Follow the Money: Inotek Pharmaceuticals

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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.

Inotek Pharmaceuticals is a U.S. public pharmaceutical company that develops therapies with novel mechanisms of action to address significant diseases of the eye. As reported in the February 26, 2015 issue of the PharmSource Lead Sheet, Inotek raised $40 million in the closing of an initial public offering.

Corporate Highlights

  • Inotek was incorporated in Delaware in July 1999.
  • Corporate Headquarters: Lexington, Massachusetts – 2,300 square feet of office space.
  • As of September 30, 2014, Inotek had 4 full-time employees.

Sourcing Opportunities

  • Inotek plans to use the proceeds to fund the continued testing of trabodenoson as a monotherapy and as a fixed-dose combination with latanoprost for the reduction of intraocular pressure, and for general corporate purposes.
  • The company relies on third parties, such as CROs, clinical data management organizations, medical institutions, and clinical investigators, to conduct clinical trials, and to perform data collection and analysis for product candidates.
  • Inotek does not have any experience in drug formulation and does not own or operate manufacturing facilities for clinical or commercial production of product candidates.
  • The company currently has no sales, marketing, or distribution infrastructure.

Business Relationships

  • Inotek is currently exploring licensing of commercialization rights or other forms of collaboration outside the US 1

Pipeline

Product Candidate Indication Dosage Form Status Next Anticipated Step
Trabodenoson Optic Neuropathies Unknown Preclinical TBA
Trabodenoson plus Latanoprost Glaucoma and Ocular Hypertension Liquid – Sterile Phase II TBA
Trabodenoson Glaucoma and Ocular Hypertension Liquid – Sterile Phase II Initiation of Phase III expected in mid-2015

 

Finances

(In $ thousands) 2013 2012
Revenues
R&D Expenditures 5,330 3,542
General & Administrative Expenditures 1,324 2,307
Total Operating Expenses 6,654 5,849
Capital Expenditures

1Inotek Pharmaceuticals Prospectus, SEC.gov

Contact Information

Inotek Pharmaceuticals Key Officers
131 Hartwell Ave, Suite 105 David P. Southwell, President & CEO
Lexington, MA 02421, USA Rudolf A. Baumgartner, MD, CMO & EVP
Phone: 781-676-2100 William K. McVicar, PhD, CSO & EVP
Fax: 781-676-2155 Dale Ritter, VP, Finance
Web: www.inotekpharma.com

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Ryan is a Senior Research Analyst at PharmSource. He holds a BS degree in biology, with a minor in chemistry and a BA degree in Spanish, from the University of North Carolina at Chapel Hill. Prior to joining PharmSource, Ryan worked as a Research Technician in the Neuroscience Center of the UNC Chapel Hill School of Medicine, and has been a named author on research publications.

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