Prospect Profile: Vitae Pharmaceuticals
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.
- 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.
- 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.
- 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
|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|
|(In $ thousands)||2013||2012|
|General & Administrative Expenditures||5,406||4,915|
|Total Operating Expenses||20,322||20,842|
1 Vitae Pharmaceuticals Prospectus, SEC.gov
|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|