Prospect Profile: Alder Biopharmaceuticals, Inc.
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.
Alder Biopharmaceuticals, Inc. is a U.S. public pharmaceutical company that develops and manufactures novel antibody therapeutics to treat autoimmune and inflammatory diseases. As reported in the May 8, 2014 issue of the PharmSource Lead Sheet, Alder raised $80 million in the completion of an IPO.
- Alder Biopharmaceuticals was incorporated in Delaware in May 2002.
- Corporate Headquarters: Bothell, Washington – 36,654 square feet of office and laboratory space.
- As of December 31, 2013, Alder had 77 employees.
- Alder plans to use the net proceeds to fund a planned Phase IIb dose-ranging trial of ALD403, a monoclonal antibody targeting CGRP for prevention of migraine; for preclinical product development activities; and for working capital and other general corporate purposes.
- The company contracts with a variety of CMOs within North America and Europe for the manufacture of ALD403 and will do the same for future product candidates – Alder anticipates there will be continued interaction with additional CMOs as product candidates advance and as the company looks to expand access to larger production facilities to supply clinical trials and commercialization.
- Alder relies on third parties to store and distribute supplies for clinical trials.
- The company relies on third parties, such as CROs, clinical data management organizations, medical institutions and clinical investigators, to conduct clinical trials for product candidates.
- Alder currently has no sales or distribution personnel or infrastructure and only limited marketing capabilities, and may seek a partner.
- In November 2009 Alder and BMS entered into a global agreement for the development and commercialization of Clazakizumab, a biologic for the treatment of arthritis. Under the terms, Alder granted to BMS worldwide exclusive rights to develop and commercialize Clazakizumab for potential indications other than cancer, for which Alder retains rights. Alder received an upfront cash payment of $85 million, and may receive potential milestone payments of up to $746 million across a range of indications, and royalties.
|Product Candidate||Indication||Dosage Form||Status||Next Anticipated Step|
|Four Preclinical Programs||Multiple||TBA||Preclinical||Plans to initiate Phase I for selected candidates in 2015|
|ALD403||Migraine||Parenteral||Phase II||Plans to initiate Phase IIb in 2014|
|Clazakizumab (ALD518)||Psoriatic Arthritis||Parenteral||Phase II||Phase II data to be presented by the end of 2014|
|Clazakizumab (ALD518)||Rheumatoid Arthritis||Parenteral||Phase II||Follow-on Phase IIb study to be completed in 2014|
|(In $ thousands)||2013||2012|
|General & Administrative Expenditures||7,674||7,217|
|Total Operating Expenses||39,557||37,886|
|Alder Biopharmaceuticals, Inc.||Key Officers|
|11804 North Creek Parkway South||Randall C. Schatzman, PhD, President & CEO|
|Bothell, WA 98011, USA||John A. Latham, PhD, CSO|
|Phone: 425-205-2900||Mark J. Litton, PhD, CBO & Treasurer|
|Fax: 425-205-2901||Jeffrey T.L. Smith, MD, SVP, Translational Medicine|
|Web: www.alderbio.com||Larry Benedict, SVP, Finance|