Follow the Money: Viking Therapeutics, 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.

Viking Therapeutics, Inc. is a U.S. public pharmaceutical company that develops therapies for metabolic and endocrine disorders. As reported in the May 7, 2015 issue of the PharmSource Lead Sheet, Viking Therapeutics raised $24 million in the completion of an IPO.

Corporate Highlights

  • Viking was incorporated in Delaware on September 24, 2012.
  • Corporate Headquarters: San Diego, CA – approximately 5,851 square feet of office space.
  • As of March 31, 2015, Viking had 5 employees, all of whom were engaged in R&D, project management, business development, and finance.

Sourcing Opportunities

  • Viking plans to use the proceeds to support:
    • Clinical development of VK5211, including a Phase II trial in patients with hip fracture.
    • Clinical development of VK2809 and/or VK0214, including a Phase I trial in patients with adrenoleukodystrophy.
    • Development of VK0612, the company’s diabetes program.
    • Development of the company’s EPOR program for anemia.
    • Development of the company’s DGAT-1 inhibitor program for lipid disorders.
    • Working capital and other general corporate purposes.
  • The company contracts with Contract Research Organizations to conduct preclinical studies and clinical trials.
  • Viking 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 clinical trials and preclinical studies.
  • The company has no sales, marketing or distribution capabilities.

Business Relationships

  • On May 21, 2014, Ligand Pharmaceuticals licensed the rights to five programs to Viking Therapeutics, including the FBPase inhibitor program for type 2 diabetes, a SARM program for muscle wasting, a thyroid hormone receptor-beta agonist program for dyslipidemia, an erythropoietin receptor agonist program for anemia and a DGAT-1 inhibitor program for dyslipidemia. Ligand received Viking equity for each program. Ligand also extended a $2.5 million convertible loan facility to Viking.

Pipeline

Product Candidate Indication Dosage Form Status Next Anticipated Step
DGAT-1 Obseity Dyslipidemia Unknown Preclinical TBA
EPOR Anemia Unknown Preclinical TBA
VK0214 Adrenoleukodystrophy Oral Preclinical Plans to complete preclinical testing in H1 of 2015 and initiate clinical studies in Q4 of 2015 or Q1 of 2016.
VK2809 Adrenoleukodystrophy Oral Preclinical Plans to complete preclinical testing in H1 of 2015 and initiate clinical studies in Q4 of 2015 or Q1 of 2016.
VK0612 Type 2 diabetes Oral Phase II Plans to initiate Phase IIb or drug-drug interaction studies.
VK2809 Choleterolemia, Non-Alcoholic Steatohepatitis Oral Phase II Plans to initiate Phase IIa trial in 2015.
VK5211 Hip Fracture Oral Phase II Plans to initiate Phase II trial in 2015 and complete trial in 2016.

 

Finances

(In $ thousands) 2014 2013
Revenues
R&D Expenditures 22,223 11
General & Administrative Expenditures 1,244 89
Total Operating Expenses 23,467 101
Capital Expenditures

Contact Information

Viking Therapeutics, Inc. Key Officers
11119 North Torrey Pines Road, Suite 50 Brian Lian, PhD, President & CEO
La Jolla, CA 92037, USA Rochelle Hanley, MD, CMO
Phone: 858-550-7810 Hiroko Masamune, PhD, SVP, Pharmaceutical Development
Web: www.vikingtherapeutics.com Michael Bleavins, PhD, VP, Preclinical Development
Michael Morneau, CFO

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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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