Follow the Money: Genocea Biosciences Inc.

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Follow the Money highlights a newly funded bio/pharmaceutical company. This includes important insights into the featured company’s product pipeline, manufacturing and business relationships, and likely sourcing opportunities.

Genocea BioSciences Inc. is a U.S. public pharmaceutical company that discovers, develops and commercializes vaccines based on the discovery of antigens that induce T cell immunity. As reported in the August 6, 2015 issue of the PharmSource Lead Sheet, Genocea expects to raise $50 million in the completion of a secondary public offering.

Corporate Highlights

  • Genocea was incorporated in Delaware in August 2006.
  • Corporate Headquarters: Cambridge, MA – approximately 23,666 square feet of laboratory and office space.
  • As of December 31, 2014, Genocea had 57 employees, of whom 44 were engaged in research & development operations.

Sourcing Opportunities

  • Genocea plans to use the proceeds to support clinical development of these drug candidates:
    • GEN-003: For the treatment of genital herpes
      • Dosage Form: Parenteral
      • Nature of API: Chemical – Normal potency; Biologic – Protein – Recombinant; Biologic– Vaccine
      • Therapeutic Areas: Antiviral; Vaccine (infectious target)
    • GEN-004: For the treatment of pneumococcus
      • Dosage Form: Parenteral– Liquid
      • Nature of API: Biologic–Vaccine– Recombinant
      • Therapeutic Areas: Vaccine (infectious target)
  • Proceeds will also be used to fund the continuation of investments in new research programs; to invest into a variety of capital preservation investments, including interest-bearing instruments and US government securities; and general corporate purposes.
  • The company contracts with contract research organizations to conduct clinical trials.
  • Genocea does not own or operate manufacturing facilities and has no plans to develop them. The company relies on contract manufacturers for all required raw materials, API, and finished product for non-clinical studies and clinical trials.
  • Genocea has no sales, marketing or distribution experience.

Business Relationships

  • In September 2008, Genocea and the Children’s Medical Center Corporation entered into a collaborative research agreement that led to the identification of certain highly conserved pneumococcal antigens that are able to protect against colonization. In February 2010, an exclusive license agreement was entered which granted Genocea the right to make, use, sell, import and export licensed products for the treatment of Streptococcus pneumoniae. Under the terms of the agreement, Genocea are obligated to pay Children’s Medical Center Corporation up to $390,000 upon certain development and commercial milestones.1
  • In March 2014, Genocea entered into a collaborative research agreement with Dana-Farber Cancer Institute and Harvard Medical School to characterize anti-tumor T cell responses in melanoma patients. The collaboration covers the use of Genocea’s ATLAS platform for the rapid discovery of T cell antigens. Additional details were not disclosed.
  • In October 2014, Genocea and Baxter Pharmaceutical Solutions entered into a development and supply agreement in which Baxter will formulate, fill, inspect, package, and label GEN-003 for clinical supply. Genocea pays Baxter for each batch of GEN-003 that is manufactured and also monthly service fee for the duration of the agreement. The agreement will expire on October 23, 2021.

Pipeline

Product Candidate Indication Dosage Form Status Next Anticipated Step
Malaria Program* Malaria N/A Discovery Collaboration funding through 2015
Immuno-Oncology Program* Immuno-Oncology N/A Discovery Research collaboration ongoing
Chlamydia Program* Chlamydia N/A Preclinical TBA
HSV-PX Genital Herpes (Prevention) TBD Preclinical TBA
GEN-003 Genital Herpes (Treatment) Parenteral Phase 2 Plans to initiate Phase II by end of 2015
GEN-004 Pneumococcus Parenteral (Liquid) Phase 2 Plans to initiate Phase 2a by end of 2015

*Genocea’s programs in development. Not actual drug candidates.
1Genocea Technologies Corporation, 10-K, SEC.gov

Finances

(In $ thousands) 2014 2013
Revenues
308
731
R&D Expenditures
23,727
15,695
General & Administrative Expenditures
9,747
4,961
Total Operating Expenses
33,474
20,656

Contact Information

Genocea Technologies Corporation Key Officers
100 Acorn Park Drive Chip Clark, President & CEO
Cambridge, MA 02140 Jonathan Poole, CFO
Phone: 617-876-8191 Eric S. Hoffman, CBO
Fax: 617-876-8192 Seth Hetherington MD, CMO
Web: www.genocea.com Jessica Baker Flechtner PhD, SVP, Research
Paul Giannasca PhD, VP, Biopharmaceutical Development & Production

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Scotty is a Research Analyst at PharmSource. He holds a BS degree in Biology from George Mason University and an MPH degree from Eastern Virginia Medical School. He’s experienced in data collection, analysis and management, and has done laboratory analysis and safety program development.

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