Sionna Therapeutics has swiftly found a way to put part of its $182 million series C haul to use by signing a contract with AbbVie to add three clinical-phase prospects to its growing pipeline of cystic fibrosis options.
Sionna, located in Boston, has positioned itself as a possible alternative to Vertex’s iron hold on the cystic fibrosis market by pushing initiatives that specifically focus on the repair of NBD1. NBD1 repair has been found to be a method for entirely restoring CFTR function in individuals who have the most prevalent mutation of the main cystic fibrosis protein. On the other hand, the firm has also acknowledged that combinations could be the path leading to the best outcomes.
The acquisition of three molecules from AbbVie on Tuesday represents a significant step forward for Sionna in its pursuit of combo goals. The portfolio that was bought consists of two mid-phase compounds, namely the CFTR correcting agent ABBV-2222 and the CFTR potentiator ABBV-3067.
In a mid-phase clinical study, AbbVie investigated the use of ABBV-2222 and ABBV-3067, compounds also known as galicaftor and navocaftor, respectively, in conjunction with a C1 or C2 inhibitor. However, neither combination succeeded in meeting AbbVie’s goals, which resulted in the firm discontinuing the research and abandoning its cystic fibrosis initiative. As part of its expansion in the cystic fibrosis market, AbbVie paid Galapagos an upfront payment of $45 million in 2018.
Sionna has also acquired access to a phase 1 correcting agent, ABBV-2851. The biotech stated that ABBV-2222 and ABBV-2851 are correctors targeted at TMD1, which is among the CTFR protein function modules. SION-676, Sionna’s very own TMD1-directed corrector, is now in the preclinical research stage, while SION-109, an ICL4-targeted candidate, is currently in phase 1 of clinical testing.
Sionna is currently facing a critical decision amidst the expansion of its pipeline. Following extensive research and analysis, the biotech company discovered that combining Sionna’s NBD1 stabilizers with either SION-109 or the three ex-AbbVie assets led to significantly enhanced efficiency compared to the existing standard of care in a cystic fibrosis assay. This breakthrough finding has prompted Sionna to prioritize the advancement of one of the four compounds in a dual collaboration with its most advanced NBD1 stabilizer.
AbbVie parted ways with the assets in exchange for an upfront payment, an ownership stake in Sionna, and the possibility of obtaining late-stage research and commercial benchmarks and royalties. Neither party has announced the amount of the agreement.
The company had raised the aforementioned $182 million in Series C funding back in March. That round, which was termed ‘oversubscribed’ by the company, helped secure its cash run until 2026. Additionally, it helped the company compete with Vertex Pharmaceuticals, which currently dominates the cystic fibrosis market.
