Intarcia Therapeutics, Inc.
TypePrivate
Industrypharmaceutical industry
FoundedHayward, California, United States (1995 (1995))
Headquarters
Boston, MA
,
United States
Key people
  • Kurt C. Graves (Chairman, President and CEO)
ProductsMedici Drug Delivery System
Websiteintarcia.com

Intarcia Therapeutics is an American biopharmaceutical company based in Boston, MA and incorporated under the laws of Delaware.[1][2] It was founded in 1995 under the name "BioMedicines" and changed to its present name in 2004.[1] In 2013, Intarcia relocated its headquarters to Boston, keeping its manufacturing facility in Hayward, CA. In addition to Boston and Hayward, Intarcia also has a location in Research Triangle Park, North Carolina, where it discovers and develops peptides for its drug delivery system.[3]

In 2005, the executive leadership of Intarcia was largely vested in two people, Karling Leung and James Ahlers, President/CEO/Director and Vice President/CFO/Finance & Operations Officer, respectively.[4] By 2012, Kurt Graves had replaced Karling Leung as President and CEO.[5] Kurt Graves has been with Intarcia since August 2010, first serving as Executive Chairman before becoming President and CEO in April 2012.[6]

As of 2016, Intarcia is engaged in development of a "potential once-a-year type 2 diabetes treatment". Referred to as ITCA 650, the therapeutic consists of exenatide delivered via its Medici Drug Delivery System,[7] "a drug delivery platform that stabilizes and delivers therapeutic proteins and peptides".[1] The drug was rejected for FDA approval in 2017 and 2020.[8]

Investors

In November 2012, Intarcia received $210M in preferred stock and debt financing from, The Baupost Group, Farallon Capital Management, New Enterprise Associates, New Leaf Venture Partners and Venrock Associates.[9] Other Investors include Greenspring Associates,[10] Alta Partners and Granite Venture Partners.

In April 2014, Intarcia secured an additional $200M in financing. RA Capital led the round and was joined by new and existing investors.[3] In April 2015, the company raised $225M in exchange for 1.5% of future global net sales of ITCA 650.[11] In May 2016, Intarcia secured an additional $75M in financing to scale-up manufacturing and inventory in anticipation of ITCA 650s global launch.[12] In September 2016, Intarcia raised an additional $215M in equity financing to prepare for the commercial launch of ITCA 650 in late 2017 and additional pipeline programs.[13]

Notes

  1. 1 2 3 "Company Overview of Intarcia Therapeutics, Inc.", Bloomberg Businessweek, archived from the original on January 18, 2013, retrieved November 15, 2012
  2. ↑ Exhibit 4.1, SEC, retrieved November 15, 2012
  3. 1 2 "Investors pump $200M into Intarcia's PhIII for once-yearly diabetes therapy". www.fiercebiotech.com. April 2014.
  4. ↑ "INTARCIA THERAPEUTICS, INC.", AMENDMENT NO. 1 TO FORM S-1, SEC, March 18, 2005, retrieved November 15, 2012
  5. ↑ Ron Leuty (November 15, 2012), "Intarcia raises $210M as it pushes once-a-year diabetes treatment into Phase III, moves HQ to Boston area", San Francisco Business Times, retrieved November 15, 2012
  6. ↑ "Stocks". Bloomberg.com.
  7. ↑ "Study of ITCA 650 (Exenatide in DUROS) in Subjects With Type 2 Diabetes Mellitus", ClinicalTrials.gov, May 1, 2012, retrieved November 15, 2012
  8. ↑ "Intarcia's diabetes drug implant ITCA 650 receives second FDA rejection". 27 March 2020.
  9. ↑ "AtTaIntarcia raises $210M as it pushes once-a-year diabetes treatment into Phase III, moves HQ to Boston area". BizJournals. November 15, 2012. Retrieved November 7, 2013.
  10. ↑ "Direct Investments". Greenspring Associates. November 7, 2013. Retrieved November 7, 2013.
  11. ↑ Winslow, Ron (April 28, 2015). "Startup Intarcia Raises $225 Million". Wall Street Journal – via www.wsj.com.
  12. ↑ "Intarcia raises $75M, touts final data as it preps to launch once-yearly diabetes drug implant". www.fiercebiotech.com. 9 May 2016.
  13. ↑ "Diabetes 'Unicorn' Raises Final VC Round Before IPO". Fortune.


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