PharmAkea Therapeutics

About PharmAkea Therapeutics

PharmAkea Therapeutics, Inc. was a privately held, clinical-stage biopharmaceutical company founded in 2012 and based in San Diego. The company was established by a team of experienced drug developers, including John Hutchinson, Ph.D., Jilly Evans, Ph.D., and Kevin Holme, Ph.D., who had previously worked together at Amira Pharmaceuticals. Robert F. Williamson, III, served as the Chief Executive Officer.

The company focused on discovering and developing novel small-molecule therapeutics targeting protein targets involved in fibroproliferative diseases and cancer. Its business model centered on leveraging its drug discovery platform to create and advance therapies for these conditions. PharmAkea's funding came from a significant collaboration with Celgene and a Series A venture round from Bay City Capital. In 2013, Celgene committed $35 million as part of a three-year alliance, which included an equity stake and an exclusive option to acquire PharmAkea.

PharmAkea's lead program was PAT-1251, a small-molecule inhibitor of the LOXL2 enzyme, which plays a key role in the formation of fibrotic tissue. PAT-1251 was developed for the treatment of Idiopathic Pulmonary Fibrosis (IPF) and other fibrotic diseases, such as those affecting the liver and kidneys, as well as some cancers. The company successfully completed a Phase 1 clinical trial for PAT-1251, demonstrating its potential to bind to the LOXL2 enzyme. Another asset was PAT-409, an autotaxin inhibitor, which was spun out in 2019 and subsequently acquired by Blade Therapeutics.

In a strategic move to combine complementary strengths in fibrosis and cancer treatments, PharmAkea was acquired by Galecto, Inc. on December 31, 2019, for $17.4 million. The merger brought together PharmAkea's LOXL2 inhibitor program with Galecto's pipeline of galectin-3 modulators. The combined entity continued under the Galecto name and management, creating a more robust clinical-stage company.