Marcadia Biotech

About Marcadia Biotech

Marcadia Biotech was a biopharmaceutical company that developed therapeutic products for metabolic diseases, primarily diabetes and obesity. Founded in 2006 by former Eli Lilly and Co. executives Richard DiMarchi, Kent Hawryluk, and the late Gus Watanabe, the company was based in Carmel, Indiana. The founders combined extensive experience from major pharmaceutical corporations like Eli Lilly and Guidant. DiMarchi, who served as Chief Scientific Officer, is a renowned pharmaceutical chemist from his 22-year tenure at Eli Lilly and as a professor at Indiana University.

The company's business model centered on leveraging its proprietary peptide chemistry to create a portfolio of drug candidates aimed at key metabolic hormone pathways. Marcadia's strategy involved forming strategic collaborations and licensing agreements with major pharmaceutical companies to fund research and development, which allowed it to advance its pipeline while minimizing equity dilution. The company secured partnerships with Merck & Co. and Eli Lilly and Company. Its main products in development included MAR701, a dual agonist of GLP-1 and GIP for treating Type II diabetes, and MAR531, a stable glucagon analog for severe hypoglycemia. The research for these compounds was supported by a licensing and sponsored research agreement with Indiana University.

In May 2007, Marcadia Biotech raised $15 million in a Series A financing round co-led by Frazier Healthcare Ventures and 5AM Ventures, with participation from Twilight Venture Partners. This funding, along with a $2 million award from the 21st Century Research and Technology Fund, accelerated the development of its product pipeline. In a significant exit, Marcadia was acquired by the Swiss life sciences giant Roche in December 2010. The deal was valued at an initial $287 million in cash, with an additional $250 million in potential milestone payments.