Prometheus Biosciences Announces FDA Acceptance of IND Application for PRA023 and Commences Dosing in Phase 1a Clinical Study

 – PRA023 is a TL1A antibody targeting both inflammation and fibrosis in patients with ulcerative colitis and Crohn’s disease –

 – PRA023 is being developed to be used in combination with a companion diagnostic to identify responders in novel precision medicine approach –

SAN DIEGO, December 15, 2020 /PRNewswire/ —  Prometheus Biosciences, Inc. (“Prometheus”), a biotechnology company pioneering a precision medicine approach for the discovery, development, and commercialization of novel therapeutic and companion diagnostic products for the diagnosis and treatment of inflammatory bowel disease (IBD), today announced FDA acceptance of its Investigational New Drug Application (IND) for PRA023 and that dosing has commenced in a Phase 1a clinical study in normal healthy volunteers. PRA023, the company’s lead product candidate, is a humanized IgG1 monoclonal antibody (mAb) that has been shown to block tumor necrosis factor (TNF)-like ligand 1A (TL1A).  TL1A is a validated clinical target that is being developed for the treatment of the two most common forms of IBD, ulcerative colitis (UC) and Crohn’s disease (CD).  Prometheus recently completed a $130M financing to advance novel precision medicine approaches in IBD. 

“PRA023 is a novel precision therapy approach for the treatment of IBD and we are pleased to initiate dosing in this clinical study,” said Mark McKenna, President and CEO of Prometheus.  “Importantly, TL1A is the only therapeutic target in development that targets both inflammation and fibrosis, which represents the biggest unmet medical need in IBD.” 

“Anti-TL1A therapy is a very promising mechanism for the treatment of IBD, and everyone has been waiting for companion diagnostic directed therapy that will allow us to treat the right patient with the right drug,” remarked Dr. William Sandborn, MD, Chief of Gastroenterology and Director of the IBD Center at the University of California San Diego.     

Study PR200-101 is a Phase 1a, single and multi-dose, randomized, double-blind, placebo-controlled study to determine the safety, tolerability, pharmacokinetics, and pharmacodynamics of PRA023 in healthy volunteers.

About PRA023, an Anti-TL1A mAb

PRA023 is an IgG1 humanized mAb that has been shown to block TL1A. Third-party antibody programs against TL1A have been shown to reduce both intestinal inflammation and fibrosis in preclinical studies, and this target has been clinically-validated in a third-party Phase 2a clinical trial in UC. PRA023 binds both soluble and membrane-associated human TL1A with high affinity and specificity and has the potential to substantially improve outcomes for moderate-to-severe IBD patients.   Prometheus is developing PRA023 for the two most common forms of IBD, ulcerative colitis (UC) and Crohn’s disease (CD).

About Inflammatory Bowel Disease (IBD)

IBD is a complex disease with many contributing factors, including genetic, environmental and immunologic, and is estimated to affect over 2,000,000 people in the United States and over 5,000,000 people globally. UC and CD are two of the most common forms of IBD. Both UC and CD are chronic, relapsing, remitting, inflammatory conditions of the GI tract that begin most commonly during adolescence and young adulthood. UC involves the innermost lining of the large intestine, and symptoms include abdominal pain and diarrhea, frequently with blood and mucus. CD can affect the entire thickness of the bowel wall and all parts of the GI tract from mouth to anus. CD symptoms include abdominal pain, diarrhea, and other more systemic symptoms such as weight loss, nutritional deficiencies, and fever.

The current standard of care for the treatment of patients with moderate-to-severe IBD is typically anti-inflammatory agents; however, none of these therapies address fibrosis, or scarring, in IBD. Since the approval of the first anti-TNF agent for the treatment of CD in 1998, the availability of JAK inhibitors and newer biological agents, including anti-integrin and anti-IL12/23, has improved the care of moderate-to-severe IBD (JAK inhibitors in UC only). However, these subsequently approved therapies have generally failed to demonstrate a clinical remission effect size of more than 15% relative to placebo. Moreover, among those patients who do respond to therapy, up to 45% will lose response over time. Current therapies used for the treatment of UC and CD apply a one-size-fits-all approach without regard to biologic variations amongst patients, and substantial unmet need remains. 

About Prometheus Biosciences, Inc.

