TargeGen

About TargeGen

TargeGen, Inc. was a biopharmaceutical firm established in 2001 and based in San Diego, California. The company was co-founded by Peter G. Ulrich, who also served as President and CEO, and scientist David Cheresh. John Hood joined as Director of Research in 2001 and co-invented one of the company's key drug candidates. TargeGen's core focus was the development of small molecule kinase inhibitors designed to address vascular permeability, vascular proliferation, and inflammation, which are common factors in many significant human diseases.

The company's business model revolved around discovering and advancing proprietary drug candidates through preclinical and clinical trials to treat a range of conditions. Its primary markets were oncology, ophthalmology, and inflammatory diseases. TargeGen's revenue strategy was centered on venture capital funding and eventual acquisition or partnership with larger pharmaceutical companies. The firm successfully raised multiple rounds of financing, including a $30 million Series B in 2004 and a $40 million Series D in 2007, from investors such as Forward Ventures, Enterprise Partners, and CTI Life Sciences Fund.

TargeGen developed a portfolio of drug candidates, with its most advanced being TG101348 and TG100-115. TG101348 (fedratinib) was an orally administered JAK2 kinase inhibitor developed for treating myeloproliferative diseases like myelofibrosis and polycythemia vera. This drug showed promise for patients with these debilitating blood disorders, for which there were no approved treatments at the time. Another key candidate, TG100-115, was a PI3K gamma/delta inhibitor developed to reduce damage from acute myocardial infarction and also showed potential for treating asthma and certain cancers. A significant milestone was reached in June 2010 when Sanofi-Aventis acquired TargeGen for an initial payment of $75 million, with the total deal valued at up to $560 million based on development milestones. This acquisition validated the potential of TargeGen's lead compound, TG101348, and provided the resources for its continued development.