Local biopharma is set to maximise Monash University invention

Pharma News: A clinical-stage biopharmaceutical company based around a unique drug delivery platform originally developed by Monash University researchers, has announced the closing of a US$100 million financing round to progress its pipeline of neuropsychiatric medicines.

Therapies for depression and anxiety disorders have been hampered by critical limitations such as minimal oral bioavailability and hepatotoxicity. By leveraging the Glyph platform, pioneered by Professor Christopher Porter and A/Professor Natalie Trevaskis at the Monash Institute of Pharmaceutical Sciences (MIPS), Seaport Therapeutics aims to address these hurdles by reconfiguring the absorption mechanism, facilitating oral administration and reducing liver exposure.

Seaport Therapeutics stands on a solid development strategy with the drug candidate KarXT (xanomeline-trospium), which was part of a BMS acquisition for $14 billion in December and holds promise as the first new class of medicine for schizophrenia patients in over 50 years.

“We are dedicated to bringing first and best-in-class medicines to those that are suffering from depression, anxiety and other neuropsychiatric disorders,” said Daphne Zohar, Founder and CEO of Seaport Therapeutics. “I’m excited to deliver on this mission along with a stellar team of senior leaders and investors.”

The company is also working on SPT-320, a prodrug of agomelatine – an antidepressant available in Europe as Valdoxan but not approved by the FDA. The company hopes its Glyph platform can lower the dose needed for the drug’s effectiveness by reducing its metabolism in the liver and therefore removing the need for liver function monitoring.

Professor Porter and the MIPS team have collaborated closely with PureTech, Seaport’s founder, since 2017 to propel the Glyph platform forward and advance development candidates, notably SPT-300, an oral iteration of allopregnanolone, a naturally occurring neurosteroid that is marketed as Zulresso injection to treat postpartum depression.

“It has been rewarding to see the Glyph technology being used to attempt to unlock the full potential of neuropsychiatric medicines and make much-needed treatments easier, more effective and more accessible for those living with a broad range of neurological conditions,” said Professor Porter.

“Major depression and anxiety disorders are among the most common, disabling and potentially fatal of all medical conditions. Seaport’s pipeline of investigational antidepressants and anxiolytics are well positioned to more effectively treat these disorders,” said Dr Steven Paul, Founder and Chair of the Board of Directors of Seaport.

“This announcement demonstrates global recognition of the transformative impact of Monash University’s research,” said Professor Doron Ben-Meir, Deputy Vice Chancellor (Enterprise and Engagement) and Senior Vice-President, Monash University. “By licensing our world-leading invention, we’ve been able to create the foundation to help millions of people and their families.”

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