Follow the Money: Trevena, Inc.
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.
Trevena, Inc. is a U.S. public pharmaceutical company that discovers and develops pharmaceutical products targeting G protein-coupled receptors. As reported in the September 17, 2015 issue of the PharmSource Lead Sheet, Trevena expects to raise $63.4 million in the completion of a secondary public offering.
- Trevena was incorporated in Delaware in November 2007.
- Corporate Headquarters: King of Prussia, PA – approximately 14,550 square feet of office and laboratory space.
- As of December 31, 2014, Trevena had 42 employees, all of whom are located in the United States.
- Trevena plans to use the proceeds for working capital and general purposes, as well as for product development, including:
- TRV130: Complete Phase III development; submit new drug applications; begin commercial launch preparations:
- For the treatment of acute postoperative pain
- Dosage Form: Parenteral
- Nature of API: Chemical – Controlled substance
- Therapeutic Area: Analgesic – Narcotic
- TRV027: Complete a Phase IIb study:
- For the treatment of acute heart failure
- Dosage Form: Parenteral
- Nature of API: Chemical – Normal potency
- Therapeutic Area: Cardiology/Vascular
- TRV250: Complete a Phase I study:
- For the treatment of refractory migraine
- Dosage Form: Oral
- Nature of API: Chemical- Controlled substance
- Therapeutic Area: Analgesic- Narcotic
- The company contracts with contract research organizations to conduct clinical trials.
- Trevena does not own or operate manufacturing facilities and has no plans to develop them. The company relies on third party contract manufacturers for all required raw materials, API, and finished product for preclinical studies and clinical trials.
- Trevena has no sales, marketing or distribution experience.
- On May 2, 2012, Trevena and Merck and Company entered into a research collaboration focused on screening for biased ligands against an undisclosed receptor using Trevena’s assays. Financial details of the Agreement have not been disclosed.
- On May 3, 2013, Trevena entered into a license agreement with Actavis to license TRV027, under which Actavis will have exclusive worldwide license to develop and commercialize TRV027. TRV027 is a parenteral drug for the treatment of acute heart failure. In March 2015, Trevena and Actavis extended the license Agreement whereby Actavis will pay $10 million to fund the expansion of the ongoing Phase IIb trial of TRV027, and Trevena will receive a $65 million option exercise fee and up to $365 million based on development and commercial milestones.1
|Product Candidate||Indication||Dosage Form||Status||Next Anticipated Step|
|TRV027||Acute Heart Failure||Parenteral||Phase II||TBA|
|TRV130||Moderate to Severe Pain||Parenteral||Phase II||TBA|
|TRV734||Moderate to Severe Pain||Oral||Phase II||TBA|
1Trevena, Inc., 10-K, SEC.gov
|(In $ thousands)||2014||2013|
|General & Administrative Expenditures|
|Total Operating Expenses|
|Trevena, Inc.||Key Officers|
|1018 West 8th Avenue, Suite A||Maxine Gowen, PhD, President & CEO|
|King of Prussia, PA 19406 USA||Roberto Cuca, SVP & CFO|
|Phone: 610-354-8840||Michael W. Lark, PhD, CSO & SVP, Research|
|Web: www.trevenainc.com||David G. Soergel, MD, SVP, Clinical Development|
|Greg Alcorn, VP, Pharmaceutical Development|