Vicore QA
Carl-Johan Dalsgaard, CEO of Vicore Pharma
Q1: You have been the CEO of Vicore since 2018 and been CEO of several other HealthCap portfolio companies since 2000. How has your 20+ years’ experience influenced your leadership of Vicore?
Whether it is from work or private life, where you are today is really an accumulation of experiences over time. I have a strong background in science and drug development, and since joining HealthCap as Venture Partner in the year 2000 I’ve soaked up a lot of experience from the financial and business side. Compared to 20 years ago I certainly understand a bit more about how investors think. Using all of these skills is key to helping Vicore reach its potential.
Q2: Vicore is dedicated to fighting severe lung diseases, such as idiopathic pulmonary fibrosis (IPF). What puts Vicore in a unique position when you consider other rival medications?
Vicore is in a unique position because it’s targeting a completely new biology focusing on regeneration and restoring function in the lungs. IPF is an aging disease, and our approach works by stimulating alveoli – a different mode of action. The total biology and how well it fits into IPF is the most exciting and on top of that we have outstanding data in the Phase 2a study that we are doing now. We have an opportunity to really make a difference for all of those suffering from IPF.
Q3: How common is IPF and how does the market and competition look in this area?
It is a rare disease, but it’s a pretty large, rare disease impacting about 250,000 people in the Western world. It is slowly increasing as diagnostics improve, especially in countries like China, India and Japan. The classic patient is a 67-year-old man. IPF is a disease where you have three to five years to survive – it’s basically a death sentence where you slowly suffocate to death.
Today there are two drugs on the market that slow down the speed by with you deteriorate, but they come at a high price of difficult gastrointestinal side effects. About one third of those suffering just stop taking medication. So, there is a huge medical need. The total market potential is around $6 billion.
Q4: Your lead program VP01, with the C21 drug candidate, has received Orphan Drug Designation in IPF from both the FDA and EMA, and is now being evaluated in a clinical Phase 2 trial. What’s the status with VP01 and what is the next step in the development?
We are about to complete the Phase 2a study. We’ve conducted an interim analysis and that is why we can say that we have such unprecedented data so far. Vicore has already started planning for the next step, which is a double blind and placebo controlled Phase 2b trial including two doses. We should see final data for the Phase 2a study by the end of the year, but we also said we will do another interim analysis around June, and by that time I’m pretty sure what the data will look like.
Q5: Vicore was originally funded by venture capital and have had several investments from institutional investors during the years, most recently in December where you raised 200 MSEK in a directed issue from both existing and new shareholders such as HealthCap VII fund. How do you intend to use the proceeds from the issue and what key milestones can we expect to see from Vicore in the short to midterm?
The main use is to complete the Phase 2a with the C21 drug candidate, which has had slower recruitment than expected due to COVID but is still progressing. We will also make all the preparations for the next larger trial in the VP01 program. If data in this next trial looks as good as it does so far in the Phase 2a, and there is still nothing else out there like today, then we should have the courage to go for an early approval or a conditional approval. So, we need to power our next study accordingly.
We are also advancing a digital therapy that will help us get in contact with patients to help them with the anxiety that follows a diagnosis of IPF. Such an app will help ensure we are a caring, holistic company. We are also working on new molecules for different indications such as pulmonary hypertension, which is related to IPF. To our knowledge, there is no drug on the market that can stimulate the endothelium as our C21 candidate drug does. Vicore has a lot of opportunities ahead of it.