Prometheus Biosciences, Inc. is a privately held biotechnology company pioneering a precision medicine approach for the discovery, development, and commercialization of novel therapeutic and companion diagnostic products for the treatment and diagnosis of IBD. The company’s precision medicine platform, Prometheus360, combines proprietary bioinformatics discovery methods with one of the world’s largest gastrointestinal bioinformatics databases to identify novel therapeutic targets and develop therapeutic candidates to engage those targets. Prometheus is guided by its board of directors, led by Chairman Tachi Yamada, M.D., and a scientific advisory board composed of key opinion leaders in IBD, including Stephan Targan, M.D., William Sandborn, M.D. and Dermot P. McGovern, M.D., Ph.D.  In addition, Prometheus has entered into collaborations to develop targeted therapies for IBD.

Prometheus maintains its headquarters in San Diego, CA.  For more information about Prometheus, please visit  www.prometheusbiosciences.com.

Contacts:

Investor Relations and Media Contact
Juniper Point
Amy Conrad, (858) 914-1962
IR@prometheusbiosciences.com

Prometheus Biosciences Announces $130 Million Financing to Advance Precision Medicines for the Treatment of Inflammatory Bowel Disease

New investors include Eventide, RTW, Perceptive Advisors, Cowen Healthcare Investments, Cormorant Capital, and Point72

-Proceeds to accelerate clinical development of PRA023, a potential best in class TL1A antibody for IBD, and expansion of Prometheus’ 360 platform –

SAN DIEGO, November 9, 2020 /PRNewswire/ —  Prometheus Biosciences, Inc. (“Prometheus”), a biotechnology company pioneering a precision medicine approach to the discovery, development, and commercialization of novel therapeutic and companion diagnostic products for the diagnosis and treatment of inflammatory bowel disease (IBD), today announced the completion of a $130 million equity financing led by Eventide Asset Management and RTW Investments, LP.  Additional new investors include Perceptive Advisors, Cowen Healthcare Investments, Cormorant Capital, Point72 Asset Management and Irving Investors, with participation from existing investors Ascend Global Investment Fund, Cedars-Sinai Medical Center and Nestlé SA.  In connection with the financing, Joy Ghosh, Ph.D. of Eventide Asset Management and Adam Stone of Perceptive Advisors will be joining the Prometheus Board of Directors. 

“We are pleased to have the support of such outstanding investors who share our dedication and vision to build the world’s leading precision medicine company for IBD,” said Mark McKenna, President and CEO of Prometheus.  “We are now well-positioned to advance the clinical development of our lead antibody program targeting TL1A-associated IBD and grow our emerging pipeline of precision medicine programs designed to deliver life-changing outcomes for patients.”

“The IBD treatment landscape has seen limited innovation to date despite an enormous effort to unlock benefit from traditional therapeutic approaches. Prometheus has the potential to disrupt the space with its precision medicine approach as well as its genotype-phenotype Prometheus 360 drug discovery platform designed to create novel IBD medicines to benefit patients,” said Joy Ghosh, Ph.D. of Eventide Asset Management.

About Prometheus Biosciences, Inc.

Prometheus Biosciences, Inc. is a privately held biotechnology company pioneering a precision medicine approach to the discovery, development, and commercialization of novel therapeutic and companion diagnostic products for the treatment and diagnosis of IBD. The company’s precision medicine platform, Prometheus 360, combines proprietary bioinformatics discovery methods with one of the world’s largest gastrointestinal bioinformatics databases to identify novel therapeutic targets and develop therapeutic candidates to engage those targets. Prometheus is guided by its board of directors, led by Chairman Tachi Yamada, M.D., and a scientific advisory board composed of key opinion leaders in IBD, including Stephan Targan, M.D., William Sandborn, M.D. and Dermot P. McGovern, M.D., Ph.D.  In addition, Prometheus has entered into collaborations to develop targeted therapies for IBD.

Prometheus maintains its headquarters in San Diego, CA.  For more information about Prometheus, please visit  www.prometheusbiosciences.com.

