Phenex Pharmaceuticals

Phenex Pharmaceuticals AG, established in 2002, is a privately held drug discovery and development company situated in Germany's Biotech Cluster Rhine-Neckar. The company was co-founded by Dr. Claus Kremoser and Thomas Hoffmann. Dr. Kremoser, who serves as CEO, has a background in biochemistry, a PhD from the Max Planck Institute, and experience at LION bioscience AG, where he was involved in a major bioinformatics deal with Bayer AG. This blend of scientific and business acumen has been central to Phenex's strategy.

Phenex specializes in the discovery of small-molecule drugs targeting nuclear receptors, with a primary focus on liver diseases, cancer, and autoimmune or chronic inflammatory disorders. The company's business model revolves around identifying and advancing proprietary drug candidates through the preclinical and early clinical stages before forming strategic partnerships with larger pharmaceutical companies for late-stage development and commercialization. This strategy is exemplified by two major agreements. In December 2012, Phenex licensed its RORγt program for chronic inflammatory and autoimmune diseases to Janssen Biotech. A more significant milestone occurred in 2014 when its Farnesoid X Receptor (FXR) program, including the lead drug candidate Cilofexor (formerly GS-9674) for non-alcoholic steatohepatitis (NASH), was acquired by Gilead Sciences. The deal with Gilead included an upfront payment and potential milestone payments of up to $470 million.

The company's core competency lies in its deep expertise in targeting nuclear receptors, which are crucial regulators of metabolism and inflammation. Its pipeline has included drug candidates like PX-102 for metabolic syndrome and NASH, as well as inverse agonists for the ROR-gamma receptor to treat autoimmune conditions such as rheumatoid arthritis and psoriasis. By focusing on the research and discovery phases, Phenex generates revenue through licensing fees, milestone payments, and outright program acquisitions from its partners, which include major players in the pharmaceutical industry. The company has successfully raised capital to fund its research, securing $24.5 million over three funding rounds, with the latest being a Series C round in 2010.

Keywords: drug discovery, small-molecule drugs, nuclear receptors, liver diseases, NASH, autoimmune diseases, cancer therapy, pharmaceutical partnerships, clinical development, ROR-gamma inhibitors, FXR agonists, Cilofexor, Janssen Biotech, Gilead Sciences, Dr. Claus Kremoser, metabolic syndrome, drug licensing, biotech financing, preclinical research, therapeutic development, Heidelberg biotech