Lipum is an Umeå-based biopharmaceutical company developing a biological drug with a novel mechanism of action for the treatment of inflammatory diseases, with an initial focus on rheumatoid arthritis. The company's antibody SOL-116 blocks Bile-Salt Stimulated Lipase (BSSL), which is a unique target molecule for the treatment of inflammatory diseases.
Completes Phase I study and prepares for Phase II
SOL-116 is currently being evaluated in a Phase I clinical study with planned results reporting in 2024. So far, the results have confirmed that SOL-116 is safe and well tolerated even in humans.
Once the study is completed, the plan is to initiate a phase II study as soon as possible, which Lipum is currently preparing through discussions with, among others, contract research organizations and LäkemedelsverketIn addition, the company has ongoing discussions with potential partners for the continued development of SOL-116.
BIO-Europe 2023
To promote partnership opportunities, Lipum participates in various types of partnering conferences, where BIO-Europe is high on the company's annual agenda. This year's conference was held in Munich, Germany, and attracted more than 5 participants from 500 countries and 60 companies.
BIO-Europe is a central meeting place for business leaders in the life sciences sector, creating opportunities for networking, fruitful meetings and partnerships. In addition, BIO-Europe is an important platform for discussing current trends and challenges in the industry.
Lipum's CEO on participation in the conference
Lipum's CEO Einar Ponten and business developer Sven Undeland had the opportunity to meet a large number of potential partners in pharma as well as some venture capital players during BIO-Europe. BioStock contacted Einar Pontén to gain more insight into the discussions that took place during the event.
First of all, what was Lipum's main goal in attending the conference?
– We were there to meet both potential partners and investors. We have spoken to many of them before and it was about updating them on the latest progress and telling them what the next steps are. Equally important is getting their comments and recommendations so that we produce the results that are requested. We also initiated new discussions with companies that we have not met before.
How do you usually introduce the SOL-116 project to those who haven't encountered it before?
– The short version is that we have identified a unique target molecule for the treatment of chronic inflammatory diseases and that the company's antibody directed against this is in clinical phase I development.
– Those who haven't heard of us before react with great interest. It's not every day they meet someone with a completely new target in this field. However, we've been around for so long that most people have actually heard of us and our progress before.
What kind of actors did you meet at BIO-Europe?
– We had the opportunity to talk to both large and medium-sized pharmaceutical companies as well as venture capital companies, even though the proportion of VC companies is lower in BIO-Europe during the autumn. It is especially valuable to discuss with the large pharmaceutical companies who are happy to tell us what data they want to see from us.
Was there any specific topic that came up in the conversations during BIO-Europe?
– There was actually not as much focus on the macroeconomics as one might have thought. I did not experience any negative atmosphere at all among the participants. I think we are past that phase now. Overall, there was a very positive atmosphere on the floor and in the meetings.
– Unfortunately, I missed the lectures because partnering meetings took up all the time, but they usually provide an excellent opportunity to catch up on industry trends.
What do potential partners and investors usually ask for?
- Almost everyone in pharma wants to see data from patients, and it doesn't necessarily have to be data from an efficacy study. In our case, it could also be data on how SOL-116 affects biomarkers and interacts with the target (BSSL) in patients. Then of course it's even better if you have efficacy data from a phase II study.
– Many also ask if you have enough capital to be able to move forward with development. We are in a sense part of their pipeline and they really want us to move forward even if they are not quite ready to enter into a collaboration or licensing agreement.
– VC companies are also interested in the shareholder structure of the company, which pharmaceutical companies do not focus on as much.
Are there any specific lessons you take away from the meetings?
– What I take away from BIO-Europe and similar meetings is that you are never “too small” and have done too little. You should be proud of what you have achieved and talk about the company’s achievements and plans for the future. In this way, you put a spin on the relationship with potential partners. You also shouldn’t expect that meeting them once will be enough. It’s about actively building long-term relationships, often over several years, before you can deepen the collaboration in any way. It’s a process that takes time and you have to take a long-term view of the relationship with them.
– It is therefore very important that you document everything that is said in the meetings, because you or someone else will need that information later. I am convinced that there is enough information for Ola Sandborgh to work with when he takes office as the new CEO of Lipum in December.
Finally, how would you compare your candidate to other projects that were on site at BIO-Europe?
– Being First-in-Class means that we have no direct competitors, which has given us peace of mind and good patent protection. But it can also be a challenge as it requires more work on our own compared to pharmaceutical companies that work against known target molecules.
– Since SOL-116 is First-in-Class, the burden of proof is on us. We must not only show that SOL-116 has an effect, but also explain why and how it has an effect. We are continuously working to evaluate the mechanism of action and will publish more about this. Our collaboration with Karolinska Institutet is part of the process to further strengthen our knowledge, which will likely arouse even greater interest from big pharma.