Esperion Therapeutics

Esperion Therapeutics, Inc.
Public
Traded as NASDAQ: ESPR
Industry Pharmaceutical
Founded May 1998
Founder
  • Roger Newton
  • Tom Rea
  • Michael Pape
  • Charlie Bisgaier
Headquarters Plymouth, Michigan, U.S.
Key people
 Roger S. Newton (President & CEO)
  • Decrease(US$26.1 million)loss (2013)
  • (US$11.7 million)loss (2012)
Total assets
  • IncreaseUS$78.3 million (2013)
  • US$7.31 million (2012)
Website Esperion.com
Footnotes / references
financial information[1]:F-3,4

Esperion Therapeutics, Inc. is a public, American pharmaceutical company focused on the development of LDL-C-lowering therapeutics with potential for treatment of hypercholesterolemia and other cardiometabolic conditions.[1]:54 The company is headquartered in Plymouth, Michigan.[1]:4

History

Esperion was founded with venture capital financing in May 1998 by four Parke-Davis colleagues who left to form the company: Roger Newton (who took the role of CEO), Tom Rea, Michael Pape and Charlie Bisgaier.[2]:163 The company's first Chairman was David Scheer.[2]:163 In year 2000, the company had been listed on NASDAQ (Ticker symbol: ESPR).

Pfizer acquired Esperion in December 2003 for US$1.3 billion as a defensive move to prevent ETC-216 from falling into competitors' hands.[2]:165 Four years later, in 2007, Pfizer decided to kill the Esperion organization and development of ETC-216, but by May 2008, Roger Newton had raised sufficient capital to acquire rights to the therapeutic and Esperion from Pfizer, thereby leading to a second independent period for the company.[2]:165[3][4] In June 2013, Esperion became a public company again through an initial public offering.[5] As of April 2014, Esperion was traded on NASDAQ under the symbol "ESPR".[6]

Product Candidates

ETC-216

ETC-216 was the Esperion internal name for ApoA-1 Milano, a synthetic version of a naturally occurring mutation in the gene encoding human Apolipoprotein A1,[7] complexed with dipalmitoylphosphatidylcholine.[8] Investigation of this protein began in 1976 at the University of Milan and by the late 1990's, rights were held by Pharmacia.[2]:164 Esperion licensed rights for the protein from Pharmacia soon after it was founded; the agreement included a first-right-to-license for Pharmacia, allowing them to buy the rights back from Esperion.[2]:164 After a pivotal trial of the therapeutic in humans yielded positive results,[7] Pharmacia chose not to exercise their right to purchase as the agent is a biopharmaceutical which did not fit into Pharmacia's small molecule portfolio.[2]:164 Thereafter, Pfizer acquired Esperion in December 2003 as a defensive move to prevent ETC-216 from falling into competitors' hands.[2]:165

ETC-1002

ETC-1002 is positioned as a competitor to lipitor.[9] The compound alters the function of both adenosine triphosphate-citrate lyase and adenosine monophosphate-activated protein kinase.[9] As of September 2013, ETC-1002 had been tested in seven clinical trials with more than 300 treated individuals.[10]

References

  1. ↑ 1.0 1.1 1.2 "Esperion Therapeutics, Inc.". EDGAR. Form 10-K. U.S. Securities and Exchange Commission. March 13, 2014. Commission File Number:001-35986.
  2. ↑ 2.0 2.1 2.2 2.3 2.4 2.5 2.6 2.7 Li, Jie Jack (2009). Triumph of the Heart: The Story of Statins. Oxford University Press. ISBN 9780195323573.
  3. ↑ "History". Esperion Therapeutics. Archived from the original on April 29, 2012.
  4. ↑ Catherine Shaffer (2008). "Pfizer jettisons Esperion". Nat. Biotechnol. 26 (7): 724–725. doi:10.1038/nbt0708-724.
  5. ↑ Huggett, Brady (December 2013). "Burning Bright". Nat. Biotechnol. 31 (12). pp. 1068–71.
  6. ↑ "ESPR stock quote". NASDAQ. Retrieved April 22, 2014.
  7. ↑ 7.0 7.1 Nissen, Steven E.; Tsunoda, Taro et al. (November 5, 2003). "Effect of Recombinant ApoA-I Milano on Coronary Atherosclerosis in Patients With Acute Coronary Syndromes". JAMA 290 (17): 2292–300. doi:10.1001/jama.290.17.2292. PMID 14600188.
  8. ↑ Costandi, Justina; Melone, Michelle; Rashid, Shirya (2011). "HDL Levels in Obesity". Anti-Obesity Drug Discovery and Development (Bentham Science Publishers) 1: 36.
  9. ↑ 9.0 9.1 LaMatinna, John (September 5, 2013). "Esperion's Novel Approach To Lowering Cholesterol - Will It Be Successful?". John LaMatinna Blog. Forbes.
  10. ↑ "ETC-1002". Esperion. Retrieved April 22, 2014.

Further reading