NEWS & PUBLICATIONS
January 18, 2023
EVOQ Therapeutics and Amgen Expanding Collaboration
Milestone payment received, license and collaboration agreement expanded
ANN ARBOR, Mich., January 18, 2023 /PRNewswire/ -- EVOQ Therapeutics today announced the advancement of their ongoing license and collaboration agreement with Amgen for the discovery and development of novel therapeutics including the receipt of a milestone payment and expansion of the scope of collaboration to include a total of three indications in autoimmune disorders.
Amgen and EVOQ Therapeutics are collaborating on preclinical development of novel drugs using EVOQ’s NanoDisc platform. Amgen is responsible for clinical development and commercialization of the resulting products. EVOQ Therapeutics granted Amgen exclusive rights to selected autoimmune programs and received an upfront payment along with milestone payments potentially totaling more than $240 million in addition to royalties on sales of resulting therapies.
Amgen is a leader in inflammation with an innovative and biosimilar portfolio that includes approved and investigational products for a range of autoimmune diseases. “We are very pleased to have achieved this important milestone in our collaboration with Amgen and we are excited to be moving each of the programs forward with our partner,” said David Giljohann, Ph.D., CEO at EVOQ Therapeutics.
About EVOQ Therapeutics
EVOQ Therapeutics is advancing a pipeline of disease-specific immune modulators to treat patients afflicted with autoimmune diseases. EVOQ's technology platform utilizes a proprietary NanoDisc that has been engineered to optimize the delivery of disease specific antigens to restore immune tolerance. This announcement follows the recent announcement that JDRF will support and fund the development of EVOQ’s technology for a next generation immunotherapy against Type 1 Diabetes.
January 9, 2022
EVOQ Therapeutics Expands Leadership Team with David Giljohann, Ph.D., as Chief Executive Officer and Greg Barrett as Chief Operating Officer
ANN ARBOR, Mich., January 9, 2023 – EVOQ Therapeutics, Inc. (EVOQ), a biopharmaceutical company focused on the discovery and development of drugs to treat patients afflicted with autoimmune diseases, today announced the appointment of David Giljohann, Ph.D., as Chief Executive Officer. Dr. Giljohann will also serve as a member of the Board. The company also announced the appointment of Greg Barrett as Chief Operating Officer.
“The pre-clinical efficacy demonstrated in multiple autoimmune diseases underscores the potential of EVOQ’s transformative immunotherapies,” David Giljohann said. “I’m thrilled to join EVOQ at such an exciting time and to lead the company as we continue executing on our milestones and advancing our NanoDisc platform technology.”
Dr. Giljohann succeeds William Brinkerhoff, who has served as co-founder and CEO since 2016, and will continue to support EVOQ as a member of the Board.
“David’s previous experience at the helm of an early-stage biotechnology company and his extensive work with nanoparticles coupled with Greg’s expertise working with pharmaceutical and biotechnology companies will be crucial to the company as we move forward,” said William Brinkerhoff, EVOQ Therapeutics. “On behalf of everyone at EVOQ, we are honored to welcome David and Greg to our team.”
Dr. Giljohann joins EVOQ Therapeutics with over a decade of industry experience. Most recently, he served as Chief Executive Officer of Exicure where he led the company in developing spherical nucleic acid (SNA) constructs. Giljohann was named to Crain's Chicago Business magazine's 2019 Class of “40 Under 40” list, and Endpoints News’ 2018 “Under-40s” BioPharma Executives list. He received his Ph.D. from Northwestern University where he developed DNA and RNA-modified nanoparticles.
Mr. Barrett has over 30 years of experience in the pharmaceutical and biotechnology industry and has served as President at EVOQ since 2018. Prior to joining EVOQ, Barrett held multiple leadership roles including President of the US Commercial Division at the US Division of Daiichi Sankyo Co., Ltd. Previously, Barrett worked in both the US and International divisions of Schering-Plough. Over the course of his career, Barrett has developed and launched ten pharmaceutical products in multiple therapeutic areas including oncology, hypertension and cardiovascular disease. Barrett holds an M.S. in Biochemistry from the University of Illinois at Urbana-Champaign.
About EVOQ Therapeutics
EVOQ Therapeutics is advancing a pipeline of disease-specific immune modulators to treat patients afflicted with autoimmune diseases. EVOQ's technology platform utilizes a proprietary NanoDisc that has been optimized to deliver antigens to restore immune tolerance. EVOQ recently announced collaborations with Gilead and JDRF following the announcement of EVOQ’s partnership with AMGEN in January 2021 for the discovery and development of novel drugs for autoimmune disorders.