Contacts:

Investor Relations and Media Contact
Juniper Point
Amy Conrad, (858) 914-1962
IR@prometheusbiosciences.com

Prometheus Biosciences Appoints Olivier Laurent, Ph.D. as Chief Technology Officer

SAN DIEGO, September 29, 2020 /PRNewswire/ — Prometheus Biosciences, Inc., (“Prometheus”) a biotechnology company pioneering a precision medicine approach to the discovery, development, and commercialization of novel therapeutic and companion diagnostic products for the treatment and diagnosis of inflammatory bowel disease (IBD), announced today the appointment of Olivier Laurent, Ph.D. as Chief Technology Officer.  In his new role, Dr. Laurent will serve on the executive management team and will lead the company’s early stage discovery initiatives.

“Dr. Laurent’s success in designing and developing biopharmaceuticals products across multiple therapeutic areas, including recombinant proteins and antibodies, is well aligned with our needs as we grow our GI medicines pipeline and our business,” said Mark McKenna, President and Chief Executive Officer, Prometheus Biosciences.  

Dr. Laurent commented, “Prometheus is a remarkably innovative company, leading the application and advancement of precision medicine to address major unmet medical needs in GI diseases.  I’m excited to join the company during this critical time period, and I look forward to helping broaden Prometheus’ portfolio of programs.”

Prior to joining Prometheus, Dr. Laurent most recently served as Chief Scientific Officer at Intrepida Bio, an immuno-oncology company focused on developing novel antibodies for the treatment of solid tumors.  Prior to this position, Dr. Laurent spent twenty years designing and developing biopharmaceuticals at companies including Sanofi, Bayer HealthCare, Genentech, Pfizer, CovX (acquired by Pfizer in 2008) and Ambrx (acquired by a Chinese consortium in 2015). Dr. Laurent holds numerous patents in the field of biotherapeutics and has contributed to multiple antibody regulatory dossiers. Dr. Laurent holds a Ph.D. in Cell Biology from the University of Grenoble in France and is an alumnus of the École Normale Supérieure de Lyon.

About Prometheus Biosciences, Inc.

Prometheus Biosciences, Inc. is a privately held biotechnology company pioneering a precision medicine approach to the discovery, development, and commercialization of novel therapeutic and companion diagnostic products for the treatment and diagnosis of IBD. The company’s precision medicine platform, Prometheus 360, combines proprietary bioinformatics discovery methods with one of the world’s largest gastrointestinal bioinformatics databases to identify novel therapeutic targets and develop therapeutic candidates to engage those targets.  Leveraging its expertise in the field and cutting-edge technologies, Prometheus has formed key partnerships to develop targeted therapies for IBD. 

Prometheus maintains its headquarters in San Diego, CA.  For more information about Prometheus, please visit  www.prometheusbiosciences.com.

Contact:

Investor Relations and Media Contact
Juniper Point
Amy Conrad
(858) 914-1962
amy@juniper-point.com

Prometheus Biosciences Appoints Joseph C. Papa to its Board of Directors

SAN DIEGO, Aug. 25, 2020 /PRNewswire/ — Prometheus Biosciences, Inc., (“Prometheus”) a biopharmaceutical company committed to the discovery, development, and commercialization of a broad portfolio of novel precision therapeutics and companion diagnostics for patients living with Inflammatory Bowel Disease (IBD), announced today the appointment of Joseph C. Papa to its Board of Directors.  Mr. Papa brings more than three decades of leadership and operations experience in healthcare to Prometheus.  He currently serves as the Chairman and Chief Executive Officer of Bausch Health, a global healthcare company based in Bridgewater, New Jersey.

“Joe is a recognized luminary in the healthcare and specialty pharmaceutical industries and we feel privileged that he will join us as we continue to build a world-leading IBD company,” said Mark McKenna, President and Chief Executive Officer, Prometheus Biosciences.  “His success in leading pharmaceutical companies through key phases of growth and developing product pipelines and platforms enhances our Board and we look forward to his guidance.”

Mr. Papa commented, “The science and team at Prometheus are very impressive and I am excited to join the Board of Directors at this critical time in the company’s evolution.  I believe that Prometheus is uniquely positioned to transform the IBD treatment landscape with its technology and approach and I look forward to collaborating with Mark and the broader team to drive value for patients.”

