Pharma bro David Shaw | Financial Times

Alexandra Skags, Alexandra Skags, pointed out to us a fascinating thing about news Which came out on Monday, when everyone’s attention was on the market turmoil.

NEW YORK, JUNE 13, 2022 / PRNewswire / – DE Shaw Research (DESRES) announced today that it has signed an exclusive global licensing agreement with Eli Lilly and Lilly for the clinical and commercialization of DESRES’s program of Kv1.3-Targeted Treatments for Immunological Diseases And various inflammations.

DE Shaw Research Is the full-time hobby of David Elliott Shaw, the founder of the Quantitative hedging fund of $ 60 billion Which also bears his name. In the early 2000s the former professor of computer science at Columbia University moved away from DE Shaw to establish DE Shaw Research and inject his fortune into computational biology.

It remains slightly involved, but the hedge fund is currently managed by a A six-member executive committee (A rather rare example in the money management industry of a successful leadership transition).

Shaw’s efforts now seem to be bearing fruit. The leading compound of the licensed drug – Shashu modestly called it DES-7114 – was raised by several distinctly quantitative techniques.

The design of DES-7114 by DESRES was made possible by the use of unique supercomputers for special purposes that DESRES developed and built to perform ultra-fast and atomically detailed simulations of the three-dimensional motion of biologically and pharmaceutically significant molecules. A series of such simulations, combined with experimental studies, led to DESRES ‘unique understanding of the structural, dynamic, and functional properties of Kv1.3, leading to the design of compounds that bind strongly to the target protein while apparently avoiding unwanted interactions with another ion. Channels.

Quantum has turned their skills into medical challenges with some success in the past. In 2016, two former Quantum with Crabel Capital Management in Los Angeles and Two Sigma in New York teamed up to create An algorithm that diagnosed heart disease From MRI images,

But it was only for a Kegel Data Science Competition. Eli Lily will pay DE Shaw Research an initial $ 60 million for the license, which could rise to $ 475 million through development fees and various milestones, plus royalties on all sales worldwide.

For Shaw, it’s a jump change. He is still the largest owner of DE Shaw (former Google CEO Eric Schmidt owns 20%, which he acquired from the Lehman Brothers estate), which The fourth highest hedge fund in historyHaving brought in $ 43.7 billion to investors since its inception in 1988.

This is a message to Shaw A. $ 7.5 billion personal capital, According to Forbes estimates. ProPublica and New York Magazine Reporting In 2019 Shaw donated $ 37.3 million to Harvard, Yale, Princeton, Stanford, Columbia, Brown and MIT between 2011 and 2017 just to ensure their children have the choice of elite universities.

But for Shaw the thrill of seeing DE Research finally develop something concrete and valuable – the compound given orally has been proven in initial experiments to be effective against a number of chronic and autoimmune inflammatory diseases like Crohn’s – probably more important than any monetary reward.

Here is what DE Research’s Chief Scientist said in a statement:

“We are excited about the potential of DES-7114, and hope that it will ultimately have a significant impact on the lives of patients around the world,” said David A. Shaw, Ph.D., Chief Scientist at DESRES. “We are also excited about the collaboration with Lily, which is one of the world leaders in the treatment of immunological diseases, and is exceptionally positioned to carry the compound forward through clinical development and commercialization.”

for further reading:

DE Shaw: Inside the Manhattan Silicon Valley hedge fund – FT
DE Shaw: The first large quantitative hedge fund New York Magazine

Pharma bro David Shaw | Financial Times Source link Pharma bro David Shaw | Financial Times

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