BioCritica

About BioCritica

BioCritica was a privately-held biotechnology firm established in May 2011 as a strategic spin-out from the pharmaceutical corporation Eli Lilly and Company. The company was formed through a collaboration between Lilly and private investors Care Capital and NovaQuest Capital. This initiative was supported by the Indiana Economic Development Corporation (IEDC) and BioCrossroads, aiming to foster the life sciences sector in Central Indiana. David Broecker, former CEO of Alkermes, was appointed to lead BioCritica as its chief executive officer.

The company's primary focus was on the United States development and commercialization of Xigris (drotrecogin alfa [activated]), a medicine developed by Lilly for treating severe sepsis. As part of the formation agreement, BioCritica acquired the U.S. rights to Xigris and held an option to acquire the international rights later. The business model was centered on a licensing agreement where Lilly would receive future royalties from Xigris sales and an equity stake in BioCritica. This structure was designed to provide Xigris with dedicated resources that it might not have received within Lilly's larger organization. BioCritica's mission was to build a broader portfolio of hospital-based critical care medicines, with rights to potentially acquire several of Lilly's preclinical critical care compounds.

Xigris is a recombinant version of human activated protein C, possessing antithrombotic, anti-inflammatory, and profibrinolytic properties. It was the only drug approved for severe sepsis, a condition that causes over 200,000 deaths annually in the U.S. However, the drug's market performance was below initial blockbuster expectations, with sales declining to $104 million in the year prior to BioCritica's formation. The company's future heavily depended on the results of an ongoing clinical trial to potentially revitalize the market for Xigris. Ultimately, BioCritica ceased operations after clinical trials yielded negative results, including a very high risk of internal bleeding associated with the drug.