Mr. Papa has more than 35 years of experience in the pharmaceutical, healthcare services and specialty pharmaceutical industries, including 20 years of branded prescription drug experience.  Mr. Papa currently serves as Chairman and Chief Executive Officer of Bausch Health, a recognized global healthcare company.  Prior to Bausch Health, Mr. Papa was Chief Executive Officer and Chairman of the Board of Directors of Perrigo, a self-care products company, where he grew the company into a global leader with annual net sales of more than $5 billion.  Prior to Perrigo, Mr. Papa served as Chairman and Chief Executive Officer of the Pharmaceutical and Technologies Services segment of Cardinal Health, Inc., President and Chief Operating Officer of Watson Pharmaceuticals, President of Global Country Operations for Pharmacia’s North American business and President of Searle’s U.S. Operations. Prior to Searle/Pharmacia, Mr. Papa served in a variety of general management, sales, marketing and research and development positions during his 15-year career at Novartis Pharmaceuticals.  During his pharmaceutical industry career, he led teams that successfully launched several blockbuster pharmaceutical products including Lotrel, Diovan and Celebrex, and is the patent holder for a cardiovascular combination treatment containing Amlodipine and Benazepril.  In October 2014, Harvard Business Review ranked Mr. Papa 47th on its “2014 Best Performing CEOs in the World.”

Mr. Papa holds a BS in pharmacy from the University of Connecticut and an MBA from Northwestern University’s Kellogg Graduate School of Management. In 2012, he received an Honorary Doctor of Science degree from the University of Connecticut School of Pharmacy.

About Prometheus Biosciences, Inc.

Prometheus Biosciences, Inc. is a privately-held biopharmaceutical company focused on the discovery, development, and commercialization of novel precision therapeutics and companion diagnostics for patients living with Inflammatory Bowel Disease (IBD). The company’s precision medicines platform, Prometheus 360, combines proprietary bioinformatics discovery methods with companion diagnostics and has generated a large pipeline of therapeutics in development for the treatment of IBD.  Due to its expertise in the field and cutting-edge technologies, Prometheus has formed several partnerships to develop targeted therapies for IBD. 

Prometheus maintains its headquarters in San Diego, CA.  For more information about Prometheus, please visit  www.prometheusbiosciences.com.

Contact:

Investor Relations and Media Contact
Juniper Point
Amy Conrad
(858) 914-1962
amy@juniper-point.com 

Prometheus Biosciences and Dr. Falk Pharma GmbH Announce Global Collaboration Agreement to Develop and Commercialize a Novel IBD Antibody

-Prometheus to receive an upfront payment and payments upon achievement of several milestones expected within the next 12 months

-Falk to pay 25% of global development costs of IBD program-

-Falk to leverage the Prometheus 360™ platform to create next-generation IBD precision medicines-


SAN DIEGO and FREIBURG, Germany, Aug. 13, 2020 /PRNewswire/ — Prometheus Biosciences, Inc., (“Prometheus”) a biopharmaceutical company committed to the discovery, development, and commercialization of a broad portfolio of novel precision therapeutics and companion diagnostics for patients living with significant unmet medical needs in inflammatory bowel disease, and Dr. Falk Pharma GmbH (“Falk”) announced today that they have entered into an agreement to develop and commercialize PR600, Prometheus’ cell signaling program that targets a receptor of the tumor-necrosis factor superfamily for the treatment of IBD.  PR600 was discovered through Prometheus’ proprietary precision medicines platform, Prometheus 360™, and is currently in preclinical development.  

Under the terms of the agreement, Prometheus and Falk will share responsibility for the global development of PR600, with Falk contributing one-quarter of the costs associated with developing PR600 and its companion diagnostic from preclinical stage through commercial launch. Falk will exclusively commercialize PR600 in Europe, Australia and New Zealand, and Prometheus is eligible to receive royalty payments on those sales; Prometheus retains all commercialization rights in the U.S. and rest of world.   

“Dr. Falk Pharma GmbH is a recognized global leader in developing and commercializing GI drugs and we are thrilled to partner with them to advance PR600 toward the clinic and eventually to patients,” said Mark McKenna, President and Chief Executive Officer, Prometheus Biosciences. “This global partnership represents further validation of our Prometheus 360™ precision platform and enables Prometheus to potentially bring benefit to IBD patients across the globe, while building significant value for our stakeholders. We have great respect for Falk and their development and commercialization expertise and we look forward to working closely with them to execute on our shared vision for PR600.”

