Archemix

About Archemix

Archemix Corp., established in 2000 and based in Cambridge, Massachusetts, was a biopharmaceutical company centered on the development and commercialization of aptamer-based therapeutics. The firm's core technology, SELEX, was a proprietary process for discovering aptamers—synthetically derived oligonucleotides that bind to protein targets with high specificity, functioning similarly to antibodies but produced through chemical synthesis. This approach aimed to create a new class of drugs for a range of chronic and acute diseases, with a focus on cardiovascular conditions, hematology, and oncology.

The company's business model involved a dual strategy: advancing its own proprietary drug candidates while also licensing its intellectual property to major pharmaceutical and biotechnology partners. This generated significant revenue through upfront payments, milestone achievements, and potential royalties, which funded internal pipeline development. Archemix successfully formed numerous collaborations with companies including Merck Serono, Pfizer, Takeda, GlaxoSmithKline, and Eli Lilly, validating its technology platform and generating over $100 million from these partnerships by late 2008. Its primary internal candidate, ARC1779, was an anti-thrombotic agent developed for rare blood disorders like thrombotic thrombocytopenic purpura (TTP), and it progressed to Phase 2 clinical trials.

In November 2008, Archemix pursued a reverse merger with the publicly-traded company NitroMed as a route to the public markets after withdrawing an earlier IPO attempt due to unfavorable market conditions. Following the merger's completion, Kenneth M. Bate, formerly of NitroMed, was appointed President and CEO of the combined entity, which continued under the Archemix name. Ultimately, the company's trajectory culminated in December 2010 when Baxter International acquired all of Archemix's hemophilia-related assets and secured an exclusive license for its anti-TFPI aptamer technology.