Tocagen

About Tocagen

Tocagen was a clinical-stage biopharmaceutical company founded in 2007 by Harry Gruber, focusing on developing gene therapies for cancer. The company's primary business involved the research and development of treatments for high-grade glioma, a type of aggressive brain cancer. Its core product candidates were Toca 511, an injectable retroviral replicating vector, and Toca FC, an orally administered prodrug. This two-part therapy was designed so that Toca 511 would deliver a gene for the enzyme cytosine deaminase (CD) to cancer cells. The subsequent administration of Toca FC (5-fluorocytosine) would then be converted by the CD enzyme into the anticancer drug 5-fluorouracil directly within the tumor, aiming to destroy cancer cells and stimulate a systemic anti-tumor immune response.

The company operated in the competitive biopharmaceutical market, specifically within the advanced field of gene therapy and immuno-oncology. Its business model was centered on raising capital from investors to fund long-term, high-risk research and development cycles, with the goal of eventual commercialization of its therapies upon successful clinical trials and regulatory approval. Tocagen successfully went public in 2017, raising significant funds for its operations.

A significant milestone in the company's history was the initiation of a Phase 3 clinical trial for its lead therapy. However, in September 2019, the trial failed to meet its primary and secondary endpoints, showing no significant benefit over standard care. This event was a major setback, leading to a dramatic fall in the company's stock value and a corporate restructuring that included laying off approximately 65% of its workforce. Following this failure, Tocagen began to explore strategic alternatives. This process culminated in a reverse merger with Forte Biosciences, a privately-held company focused on inflammatory skin diseases, announced in February 2020 and completed in June 2020. As part of the transaction, Tocagen was renamed Forte Biosciences and began trading under a new ticker, effectively ceasing to exist as an independent entity. The combined company shifted its focus entirely to Forte's pipeline, particularly its lead asset for atopic dermatitis.