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Case Study: Immtech, UNC and the
Development of Drugs for Neglected Diseases
Anatomy of how a for-profit entity and a non-profit research
program leveraged one another for mutual gain
The stage:
Immtech Pharmaceuticals – Publicly-traded company
(AMEX: IMM) focused on anti-infective drug development
Tidwell and Boykin Labs – Labs at UNC and Georgia State
focused on the discovery of novel anti-parasitic compounds
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The Research
•GSU – UNC collaboration focuses on novel diamidines useful for
treating infectious diseases.
•GSU provides chemistry; UNC, pharmacology
Compounds useful for treating:
African Sleeping Sickness
-Parasitic infection spreading from lymph nodes to CNS
-Often fatal
Leishmaniasis
-Protozoal infection causing skin sores and organ damage
Malaria
-Number 1 killer in sub-Saharan Africa (>HIV)
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The Problem
• Low/no commercial potential for large
primary patient populations
• Some commercial potential for small
secondary patient populations (PCP,
travelers to malaria-prone regions)
• $60MM+ required to complete
necessary clinical development
• ….but risk/reward ratio not favorable
for traditional commercial programs
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The Solution
• Large contributions from philanthropic groups (>$40MM)
toward development of anti-infectives for use in the
Developing World
• Clinical data generated applicable to clinical development
for commercial programs
• Philanthropic contributions leverage Immtech’s clinical
development infrastructure
• Immtech’s clinical development leverages data generated
for philanthropic programs
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Logistics*
• Immtech granted commercial rights to all indications
• “Claw-back” rights for UNC/GSU to make compound
available to treat Tryps/Leish in Developing World; as
defined by GDP
• Obligation for Immtech to provide API at fixed cost
• Philanthropic funds administered by third party—
discovery resources flow through UNC/GSU, clinical
resources through Immtech
• Partnership works because….
…each partner gains….and each partner is flexible
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*Details appearing in this presentation are publicly available through Immtech’s SEC filings
The Postscript
•Kidney toxicity emerges in late-stage clinical trials
•Lead drug put on clinical hold
IMPORTANT TO REMEMBER – RISK vs. REWARD
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