A little over four years ago, biotechnology giant Amgen retreated from neuroscience research, halting much of its work developing treatments for diseases of the brain and trimming associated staff.
Amgen’s pivot proved a boon for a small startup that was then just getting started in the big drugmaker’s backyard. Latigo Biotherapeutics, which, like Amgen, is based in Thousand Oaks, California, quickly hired some of those former Amgen scientists to jump-start its own neuroscience plans.
“We were fortunate that, just at that moment, Amgen strategically exited neuroscience and laid off a lot of really good people into the local community here, including folks I knew quite well from my days as head of R&D at Amgen,” said Sean Harper, who after leaving Amgen in 2018 became the founding managing director of venture firm Westlake Village Biopartners.
Westlake created Latigo and later led a $135 million fundraising that gave the startup the resources to build a pipeline of painkillers it hopes could yield a non-addictive alternative to opioids like Vicodin. On Wednesday, the company debuted publicly, revealing the Series A financing as well as its lead drug candidate.
Latigo’s pitch is similar to one from Vertex Pharmaceuticals, which last month released late-stage trial results showing a non-opioid treatment it developed could alleviate pain following surgery. Vertex plans to soon ask for regulatory approval for the drug, which, if cleared, would be the first of its type.
Latigo’s target is the same as Vertex’s: a kind of molecular “gate” found in certain nerve cells that relays pain signals to the brain. This gate, a sodium channel known as NaV1.8, is only found in peripheral nerve cells, meaning drugs that block it could avoid the kind of brain-involved side effects that make opioids dangerous.
Vertex’s results provided clinical validation of a hypothesis that was already well supported by genetic data. They also set a high bar for success. And with a drug ready for regulatory review, Vertex has established a sizable head start on any competition.
Even so, Latigo claims there’s room to improve on its larger rival’s treatment.
“When a new category opens up like this, somebody makes a first-in-class molecule. Occasionally, that’s the best-in-class, but most of the time something else comes along that is more refined,” said Harper. “So we’re really focused on the differentiation that we can bring to the table.”
Latigo’s lead drug, dubbed LTG-001, is currently in a Phase 1 study. The company is preparing to advance it into a mid-stage trial in acute pain, such as after bunion or stomach surgeries. Testing in chronic pain is also part of the plan, said Desmond Padhi, interim CEO and an operating partner at Westlake.
According to Padhi, preclinical data has shown LTG-001 to be highly selective for NaV1.8, avoiding penetration into the brain and the side effects that would go with it. He also noted early safety data suggesting Latigo could explore a wide range of doses.
Selectivity was also prioritized by Vertex’s chemists, who crafted a molecule that’s at least 30,000 times more selective for NaV1.8 than eight other sodium channels. The Massachusetts company is working on successor molecules, too.
Harper describes such selectivity for NaV1.8 as “table stakes” for companies who, like Latigo, hope to follow Vertex. Still, he noted questions that remain unanswered, such as whether the several hours it took for Vertex’s compound to provide relief in testing reflect the Nav1.8 approach or the drug.
“We think it’s possible that could be a molecule attribute,” said Harper. “We think it’s possible that you could get a faster onset with a different molecule, along with perhaps more efficacy by being able to push dose safely in the chronic setting.”
Latigo, which currently has 26 employees, has to prove that in testing. But investor interest is high, said board chair and Neuron23 CEO Nancy Stagliano, giving Latigo options for further fundraising.
“I do think the potential here is to raise capital via a number of vehicles,” said Stagliano. “It’s now going to be a question of what the company views as the best situation.”
A more immediate priority is finding a permanent CEO to take over for Padhi, who still has his job at Westlake. Latigo is looking for a candidate who has both private and public company experience, according to Stagliano.
In addition to Westlake, 5AM Ventures, Foresite Capital and Corner Ventures also invested in Latigo’s Series A.