“We believe that one of the best uses of our resources is to invest in cutting-edge science and companies that will significantly change the IBD medicines treatment landscape. This global collaboration combines Prometheus’ emerging IBD medicines platform technology with Falk’s extensive development and commercialization expertise,” said Roland Greinwald, Managing Director Medicine & Pharmaceutics, Dr. Falk Pharma GmbH.  “We look forward to working with Prometheus to advance PR600, a novel precision antibody, for the treatment of patients suffering with IBD.”

Under the terms of the agreement, Prometheus Biosciences will receive an undisclosed initial upfront payment from Falk and is eligible to receive further payments in the first year upon achievement of certain development program milestones. Prometheus anticipates that the company will file an Investigational New Drug Application with the U.S. Food and Drug Administration by the end of 2022.

About Dr. Falk Pharma GmbH

Dr. Falk Pharma GmbH specializes in the development and marketing of pharmaceuticals used in hepatology and gastroenterology. Falk is one of the leading European companies in the field marketing its products by means of subsidiaries in selected countries and a network of sales partners. Further, the Falk Foundation, an independent organization associated with Dr. Falk Pharma, is well-known for its international symposia, forums and educational literature supporting medical doctors, patients and their families.

About Prometheus Biosciences, Inc.

Prometheus Biosciences, Inc. is a privately-held biopharmaceutical company focused on the discovery, development, and commercialization of novel precision therapeutics and companion diagnostics for patients living with significant unmet medical needs in inflammatory bowel disease. The company’s precision medicines platform, Prometheus 360™, combines proprietary bioinformatics discovery methods and companion diagnostic tools and has generated a large pipeline of therapeutics in development for the treatment of IBD.  

Prometheus maintains its headquarters in San Diego, CA.  For more information about Prometheus, please visit  www.prometheusbiosciences.com.

Contacts:

Investor Relations and Media Contact
Juniper Point
Amy Conrad, (858) 914-1962
amy@juniper-point.com

Prometheus Biosciences Appoints Keith W. Marshall as Chief Financial Officer

Prometheus Biosciences Appoints Keith W. Marshall as Chief Financial Officer


SAN DIEGO, August 4, 2020 /PRNewswire/ — Prometheus Biosciences, Inc., (“Prometheus”) a biopharmaceutical company committed to the discovery, development, and commercialization of a broad portfolio of novel precision therapeutics and companion diagnostics for patients living with Inflammatory Bowel Disease (IBD), announced today the appointment of Keith Marshall, Ph.D., MBA as Chief Financial Officer.  Mr. Marshall will serve on the executive management team and will lead the company’s finance and investor relations functions. 

“Keith is a highly accomplished executive with extensive experience across healthcare strategy, life sciences investment banking, and business development,” said Mark McKenna, President and Chief Executive Officer, Prometheus Biosciences. “His financial leadership experience and strong scientific acumen will add significant value to the company as we enter the next phase of Prometheus’ growth.”

Mr. Marshall commented, “Prometheus’ precision approach to developing novel therapies for GI diseases through its Prometheus 360 platform is truly unique.  The company’s strong leadership team, recognized founders and partners, and commitment and potential to transforming the IBD treatment paradigm make this a compelling opportunity.  I look forward to joining the team at this pivotal moment in Prometheus’ journey, and being a part of the company’s bright future.”

Prior to joining Prometheus, Mr. Marshall was Executive Vice President, Chief Operating Officer and Chief Financial Officer of Conatus Pharmaceuticals (Nasdaq: CNAT) since 2017.  Prior to Conatus, he served as Chief Financial Officer and Head of Corporate Development  at Torque Therapeutics (now Repertoire Immune Medicines), a Flagship Pioneering company.  Mr. Marshall also served as Managing Director in Healthcare Investment Banking at GCA Savvian Advisors, Managing Director, Co-founder, and Chief Financial Officer at Montgomery, Marshall Healthcare Partners, and Managing Director of Healthcare Investment Banking at Montgomery & Co. He began his career in investment banking at JP Morgan.

Mr. Marshall holds an MBA from the University of Chicago – Booth School of Business, a Ph.D. in Pharmaceutical Chemistry from the University of California, San Francisco and an A.B. in Biology from Washington University in St. Louis.

About Prometheus Biosciences, Inc.

