Congratulations Zealand Pharma on your first 25 years. A real Biotech success story: FROM TECHNOLOGY THAT ‘FAILED’ to PUBLICALLY TRADED COMPANY with several DRUGS ON THE MARKET.
Late 1997 Florian Schönharting asked me to look at a technology which potentially could form the basis for one of the first companies to be funded through BankInvest BBU-I, the first #Biotech VC fund in DK, which we had just persuaded Institutional Investors to invest in (367 MDKK – a lot of money back then). Florian called the prospective company for Due-Pep after the inventor Bjarne Due Larsen backed by Leif Helth Jensen (Helth Care), Lars Hellerung Christiansen, and Dan Buxbom. By adding 5 Lys residues to the 5AA Met-Enkephalin they could make it orally active (n=1½). I was surprised and encouraged/challenged them to do it with substance P (11 AA) and #GLP-1 (~30 AA) to show that the technology was actually scalable.
Importantly, Florian gathered a great team including Eva Steiness as CEO and two other former Lundbeck people, John Hyttel, and @David Knott plus also Jørgen Søberg Petersen and Jens H. Mikkelsen ('Jens Damsgaard M') to make: Zealand Pharmaceuticals’ - a company destined to revolutionize biopharmaceuticals by making peptides ORALLY ACTIVE – and we, i.e. BankInvest BBU-I invested happily in the new company, based on the - at that time still only - 1½ Met-enkephalin oral bioavailability curve(s).
As feared, GLP-1 - or rather exendin-4 - did not become orally active by adding the 5 Lys residues ………. But, it had a halflife of 2-3 hours (sub.cut.) and the SIP'ed peptide was - importantly - PATENTABLE. And, at that time companies like Sanofi Aventis badly needed to get into the GLP-1 agonist field to try to compete with #Amylin Pharma's #Exenatide, #Byetta(r) - also exendin-4 - and Novo Nordisk’s #liraglutide to become, #Victoza® (prolonged GLP-1) and so Sanofi eventually bought Zealands’ #Lixisenatide to become #Lyxumia.
The rest is History! - now 25 years long and still counting.
Biotech Lesson: A GREAT TEAM is often more important than a great technology – both, is obviously really great.
We are celebrating 25 years of peptide innovation and bonding through curiosity at Zealand Pharma. Founded on this day in 1998, we embarked on a mission to change lives with next-generation peptide therapeutics. Striving to be the world’s best peptide drug discovery and development company, our peptide platform and expertise is validated through two approved products marketed by our partners. Today, our R&D pipeline aims to address unmet medical needs across several therapeutic areas including #obesity, #rarediseases and chronic inflammation.
We would like to thank our dedicated colleagues, as well as the people who volunteer to take part in our clinical trials and their caregivers, our partners, and our shareholders. Their support has made the last 25 years possible.
We look forward to continuing our journey together.
Senior Consultant at Princeton Capital Advisors
2wcongrats