Lipum recruits new CMO: “I have been following their research for a while and am impressed”
In preparation for the continued clinical development of SOL-116 in rheumatoid arthritis, Lipum has strengthened its management team by appointing Peter Hovstadius as the new Chief Medical Officer. Peter brings extensive experience in clinical drug development from leading roles at companies such as XNK Therapeutics, Novartis, and MSD.
– It is important for me to work in an organisation that not only has great ideas but also the capacity to turn those ideas into reality, and always with the patient in mind, says Peter in an interview.
Lipum’s drug candidate SOL-116 is a humanized antibody with a novel mechanism of action for the treatment of chronic inflammatory diseases. The antibody blocks the target protein Bile Salt-Stimulated Lipase (BSSL), which has the potential to provide a safer and more effective treatment.
The safety of the treatment is currently being evaluated in a phase I clinical study. The next step is to evaluate the clinical efficacy in phase II studies. Lipum has already begun preparations for phase II, including manufacturing and study planning.
New CMO at key stage of development
Peter Hovstadius, Lipum’s new CMO, will play a key role in the preparations for the continued development of SOL-116. Peter replaces the former CMO, Karin Franck-Larsson, and is expected to bring essential expertise and experience as the company advances into phase II.
Hovstadius has more than 25 years of experience in the life science sector and has worked in drug development at both large multinational pharma companies and smaller biotech companies. His previous roles include Chief Medical Officer at XNK Therapeutics, Chief Scientific Officer at Novartis, and Research Director at MSD.
Hovstadius is a specialist physician in clinical pharmacology with a PhD in drug development from Uppsala University.
Interview with Peter Hovstadius
BioStock reached out to Peter to learn more about his previous experiences and his initial thoughts on the treatment possibilities with Lipum’s drug candidate SOL-116.
What specific experiences from your previous roles do you believe will be particularly valuable in your new position as Lipum’s CMO?
– I have had the opportunity to work in both large pharmaceutical companies and smaller biotech firms, which has given me a broad understanding of the entire drug development process. One thing I have learned is the importance of staying focused on the right priorities while ensuring that things move quickly and efficiently. There is a balance between strategic thinking and rapid execution that I believe will be crucial as we drive the development of SOL-116 forward.
»One thing I have learned is the importance of staying focused on the right priorities while ensuring that things move quickly and efficiently. There is a balance between strategic thinking and rapid execution that I believe will be crucial as we drive the development of SOL-116 forward.«
– I also have experience in commercial roles and entrepreneurship, which I believe will be very useful for business development at Lipum.
– Furthermore, I have worked in the fields of immunotherapy and chronic inflammatory diseases, which are precisely the areas Lipum focuses on. That experience will definitely help me quickly get up to speed with the development plan.
What attracted you to Lipum?
– Lipum has something unique in the works. I have been following their research for a while, and am impressed by their focus on an entirely new mechanism of action to treat chronic inflammatory diseases. It is a company that combines strong research with a highly competent team – and that is the type of environment I thrive in. It is important for me to work in an organisation that not only has great ideas but also the capacity to turn those ideas into reality, and always with the patient in mind. When you have that combination, you have the potential to make a real difference, and that is what attracted me to Lipum.
»Lipum has something unique in the works. I have been following their research for a while, and am impressed by their focus on an entirely new mechanism of action to treat chronic inflammatory diseases. It is a company that combines strong research with a highly competent team – and that is the type of environment I thrive in.«
Which patient groups and drugs have you previously focused on?
– Throughout my career, I have had the privilege of working with a wide range of patient groups across multiple therapeutic areas. I have worked extensively with chronic inflammatory diseases, where I’ve been involved in the development of drugs like Cosentyx and Ilaris. I have also worked a lot with cancer drugs, such as Gardasil and Mabthera, which are also used for rheumatoid arthritis, and have been involved in the development of drugs for type II diabetes, neurological diseases, cardiovascular diseases, and much more. Recently, I had the privilege of working on an ATMP (Advanced Therapy Medicinal Products) development project involving personalized cell therapy in hematology.
You have also been involved in several important research and development initiatives within the pharmaceutical sector. Could you tell us more about that?
– Something that has always driven me is finding ways to encourage and integrate innovative thinking throughout the organization. It is easy to get stuck in old habits, especially in large organisations where there is often a preference for sticking with the tried-and-true over risk-taking. But being too cautious can mean missing out on big opportunities and being overtaken by smaller, more agile players who dare to embrace the new.
– At Novartis, I took the initiative to establish an Innovation Office in the Nordics. The goal was to create a platform where we could drive innovative collaborations between industry, academia, and government. We focused heavily on connecting with digital health startups and exploring how new technology could accelerate our research and development. It was an exciting project that really demonstrated how combining the best of different worlds can lead to new ways to help patients.
– I have also had the privilege of helping to develop and lead Sweden’s most comprehensive course in drug development at Uppsala University—the “CDD course.” Since its inception, the course has provided a wide range of both Swedish and international research companies with highly qualified personnel, which I hope has contributed to making our Swedish Life Science companies more competitive – and that is something I am proud of.
How do you view the need for new treatments, specifically for chronic inflammatory diseases and rheumatoid arthritis?
– Despite the progress that has been made, there are still significant unmet needs in the treatment of chronic inflammatory diseases. Many patients do not get the relief they need, and the side effects of today’s medications can be substantial. I see it as a great opportunity and responsibility to continue developing new treatment options that can provide better efficacy and fewer side effects. We are not there yet, and that is precisely why we must continue pushing the development forward.
»Many patients do not get the relief they need, and the side effects of today’s medications can be substantial. I see it as a great opportunity and responsibility to continue developing new treatment options that can provide better efficacy and fewer side effects.«
In what way could SOL-116 change the treatment of these patient groups?
– What makes SOL-116 so exciting is its entirely new mechanism of action. Blocking Bile Salt-Stimulated Lipase (BSSL) is a novel approach that has not been seen before in this patient population. It opens up the possibility of potentially offering a treatment that is not only effective but also safer for patients. If our clinical trials confirm what we hope for, SOL-116 could become a new important tool for helping patients who are not getting sufficient results from existing treatments.
What will be important to consider as CMO in preparing for the continued clinical development of SOL-116?
– As CMO preparing for the continued clinical development of SOL-116, it is crucial that we always keep the patient’s best interests at the forefront. Our success depends on our ability to understand the real needs of patients and to develop a drug that can truly make a difference. This requires us to be strategic in our priorities while also being mindful of the financial aspects of our work, ensuring that we use our resources effectively.
»As CMO preparing for the continued clinical development of SOL-116, it is crucial that we always keep the patient’s best interests at the forefront. Our success depends on our ability to understand the real needs of patients and to develop a drug that can truly make a difference.«
– It is also important that we maintain a high degree of flexibility and speed in our work. From quickly and efficiently setting up and conducting clinical trials to analyzing data and making well-informed decisions. By being quick and adaptable, we can create value and build trust, both with our investors and with the patients we ultimately work to help.
The content of BioStock’s news and analyses is independent but the work of BioStock is to a certain degree financed by life science companies. The above article concerns a company from which BioStock has received financing.