Prometheus Biosciences, Inc. is a privately-held biopharmaceutical company focused on the discovery, development, and commercialization of novel precision therapeutics and companion diagnostics for patients living with Inflammatory Bowel Disease (IBD). The company’s precision medicines platform, Prometheus 360, combines proprietary bioinformatics discovery methods with companion diagnostics and has generated a large pipeline of therapeutics in development for the treatment of IBD.  Due to its expertise in the field and cutting-edge technologies, Prometheus has formed several partnerships to develop targeted therapies for inflammatory bowel disease. 

Prometheus maintains its headquarters in San Diego, CA.  For more information about Prometheus, please visit  www.prometheusbiosciences.com.

Contacts:

Investor Relations and Media Contact
Juniper Point
Amy Conrad, (858) 914-1962
amy@juniper-point.com

Prometheus Biosciences Appoints Dr. Thierry Dervieux as Chief Development Officer

Prometheus Biosciences Appoints Dr. Thierry Dervieux as Chief Development Officer


SAN DIEGO, Dec. 10, 2019 /PRNewswire/ —  Prometheus Biosciences, Inc., (“Prometheus”) a biopharmaceutical company committed to the discovery, development, and commercialization of a broad portfolio of novel precision therapeutics and companion diagnostics for patients living with unmet needs in gastroenterology (GI) and autoimmune diseases, announced today the appointment of Thierry Dervieux, PharmD, PhD, DABCC as chief development officer, diagnostics, and medical laboratory director.   

“Thierry’s deep expertise in the development of innovative diagnostic assays and drug monitoring tools will benefit us greatly as we continue to advance our novel precision medicine platform for GI and autoimmune conditions,” said Mark McKenna, chief executive officer of Prometheus Biosciences. “We are thrilled to welcome Thierry and we look forward to his contributions as we take Prometheus to the next level.”

Dr. Dervieux joins Prometheus Biosciences from Exagen Diagnostics, a diagnostic company focused on chronic autoimmune diseases, where he served as chief scientific officer and medical director. Prior to joining Exagen, Dr. Dervieux was vice president of research and development at Cypress Bioscience, Inc. and senior director of research and development with Proprius Pharmaceuticals, Inc. (acquired by Cypress Bioscience, Inc.). Prior to that, he served as principal scientist and director of research and development at Prometheus Laboratories. Dr. Dervieux is board certified by the American Board of Clinical Chemistry and holds certificates of qualification as medical laboratory director in the categories of cellular immunology, clinical chemistry, drug monitoring, genetic testing, and diagnostic immunology. Dr. Dervieux holds PharmD and PhD degrees from Claude Bernard University in Lyon, France, an inter-university diploma in biostatistics from Pierre and Marie Curie University in Paris, France, and trained at St. Jude Children’s Research Hospital in Memphis, Tennessee.

About Prometheus Biosciences, Inc.

Prometheus Biosciences, Inc., is a biopharmaceutical company committed to the discovery, development, and commercialization of a broad portfolio of novel precision therapeutics and companion diagnostics for patients living with unmet needs in gastroenterology and autoimmune diseases.

Prometheus Biosciences, Inc., created through the June 2019 acquisition of Prometheus Laboratories by Precision IBD, is headquartered in San Diego, California. For more information about Prometheus, please visit us at www.prometheusbiosciences.com.

Contacts:

Investor Relations and Media Contact
Juniper Point
Amy Conrad, (858) 914-1962
IR@prometheusbiosciences.com

Connor Glenn, (858) 200-7888
info@prometheusbiosciences.com

Prometheus Biosciences, Inc., Enters Into Multi-Target Strategic Collaboration with Takeda to Develop Targeted Therapies for Inflammatory Bowel Disease

Agreement Leverages Prometheus Biosciences’ Proprietary Bioinformatics Analysis Platform, Companion Diagnostics to Speed Development and Discovery

SAN DIEGO, Oct. 3, 2019 /PRNewswire/ —  Prometheus Biosciences, Inc., a biopharmaceutical company committed to the discovery, development, and commercialization of a broad portfolio of novel precision therapeutics and companion diagnostics for patients living with unmet needs in gastroenterology and autoimmune diseases, announced that it has entered into a global, multi-target strategic collaboration with Takeda Pharmaceutical Company Limited (Takeda) to discover, develop, and commercialize novel therapies for inflammatory bowel disease (IBD). The collaboration combines the proprietary bioinformatics discovery platform and companion diagnostic tools developed by Prometheus Biosciences with Takeda’s expertise in gastroenterology and drug development, in order to discover and advance up to three targeted IBD therapeutics and companion diagnostics.   

