creates new standards of care in therapeutic areas
with high unmet medical needs. Founded in 1978, Biogen Idec is a
global leader in the discovery, development, manufacturing, and
commercialization of innovative therapies. Patients in more than 90
countries benefit from Biogen Idec´s significant products that address
diseases such as lymphoma, multiple sclerosis, and rheumatoid
arthritis. For product labeling, press releases and additional
information about the company, please visit www.biogenidec.com.
About Columbia University Medical Center
A leading academic and research university, Columbia continually
seeks to advance the frontiers of knowledge and to foster a campus
community deeply engaged in understanding and addressing the complex
global issues of our time. Founded in 1754 as King´s College, Columbia
University in the City of New York is the country´s fifth oldest
institution of higher learning. Columbia University Medical Center
provides international leadership in basic, pre-clinical and clinical
research, in medical and health sciences education, and in patient
care. The medical center comprises the College of Physicians &
Surgeons, the Mailman School of Public Health, the College of Dental
Medicine, the School of Nursing, the biomedical departments of the
Graduate School of Arts and Sciences, and allied research centers and
institutions. Columbia University´s technology transfer office,
Science & Technology Ventures, specializes in technology
commercialization via licensing and new company formation. It
facilitates the transfer of scientific discovery and innovation from
the university setting into the marketplace. For more information on
STV, please visit http://www.stv.columbia.edu.
Safe Harbor
This press release contains forward-looking statements regarding
the business arrangements and agreements with Escoublac and the
discovery and development of new therapies for metabolic disorders.
These statements are based on the companies´ current beliefs and
expectations. Drug development involves a high degree of risk. Only a
small number of research and development programs result in
commercialization of a product.
Factors which could cause actual results to differ materially from
the companies´ current expectations include the risk that the
companies may not be able to translate their discoveries into new
therapies; the companies may not be able to demonstrate the safety and
efficacy of any such new therapies at each stage of the clinical trial
process; technical difficulties relating to the manufacture of such
new therapies may be encountered; the incubator companies or Biogen
Idec may not be able to meet applicable regulatory standards or
regulatory authorities may fail to approve such new therapies; and the
companies may encounter other unexpected hurdles.
For more detailed information on the risks and uncertainties
associated with Biogen Idec´s drug development and other activities,
see Item 1A entitled "Risk Factors" in Biogen Idec´s quarterly report
on Form 10-Q for the fiscal quarter ended September 30, 2007, that was
filed with the Securities and Exchange Commission on October 23, 2007,
as well as other periodic and current reports of Biogen Idec filed
with the Securities and Exchange Commission. Biogen Idec assumes no
obligation to update any forward-looking statements, whether as a
result of new information, future events or otherwise.
