Prospect Profile: Achaogen, Inc.

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Prospect Profile 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.

Achaogen, Inc. is a U.S. public pharmaceutical company that discovers and develops new antibiotics for the treatment of serious, multidrug-resistant Gram-negative bacterial infections. As reported in the March 20, 2014 issue of the PharmSource Lead Sheet, Achaogen raised $72 million in the completion of an IPO.

Corporate Highlights

  • Achaogen was incorporated in Delaware in 2002 and commenced operations in 2004.
  • Corporate Headquarters: South San Francisco, California – 35,000 square feet of office and laboratory space.
  • As of December 31, 2013, Achaogen had 39 employees, 29 of whom were primarily engaged in R&D activities.

Sourcing Opportunities

  • Achaogen plans to use a portion of the proceeds to support the planned registration program for plazomicin. The company plans to use the remainder to fund other R&D activities, and for working capital and general corporate expenditures.
  • The company does not own or operate manufacturing facilities for the production of any product candidates and does not plan to develop manufacturing operations in the foreseeable future.
  • Achaogen relies on third-party contract manufacturers for all required raw materials, drug substance, and finished drug product for preclinical research and clinical trials.
  • Achaogen relies on third-party contract manufacturers for all required raw materials, drug substance, and finished drug product for preclinical research and clinical trials.
  • The company does not have long-term agreements or contracts with any third parties for the manufacture of clinical or commercial supplies of any product candidate and intends to enter into manufacturing agreements upon any approval.
  • Achaogen relies on CROs conduct and manage preclinical studies and clinical trials.
  • The company currently has no sales and marketing staff or distribution organization.

Business Relationships

  • On January 25, 2006, Achaogen entered into a license agreement with Isis Pharmaceuticals under which Isis granted Achaogen an exclusive license to develop and commercialize certain novel aminoglycoside antibacterial compounds. Achaogen is required to pay Isis up to $19.5 million upon the achievement of specified development and regulatory milestones for the first aminoglycoside product developed under the agreement and up to $9.75 million for the second aminoglycoside product.

Pipeline

Product Candidate Indication Dosage Form Status Next Anticipated Step
Additional Gram-negative Discovery and Development Programs Gram-negative bacteria Unknown Discovery TBA
Antibacterial Antibody Pseudomonas aeruginosa Parenteral Preclinical Plans to file at least one IND in 2015.
LpxC Inhibitors Pseudomonas aeruginosa Parenteral Preclinical TBA
Plazomicin Carbapenem-resistant enterobacteriaceae Parenteral Phase III Interim analysis expected in H1 2015

 

Finances

(In $ thousands) 2013 2012
Revenues 18,512 17,941
R&D Expenditures 23,484 26,581
General & Administrative Expenditures 6,992 7,349
Total Operating Expenses 30,476 33,930
Capital Expenditures 110 568

 

Contact Information

Achaogen, Inc. Key Officers
7000 Shoreline Court, Suite 371 Kenneth J. Hillan, CEO & CMO
South San Francisco, CA 94080, USA Derek Bertocci, SVP & CFO
Phone: 650-800-3636 Becki Filice, SVP, Development Operations & Portfolio Management
Fax: 650-434-3765 Christine Murray, VP, Regulatory Affairs
Web: www.achaogen.com

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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