Prometheus Biosciences will be responsible for the identification and validation of three unique drug targets for IBD, along with the development and commercialization of companion diagnostics to complement the targeted drugs. Takeda will be responsible for all drug discovery, clinical development, and commercialization activities for the resulting targeted therapeutics. 

 “We are impressed with Takeda’s commitment to developing a portfolio of therapies to address all IBD patients, especially those with unmet needs,” said Mark McKenna, chief executive officer, Prometheus Biosciences.  “We believe that a targeted, precision medicine approach is needed to deliver new, effective therapeutic options in inflammatory bowel disease. Through our partnership, we are excited to combine the Prometheus bioinformatics platform and advanced machine learning techniques with Takeda’s expertise in drug development to deliver a new generation of IBD therapies.”

Under the terms of the agreement, Prometheus Biosciences will receive an undisclosed initial upfront payment from Takeda and is eligible to receive up to $420M in development, regulatory, and commercial milestone payments, in total, across all three programs. In addition, Prometheus Biosciences is eligible to receive royalty payments on global commercial sales from each program. 

About Prometheus Biosciences, Inc.

Prometheus Biosciences, Inc., is a biopharmaceutical company committed to the discovery, development, and commercialization of a broad portfolio of novel precision therapeutics and companion diagnostics for patients living with unmet needs in gastroenterology and autoimmune diseases.

Prometheus Biosciences, Inc., created through the June 2019 acquisition of Prometheus Laboratories by Precision IBD, is headquartered in San Diego, California. For more information about Prometheus, please visit us atwww.prometheusbiosciences.com.

Contacts:

Investor Relations and Media Contact
Juniper Point
Amy Conrad
(858) 914-1962
IR@prometheusbiosciences.com
 

Prometheus Biosciences
Connor Glenn
(858) 200-7888 
info@prometheusbiosciences.com

SOURCE Prometheus Biosciences, Inc.

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Prometheus Biosciences Strengthens Executive Management Team with New Appointments

SAN DIEGO, Oct. 28, 2019 /PRNewswire/ — Prometheus Biosciences, Inc., a biopharmaceutical company, announced today the appointments of Chris Slavinsky as general counsel and head of business development, and Mike Walther as chief commercial officer, to its executive management team. Prometheus Biosciences is committed to the discovery, development, and commercialization of a broad portfolio of novel precision therapeutics and companion diagnostics for patients living with unmet needs in gastroenterology and autoimmune diseases.

“We are excited to welcome Chris and Mike to the Prometheus Biosciences team, as they bring decades of legal, commercial, and transactional expertise in the gastroenterology field,” said Mark McKenna, chief executive officer of Prometheus Biosciences. “Their contributions will be critical as we advance our mission to revolutionize the development of diagnostics and therapeutics for gastroenterology.”

Mr. Slavinsky joins Prometheus Biosciences from Takeda, where he served as vice president of the Takeda Center for External Innovation, and head of Gastroenterology Business Development, Externalization and Special Projects. Prior to joining Takeda, Chris served in several key roles at Pfizer over a 17-year period, including chief counsel of several Pfizer business segments including business transactions, R&D, medical technologies, and anti-infectives. Mr. Slavinsky serves as a member of the board of directors of Phathom Pharmaceuticals and ARTham Therapeutics. Mr. Slavinsky received a J.D. from the Washington University in St. Louis School of Law, an M.S. in biochemistry and molecular biology from Thomas Jefferson University, and a B.S. in biochemistry from the State University of New York at Stony Brook.

Mike Walther joins Prometheus Biosciences from Aries Pharmaceuticals, where he last served as general manager, establishing corporate, pipeline, and portfolio strategies including the commercial launch of the company’s first 2 products. Mr. Walther’s industry experience spans numerous therapeutic markets, most notably a 25-year focus in pharmaceutical, medical device, and diagnostics product development and commercialization in gastroenterology. Prior to joining Aries, Mr. Walther was vice president, Commercial Development at Prometheus Laboratories Inc., where he was responsible for commercializing specialty therapeutics and proprietary diagnostic testing services designed to advance patient-personalized care, and previously held roles spanning sales, specialty marketing, and commercial operations at Takeda Pharmaceuticals North America and TAP Pharmaceuticals (a Takeda Pharmaceuticals and Abbott Laboratories partnership). Mr. Walther received his B.A. in biology from Ithaca College.

