LEAD Therapeutics

About LEAD Therapeutics

LEAD Therapeutics Inc. operated as a drug discovery and early-stage development company, with a strategic focus on creating small molecule therapies for cancer and infectious diseases. The company commenced operations in April 2007, founded by a team that included Peter Myers, Sofie Qiao, and Charles Hsu. Dr. Myers, who served as CEO and Chairman, brought extensive experience from senior roles at Glaxo and Onyx Pharmaceuticals, where he contributed to the discovery of approved drugs like Avodart and Nexavar. Dr. Qiao, the President and COO, incorporated the company in May 2006 and was instrumental in crafting the initial business plan and assembling the founding team. Her background included roles at Genzyme and McKinsey & Company.

The company's business model was designed to leverage scientific and technical resources from both the United States and China to facilitate cost-effective drug discovery. While headquartered in the San Francisco Bay Area, LEAD Therapeutics conducted a significant portion of its research activities in China through collaborations with contract research organizations, including a strategic relationship with ChemPartner in Shanghai. This approach aimed to efficiently produce high-quality Investigational New Drug (IND) candidates. The company secured $17 million in a Series A financing round in November 2007, co-led by Pappas Ventures and ProQuest Investments, with participation from Mustang Ventures. It raised a total of $20 million over two rounds.

LEAD Therapeutics' primary asset was LT-673, an orally available poly (ADP-ribose) polymerase (PARP) inhibitor intended for the treatment of patients with rare, genetically defined cancers. PARP inhibitors represent a class of targeted cancer therapies that have shown significant survival benefits in patients whose tumors have defects in DNA repair. LT-673 demonstrated high activity in preclinical mouse xenograft models of human cancer. In February 2010, BioMarin Pharmaceutical Inc. announced its acquisition of LEAD Therapeutics to augment its pipeline of orphan therapeutics. The deal involved an upfront payment of $18 million, with potential for an additional $79 million in milestone payments related to development and launch, bringing the total potential value to $97 million. The acquisition was completed in mid-February 2010.