January 3, 2023
Gilead and EVOQ Therapeutics Announce Collaboration to Advance Immunotherapies
Gilead Receives Rights to Exclusively License EVOQ’s NanoDisc Technology to Develop and Commercialize Immunotherapy Products for Rheumatoid Arthritis and Lupus
FOSTER CITY, Calif. & ANN ARBOR, Mich.--(BUSINESS WIRE)-- Gilead Sciences, Inc. (Nasdaq: GILD) and EVOQ Therapeutics, Inc. (EVOQ) today announced a collaboration and licensing agreement to advance EVOQ’s proprietary technology for the treatment of rheumatoid arthritis (RA) and lupus. EVOQ’s NanoDisc technology is designed to enable lymph targeted delivery of disease-specific antigens and has the potential to change the paradigm for the treatment of autoimmune diseases. Under the agreement, Gilead and EVOQ will collaborate on preclinical development. Gilead has the option to exclusively license rights to EVOQ’s NanoDisc technology to pursue product candidates for RA and lupus indications and will be responsible for clinical development and commercialization.
“Despite key advances over the past two decades, there remains significant unmet need for people living with inflammatory and autoimmune diseases,” said Flavius Martin, MD, Executive Vice President, Research at Gilead. “We are excited to collaborate with EVOQ to further expand our autoimmune pipeline with the goal of addressing the needs of people living with these conditions.”
“Gilead has an incredible track record in therapeutic development and of delivering innovative medicines to people around the world. We look forward to working with the Gilead team to advance new treatment options for RA and lupus patients,” said
William Brinkerhoff, CEO at EVOQ.
Beginning in the first quarter of 2022, consistent with recent industry communications from the U.S. Securities and Exchange Commission (SEC), Gilead no longer excludes acquired IPR&D expenses from its non-GAAP financial measures. The transaction with EVOQ is expected to have a de minimis financial impact on Gilead’s GAAP and non-GAAP EPS.
Terms of the Agreement
Under the terms of the agreement, EVOQ could potentially receive up to $658.5 million total in upfront, option exercise and milestone payments across all programs, as well as tiered royalties on product sales.
About EVOQ Therapeutics
EVOQ Therapeutics is advancing a pipeline of disease-specific immune modulators to treat patients afflicted with autoimmune diseases. EVOQ's technology platform utilizes a proprietary NanoDisc that has been optimized to deliver antigens to restore immune tolerance. For more information, please visit www.evoqtherapeutics.com
About Gilead Sciences
Gilead Sciences, Inc. is a biopharmaceutical company that has pursued and achieved breakthroughs in medicine for more than three decades, with the goal of creating a healthier world for all people. The company is committed to advancing innovative medicines to prevent and treat life-threatening diseases, including HIV, viral hepatitis, cancer, and inflammation. Gilead operates
in more than 35 countries worldwide, with headquarters in Foster City, California.
Gilead Forward-Looking Statements
This press release includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 that are subject to risks, uncertainties, and other factors, including the ability of the parties to complete or implement the collaboration in a timely manner or at all; the risk that Gilead may not realize the potential benefits of this collaboration with EVOQ; difficulties or unanticipated expenses in connection with the collaboration and the potential effects on Gilead’s and earnings; the ability of the parties to initiate, progress or complete clinical trials within currently anticipated timelines or at all,
and the possibility of unfavorable results from ongoing or additional trials, including those involving potential therapies developed under the collaboration; the ability of the parties to file applications for regulatory approval or receive regulatory approvals in a timely manner or at all for potential therapies developed under the collaboration, and the risk that any such approvals may be subject to significant limitations on use; the possibility that the parties may make a strategic decision to terminate the collaboration at any time; and any assumptions underlying any of the foregoing. These and other risks, uncertainties and other factors are described in detail in Gilead’s Quarterly Report on Form 10-Q for the quarter ended September 30, 2022, as filed with the U.S. Securities and Exchange Commission. These risks, uncertainties and other factors could cause actual results to differ materially from those referred to in the forward-looking statements. All statements other than statements of historical fact are statements that could be deemed forward-looking statements. The reader is cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties and is cautioned not to place undue reliance on these forward-looking statements. All forward-looking statements are based on information currently available to Gilead, and Gilead assumes no obligation and disclaims any intent to update any such forward-looking statements.