About Prometheus Biosciences, Inc.

Prometheus Biosciences, Inc., is a biopharmaceutical company committed to the discovery, development, and commercialization of a broad portfolio of novel precision therapeutics and companion diagnostics for patients living with unmet needs in gastroenterology and autoimmune diseases.

Prometheus Biosciences, Inc., created through the June 2019 acquisition of Prometheus Laboratories by Precision IBD, is headquartered in San Diego, California. For more information about Prometheus, please visit us at www.prometheusbiosciences.com.

Contacts:

Investor Relations and Media Contact
Juniper Point
Amy Conrad, (858) 914-1962
IR@prometheusbiosciences.com

Connor Glenn, (858) 200-7888
info@prometheusbiosciences.com

Precision IBD Announces Next Phase Of Growth: Appoints Mark C. McKenna As President And Chief Executive Officer, Completes Name Change To Prometheus Biosciences, Inc.

Company Plans to Complete Series C Financing in Fourth Quarter of 2019, Followed by Initial Public Offering for 2020

SAN DIEGO, Sept. 5, 2019 /PRNewswire/ — Precision IBD, Inc., a biopharmaceutical company focused on the discovery and development of a broad portfolio of precision therapeutics and companion diagnostics for inflammatory bowel disease (IBD), today announced the appointment of Mark C. McKenna as the company’s chief executive officer, and the completion of the company’s name change to Prometheus Biosciences, Inc. The announcements reflect the company’s strategic focus of applying precision medicine to develop targeted therapies for patients living with unmet needs in gastroenterology and autoimmune diseases.

Prometheus Biosciences will serve as the name for the combined companies Precision IBD and Prometheus Laboratories, Inc., created through the June 2019 acquisition of Prometheus Laboratories by Precision IBD.

Mr. McKenna succeeds Precision IBD’s current CEO Scott Glenn, who co-founded Precision IBD and over a dozen successful biotech companies. Glenn will continue to serve as an active member of the board and advisor to the new CEO.  

“We are grateful to Scott for his vision and drive to position Prometheus Biosciences as an emerging leader in the fast-changing healthcare industry. We look forward to his continued contributions to the company as a valued member of the board,” said Dr. Tadataka (Tachi) Yamada, chairman of the board. “The board and I welcome Mark as the new CEO and are confident that he is the right person to lead our company into its next phase of growth.”

“I am incredibly excited to assume this new role, and for the future of Prometheus Biosciences. We have a world-class company that allows for precise therapeutic drug discovery, top-notch clinical and healthcare strategists on our board of directors’ team, and a robust GI pipeline of diagnostic and therapeutic drugs,” said Mark McKenna, chief executive officer, Prometheus Biosciences. “The new name leverages our heritage as the preeminent GI diagnostic company, as well as signals the broader vision to rapidly expand our innovative therapeutic business through ongoing development programs and licensing and acquisition of marketed therapeutic assets.”

Mr. McKenna will join Prometheus Biosciences from Salix Pharmaceuticals, one of the largest specialty pharmaceutical companies in the world committed to the prevention and treatment of gastrointestinal diseases. During his tenure as president at Salix, Mr. McKenna successfully led the company through a series of key strategic acquisitions, the launch of a number of new products, and delivered strong operating performance.

Prior to joining Salix, Mr. McKenna spent more than a decade in leadership roles with Bausch + Lomb, where the team successfully reversed seven years of declining sales, revitalized the product pipeline, and increased market share. 

About Prometheus Biosciences, Inc.

Prometheus Biosciences, Inc., is a biopharmaceutical company committed to the discovery, development, and commercialization of a broad portfolio of novel precision therapeutics and companion diagnostics for patients living with unmet needs in gastroenterology and autoimmune diseases.

Prometheus Biosciences, Inc., is headquartered in San Diego, California. For more information about Prometheus, please visit us at www.prometheusbiosciences.com.

Media Contact:
Katja Bogle, (858) 587-4149
pr@prometheusbiosciences.com

Connor Glenn, (858) 200-7888
info@prometheusbiosciences.com

SOURCE Prometheus Biosciences, Inc.

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www.prometheusbiosciences.com