Three researchers from the Department of Biomedicine have founded their own company and set out to develop a new type of cholesterol-lowering medicine. With their knowledge of biochemistry, they could see that there was something the pharmaceutical industry had overlooked, and this opened for exciting opportunities.

2018.08.09 | Mette Louise Ohana

 

Three researchers without any business experience at all are challenging the pharmaceutical industry in the gigantic market for cholesterol-lowering medicine. This might sound like David versus Goliath. As it may also be. But Simon Glerup, Camilla Gustafsen and Peder Madsen from the Department of Biomedicine have spotted something that no one else has. And they have kept working on it.

Around ten years ago, researchers discovered that the level of the bad LDL cholesterol fell if a protein called PCSK9 – which is made by the liver and found in the blood – was inhibited. This became the pharmaceutical industry’s new hope within cholesterol-lowering medicine for the prevention of blood clots in the heart, and throughout the world the industry has since been busy developing PCSK9-inhibiting drugs. The first products have come to market during the last couple of years and are now an alternative to the world's most sold medication statins, which have the unfortunate side effect of getting the liver cells to produce more PCSK9 thus counteracting the statins own effect on the LDL cholesterol.

But already in 2010, the three researchers from Aarhus could see that there was something that did not fit here. Their basic scientific knowledge told them that PCSK9 had to play a wider role in relation to the condition of the blood vessels rather then just in relation to the LDL cholesterol. If they were correct, it would be possible to prevent blood clots in the heart more effectively by attacking PCSK9 with medicine in a different way. The first experiment was carried out by the researchers in their spare time, and a scholarship paved the way for further experiments.

"Our first results pointed in the right direction. We had the feeling that this could really end up being something big. When we applied for funding, we hardly dared write about it in funding applications because there were also representatives from the pharmaceutical companies among the assessors," says Simon Glerup, who is associate professor at the Department of Biomedicine.

Surprised pharmaceutical industry

The researchers applied for a patent via AU's Technology Transfer Office, which turned out to be a complicated and time-consuming affair. Later they received a grant from the Danish Council for Independent Research: Medical Sciences, and subsequently an exploratory pre-seed scholarship from the Novo Nordisk Foundation and later again a larger pre-seed scholarship from the same foundation.

"With the scholarships, in addition to the funding we also gained access to very competent advice from people at the Novo Nordisk Foundation who had extensive experience with investments and commercialisation. That moved the process forward and was worthwhile for us, because there is a such a gulf from the scientific environment to the commercial world. We’ve spent a great deal of time and energy on understanding how the pharmaceutical industry and the market function."

After the patent application was delivered, the researchers gave some presentations for the pharmaceutical industry and potential investors on their discovery. They were met with a mixture of gawping and enthusiasm. When a big pharmaceutical company showed interest in buying the company – which had not even been established at the time – they knew for sure that they were really onto something.

No way back

Their company Draupnir Bio was founded in April 2017 and since then things have moved quickly.

"We’ve had an extremely steep learning curve, and I’ve never travelled as much, been to so many meetings and met so many different professions as I have during the past year. I’ve been introduced to a completely new world and I’ve gained a great deal of professional respect for other professional groups and also met a lot of understanding of basic research knowledge among, for example, venture capitalists. It’s been extremely interesting and fun and also intense and hard. But when I look back, I would do it all again," says Simon Glerup, who is now CEO of Draupnir Bio alongside his associate professor position.

The goal is to develop a pill that can prevent blood clots in the heart, and which is also priced so it is available to many people. By comparison, the current PCSK9-inhibitors are given as injections and cost almost DKK 30,000 a year per patient in Denmark.

The process has changed Simon Glerup's and his colleagues' approach to research.

"As a researcher, you are kind of in a closed circuit and often have your gaze directed towards wherever there is a prospect of publications and funding. The process of founding Draupnir Bio has given us a much better understanding of how our knowledge can be used, and how it can make a difference for patients. Basically, it has made us better researchers and has also rubbed off on the research taking place in the rest of the group. For me, there’s no way back," says Simon Glerup.

More demanding than you might think

The experiments to develop a new type of PCSK9-inhibitor are still at the preclinical stage. After the clinical phase 2, the researchers expect to search for a business partner, as the next experiments will require more muscles than a small company can muster.

Despite his positive experience, Simon Glerup would not recommend everyone to start a similar project:

"You really have to want it. It’s very time consuming, it’s difficult to learn the ground rules in the pharmaceutical industry and the investment sector, and you can end up sitting in very tough negotiations. It’s also difficult to juggle everything as you must – at the same time – take care of your ordinary job as a researcher and lecturer, not to mention your work-life balance. It’s been very challenging."

If someone chooses to establish a company, Simon Glerup's best advice is to believe in yourself when it comes to your scientific expertise and, conversely, be humble about everything you do not know. It is important to talk to many people about the project and make sure you get as much and as professional advice as possible.

"We've gained lots of useful knowledge that we can work with. Even if our product does not succeed, the work we’ve put in is by no means wasted. And if it succeeds, there will be a basis for saving a great many lives. But there is still a way to go," says Simon Glerup.

More about the financial side

• The product will be sold in most of the world. It is still too early to predict the pricing, but the researchers' ambition is to prevent blood clots in the heart for as many people as possible.
• If the project generates money in the future, some of it will return to AU and the researchers. The largest slice of the cake will go to the investors who have taken the biggest risk.
• The market for cholesterol-lowering medicine is huge. So there is a basis for a huge profit, but the financial risk is considerable. 

Contact

Associate Professor, PhD Simon Glerup
CEO, Draupnir Bio
Aarhus University, Department of Biomedicine
Mobile: (+45) 5122 1727
Email: glerup@biomed.au.dk