Photys Therapeutics inks deal with Novo Nordisk

After Eli Lilly’s obesity medicine tirzepatide outperformed Novo Nordisk’s GLP-1 receptor agonist semaglutide in a head-to-head trial and is set to get reimbursement in the UK, Novo is preparing a next-generation programme to selectively activate an undisclosed single cardiometabolic target, may be in the highly profitable obesity space. Rumours that the goal is to develop a fat selective-specific PPAR-gamma activator, could not be verified. PPAR activation has been demonstrated to lead to insulin sensitisation and enhances glucose metabolism.

To this end, the Danish pharmaceutical company has now licensed the PHICS (Phosphorylation-Inducing Chimeric Small Molecules) platform from Photys Therapeutics Inc for US$186m upfront and undisclosed milestone payments. This year the spin-out from Broad Institute has run into financial difficulties and laid off key managers  including Alex Hird, VP of medicinal chemistry; Florence Février-Wagner, VP of discovery and technology; and Edward Holson, chief scientific officer and co-founder.

The start-up company has succeeded in developing a technology that uses bifunctional small molecules dubbed PHICS to phosphorylate and activate interesting target molecules (see figure). Thus, Photys Therapeutics’ proprietary bifunctional small molecules platform unlocks fine-tuned control of protein post-translational modifications, going beyond degradation to restore protein function, repair signaling, and amplify endogenous disease-fighting mechanisms.

According to the agreement, Photys Therapeutics will screen PHICS candidates while Novo Nordisk will lead clinical development and commercialisation of successful candidates under the leadership of new CSO Alexandra Joseph.

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