Just an interesting note on Aclaris. I've tried to learn a bit more about them. They're essentially from what I can tell a pretty new startup, and their patents on the use of JAK inhibitors topically for hair is one of the major things they have their future pinned on. They only have one product ready for market at the present which is a hydrogen peroxide treatment pen for skin blemishes coming out next month.
However, they acquired the rights to topical JAK inhibitors in 2015 & 2017, for hair loss and other skin conditions, and so now they have a lot riding on that. If the topical JAK inhibitors succeed they will be rich beyond imagination. If they fail, well I guess their investors will have considered it a good gamble.
Here's what I can't figure out:
How does a company with literally ONE finished product that hasn't even been released to market have $300+ million valuation and the capacity to buy out other companies for rights to these topical JAK inhibitors?
They were founded in 2012. They went public in 2015 after getting some topical JAK patents (when they didn't even have a single product to offer). Their first product will be released next month for blemishes, with likely a small market reach expected for it.
Where the f*** is this coming from? I feel like I'm missing something. I don't have a lot of time to read all the documents on their history (
here), but from what I gather this is a company built by people with deep financial connections within the pharma/biotech sector almost solely around making a concerted gamble that topical JAK inhibitors will be a game changer for conditions like psoriasis and maybe even hair loss.
Their primary "asset" at the present from what I can tell are their patents for JAK inhibitors for topical use that they have been acquiring since 2015, and that seems to be the only factor that has led to them being valued in the hundreds of millions.
Here's their
pipeline:
This is their director, and a bit about his "friends":
Neal Walker co-founded our company and has served as President and Chief Executive Officer and a member of our Board since our inception in July 2012. Dr. Walker co-founded NeXeption, LLC, a biopharmaceutical assets management company, in August 2012. Between July 2011 and July 2012, Dr. Walker served as a consultant to a number of pharmaceutical companies. Dr. Walker co-founded and served as President and Chief Executive Officer and a member of the board of directors of Vicept Therapeutics, Inc., a dermatology-focused specialty pharmaceutical company, from 2009 until its acquisition by Allergan, Inc. in July 2011. Previously, Dr. Walker co-founded and led a number of life science companies, including Octagon Research Solutions, Inc., a software and services provider to biopharmaceutical companies (acquired by Accenture plc), Trigenesis Therapeutics, Inc., a specialty dermatology company, where he served as Chief Medical Officer (acquired by Dr. Reddy's Laboratories Inc.), and Cutix Inc., a commercial dermatology company. He began his pharmaceutical industry career at Johnson and Johnson, Inc. Dr. Walker is a director of Alderya Therapeutics, Inc, a publicly held biotechnology company, as well as several private biotechnology companies.
The bios for their whole board of directors reads like this.