Prospect Profile: Vitae Pharmaceuticals

by

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.

Vitae Pharmaceuticals is a U.S. public pharmaceutical company that develops small molecule compounds for the treatment of diabetes, Alzheimer’s disease, autoimmune disorders, atopic dermatitis, and acute coronary syndrome. As reported in the October 2, 2014 issue of the PharmSource Lead Sheet, Vitae raised $55 million in the completion of an IPO.

Corporate Highlights

  • Vitae was incorporated in Delaware in May 2001.
  • Corporate Headquarters: Fort Washington, Pennsylvania – 47,000 square feet of space.
  • As of June 30, 2014, Vitae had 52 employees.

Sourcing Opportunities

  • Vitae plans to use the proceeds to advance the RORgt program through Phase I clinical development, to advance VTP-38443 through filing an IND, to advance VTP-38543 through a single dose Phase I clinical trial, to identify additional drug candidates for new therapeutic molecular targets, and for working capital and other general corporate purposes.
  • The company relies on third parties to conduct preclinical studies and clinical trials for product candidates.
  • Vitae does not have any manufacturing facilities or personnel and must rely on third parties for the preclinical, clinical, and commercial manufacture of product candidates.
  • The company has no sales, marketing or distribution capabilities.

Business Relationships

  • In October 2007, Vitae and Boehringer Ingelheim entered into a research collaboration and license agreement to develop novel compounds for the treatment of patients with type 2 diabetes, abnormal blood cholesterol and triglyceride levels, and obesity and hypertension.
  • In June 2009, Vitae and Boehringer Ingelheim entered a collaboration agreement to develop beta-secretase inhibitors for the treatment of Alzheimer’s disease.1

Pipeline

Product Candidate Indication Dosage Form Status Next Anticipated Step
VTP-38443 Acute Coronary Syndrome Oral Preclinical Phase I trial expected to begin in H1 of 2016
VTP-38543 Atopic Dermatitis Unknown Preclinical Phase I safety and pharmacokinetics trial initiation and results expected in H2 of 2015
VTP-43742 Psoriasis, Multiple Sclerosis, other autoimmune diseases Oral Preclinical Phase I trial expected to begin in H1 of 2015. Phase I proof-of-concept results expected by end of 2015.
VTP-37948 (In collaboration with BI) Alzheimer’s Disease Oral Phase I Phase I results expected in H2 of 2014
VTP-34072 (In collaboration with BI) Type 2 Diabetes and metabolic syndrome Oral Phase II Phase II results expected in H1 of 2015

 

Finances

(In $ thousands) 2013 2012
Revenues 22,513 22,348
R&D Expenditures 14,917 15,927
General & Administrative Expenditures 5,406 4,915
Total Operating Expenses 20,322 20,842
Capital Expenditures 186 129

1 Vitae Pharmaceuticals Prospectus, SEC.gov

Contact Information

Vitae Pharmaceuticals Key Officers
502 West Office Center Drive Jeffrey S. Hatfield, President & CEO
Fort Washington, PA 19034, USA Richard Morris, CFO
Phone: 215-461-2000 Richard Gregg, MD, CSO
Fax: 215-461-2006 Gerard M. McGeehan, PhD, VP, Biology
Web: www.vitaepharma.com David A. Claremon, PhD, VP, Chemistry

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.

More posts by Ryan Worthen