Eyconis, Inc. Company Profile

Background

Eyconis, Inc., established in January 2024, is a privately held biopharmaceutical company dedicated to transforming the treatment landscape for eye diseases. The company's mission is to develop, manufacture, and commercialize novel, best-in-class therapeutics that address significant unmet needs in ophthalmology, particularly focusing on conditions such as wet age-related macular degeneration (AMD), diabetic macular edema (DME), retinal vein occlusion (RVO), and geographic atrophy (GA). By leveraging innovative technologies, Eyconis aims to deliver long-acting and effective treatments, thereby improving patient outcomes and quality of life.

Key Strategic Focus

Eyconis' strategic focus centers on the development of long-acting ophthalmic therapies utilizing the TransCon technology platform, originally developed by Ascendis Pharma. This platform enables the sustained and effective delivery of clinically validated biologics, targeting the most prevalent causes of retinal blindness. The company's core objectives include advancing its pipeline of therapeutic candidates through clinical development, obtaining regulatory approvals, and successfully commercializing these treatments to address the high unmet needs in ophthalmology.

Financials and Funding

In January 2024, Eyconis secured a $150 million commitment from a syndicate of leading biopharma investors, including Frazier Life Sciences, RA Capital Management, venBio, and HealthQuest Capital. This funding supports the development, manufacturing, and commercialization of TransCon ophthalmology assets. Additionally, Ascendis Pharma granted Eyconis exclusive rights to develop and commercialize these products globally, receiving an equity position in the company. Ascendis is eligible to receive development, regulatory, and sales milestone payments of up to $248 million, plus single-digit royalties on global net sales of commercialized products.

Pipeline Development

Eyconis is advancing a pipeline of therapeutic candidates targeting major causes of retinal blindness, including wet AMD, DME, RVO, and GA. The company's lead candidate is a preclinical-stage therapy for wet AMD, utilizing the TransCon technology to achieve long-acting and effective delivery of biologics. Eyconis aims to progress this candidate through clinical trials, with anticipated milestones including initiation of Phase 1 trials and subsequent phases leading to regulatory submissions.

Technological Platform and Innovation

Eyconis leverages the TransCon technology platform, which facilitates the sustained release of active pharmaceutical ingredients, enhancing therapeutic efficacy and patient compliance. This platform is designed to improve the delivery of parent drugs using an inert carrier, effectively protecting the drug until it reaches its target site. By applying this technology to ophthalmology, Eyconis aims to develop long-acting treatments that address the limitations of current therapies.

Leadership Team

Mark J. Bachleda, PharmD, MBA – Chief Executive Officer: Appointed in June 2024, Dr. Bachleda brings extensive experience from executive roles at Amgen, Juno Therapeutics, and Bristol Myers Squibb. He holds a PharmD from the University of Illinois at Chicago and MBAs from Columbia University and the University of California, Berkeley.

Emmett T. Cunningham, Jr., MD, PhD, MPH – Co-Founder & Executive Chairman of the Board: Dr. Cunningham co-founded Eyconis in 2023 and has over 20 years of experience as an entrepreneur and investor in the biopharmaceutical industry. He holds an MD and MPH from Johns Hopkins University and a PhD in neuroscience from the University of California at San Diego.

Oliver Stauch, PhD – Chief Operating Officer: Dr. Stauch, a founding member of Eyconis, previously served as Head of Ophthalmology at Ascendis Pharma. He has held leadership positions at Genentech, Chugai Japan, and Roche Pharmaceuticals Switzerland. He earned his PhD in Industrial Pharmacy from the University of Freiburg, Germany.

Robert L. Vitti, MD, MBA – Chief Medical Officer: Dr. Vitti joined Eyconis with over two decades of experience in clinical development and medical affairs, notably leading ophthalmology clinical development at Regeneron Pharmaceuticals. He holds an MD from SUNY Health Science Center in Brooklyn and an MBA from New York University.

Karen Chu, MS – Senior Vice President, Clinical Development and Operations: Ms. Chu brings over 30 years of strategic and operational experience in clinical development, previously serving as Vice President and Global Program Head of Ophthalmology at Regeneron Pharmaceuticals. She holds an MS in Human Nutrition from Columbia University.

YongQi Mu, PhD – Vice President, Development Chemistry: Dr. Mu joined Eyconis in March 2024, bringing over 25 years of experience from discovery to late-stage development. She earned her PhD in Medicinal Chemistry from Wayne State University.

Rolf Jansen – Vice President, Operations & Project Management: Mr. Jansen has over 30 years of experience in the pharmaceutical industry, with a background in chemical engineering from the University of Massachusetts, Amherst.

Chris Heynes – Vice President, Process Development & Manufacturing: Mr. Heynes is a seasoned technical leader with over 30 years of experience, holding a background in biochemistry and cell biology from UC San Diego.

William Galush, PhD – Vice President, Analytical Development, Quality Control & Formulation: Dr. Galush specializes in analytical and formulation development, earning his PhD in Chemistry from UC Berkeley.

Leadership Changes

In June 2024, Dr. Mark J. Bachleda was appointed as Chief Executive Officer and Board Director of Eyconis, bringing extensive experience from his previous executive roles in the biopharmaceutical industry.

Competitor Profile

Market Insights and Dynamics

The ophthalmology therapeutics market is experiencing significant growth, driven by the increasing prevalence of retinal diseases such as wet AMD, DME, RVO, and GA. Advancements in drug delivery technologies and the development of long-acting therapies are key trends shaping the market, aiming to improve patient compliance and treatment outcomes.

Competitor Analysis

Key competitors in the ophthalmology therapeutics market include:

Regeneron Pharmaceuticals: Develops EYLEA®, a leading therapy for wet AMD and other retinal diseases.

Novartis: Offers Beovu®, a treatment for wet AMD, focusing on reducing treatment burden through less frequent dosing.

Roche: Develops Vabysmo®, targeting both VEGF and Ang-2 pathways for retinal diseases.

These companies focus on developing innovative therapies with improved efficacy and dosing regimens to address the unmet needs in retinal disease treatment.

Strategic Collaborations and Partnerships

Eyconis was formed through a strategic collaboration with Ascendis Pharma, granting exclusive rights to develop and commercialize TransCon ophthalmology assets. The company is backed by a syndicate of leading biopharma investors, including Frazier Life Sciences, RA Capital Management, venBio, and HealthQuest Capital, providing substantial financial support and industry expertise.

Operational Insights

Eyconis differentiates itself through the application of the TransCon technology platform, enabling sustained and effective delivery of therapeutics for retinal diseases. This approach addresses the limitations of current treatments by potentially reducing dosing frequency and improving patient adherence. The company's leadership team, comprising industry veterans with extensive experience in ophthalmology and biopharmaceutical development, positions Eyconis to effectively navigate the competitive landscape and advance its pipeline.

Strategic Opportunities and Future Directions

Eyconis aims to leverage its proprietary TransCon technology to develop long-acting therapies that address significant unmet needs in ophthalmology. Future directions include advancing its pipeline through clinical development, obtaining regulatory approvals, and establishing commercial partnerships to facilitate market entry. By focusing on innovative drug delivery solutions, Eyconis is well-positioned to make a meaningful impact in the treatment of retinal diseases.