December 13, 2022
EVOQ Announces JDRF Collaboration to Develop its Novel Platform Technology in Type 1 Diabetes
ANN ARBOR, Mich., December 13, 2022 – EVOQ Therapeutics, Inc. (EVOQ), a biopharmaceutical company focused on the discovery and development of drugs to treat patients afflicted with autoimmune diseases, today announced a collaboration with JDRF for the development of a new drug platform for antigen-specific immune-tolerizing therapy against Type 1 diabetes (T1D). JDRF’s Industry Discovery and Development Partnership program will support and fund the development of EVOQ’s proprietary NanoDisc platform to develop a next generation immunotherapy against T1D. EVOQ’s technology is engineered to prime the immune system to orchestrate an immune response towards immune tolerance. “This is an exciting time for EVOQ. Having demonstrated pre-clinical efficacy in multiple autoimmune diseases, EVOQ is enthusiastic to work closely with JDRF on Type 1 diabetes,” said William Brinkerhoff, CEO at EVOQ Therapeutics. “JDRF is thrilled to work alongside the dedicated team at EVOQ Therapeutics at this exciting time,” said Joshua A. Vieth, Ph.D., director of research at JDRF. “EVOQ’s NanoDisc platform technology and novel strategy of priming the immune system to orchestrate an immune response towards immune tolerance has the potential to become a transformative immunotherapy for patients suffering from T1D.”
JDRF’s mission is to accelerate life-changing breakthroughs to cure, prevent, and treat type 1 diabetes (T1D) and its complications. To accomplish this, JDRF has invested more than $2.5 billion in research funding since our inception. We are an organization built on a grassroots model of people connecting in their local communities, collaborating regionally and globally for efficiency and broader fundraising impact, and uniting on a global stage to pool resources, passion, and energy. We collaborate with academic institutions, policymakers, and corporate and industry partners to develop and deliver a pipeline of innovative therapies to people living with T1D. Our staff and volunteers throughout the United States, around the world, and at our five international affiliates are dedicated to advocacy, community engagement, and a shared vision of a world without T1D. For more information, please visit jdrf.org or follow us on Twitter (@JDRF), Facebook (@myjdrf), and Instagram (@jdrfhq).
About EVOQ Therapeutics
EVOQ Therapeutics is advancing a pipeline of disease-specific immune modulators to treat patients afflicted with autoimmune diseases. EVOQ's technology platform utilizes a proprietary NanoDisc that has been optimized to deliver antigens to restore immune tolerance. The collaboration with JDRF follows the announcement of EVOQ’s partnership with AMGEN in January 2021 for the discovery and development of novel drugs for autoimmune disorders.
January 13, 2021
EVOQ Therapeutics Announces a License and Collaboration Agreement with Amgen
ANN ARBOR, Mich., January 13, 2021 /PRNewswire/ -- EVOQ Therapeutics today announced a license and collaboration agreement with Amgen for the discovery and development of novel drugs for autoimmune disorders. Under the terms of the agreement, Amgen and EVOQ will collaborate on preclinical development and Amgen will be responsible for clinical development and commercialization. In exchange for exclusive rights to selected autoimmune programs, Amgen will make upfront and milestone payments potentially totaling more than $240 million, as well as pay royalties on sales of resulting therapies. Amgen is a world leader in the treatment of autoimmune disorders, with a portfolio that includes both innovative medicines, including Otezla® and Enbrel®, and biosimilar products, such as AMGEVITA® (a biosimilar to Humira®) and AVSOLA® (a biosimilar to Remicade®).
November 14, 2019
Accelerate Michigan Innovation Competition Announces EVOQ Therapeutics as Grand Prize Recipient
Accelerate Michigan Innovation Competition (AMIC), a program of Invest Detroit’s ID Ventures, today announced EVOQ Therapeutics was selected as the grand prize recipient at the tenth annual pitch competition. The pitch competition celebrated the 10 year anniversary of the pitching competition, which provides critical funding and support for Michigan startups.
“We are thrilled to celebrate the 10 year anniversary of AMIC,” said Martin Dober, senior vice president and managing director of ID Ventures. “This significant milestone highlights the dedication of Michigan’s entrepreneurial ecosystem to fueling the growth of startups. With their support, startups have been able to receive the critical funding and support they need to build innovative, high-tech companies in the state.”
ID Ventures and its top sponsors Ralph C. Wilson, Jr. Foundation, Invest Michigan, William Davidson Foundation, Michigan Economic Development Corporation and Belle Michigan Impact Fund, among other corporate and startup leaders across Michigan, awarded nearly $1 million in cash to eight innovative startups that were selected from 24 semi-finalists. Nearly 400 top investors, entrepreneurs and community leaders attended the event at the State Savings Bank in Detroit, MI.
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