Intarcia Therapeutics is a rapidly emerging biopharmaceutical company developing innovative therapies that merge medicine with technology, and have the potential to transform therapeutic categories. In the near term, Intarcia Therapeutics is focused on Type 2 Diabetes (T2D), which we believe is one of the largest public health threats facing the U.S. over the next decade, and existing treatment options fail to address the associated complications. Intarcia Therapeutics’ platform technology is a proprietary subcutaneous delivery system comprised of a small, matchstick-sized osmotic pump that is placed sub-dermally (just beneath the skin) to deliver a slow and consistent flow of medication. Each device contains an appropriate volume of drug product to treat a patient for a predetermined extended duration of time. Intarcia Therapeutics’ first product, ITCA-650 (continuous subcutaneous delivery of exenatide) is being developed for the treatment of T2D. T2D is a disease known for low compliance rates and requires complex patient management. ITCA-650 is designed to deliver continuous therapy and is aimed at addressing an unmet medical need for patients by providing a tool that guarantees adherence and requires minimal action on the part of the patient.
The T2D market is already a multibillion dollar opportunity and continues to grow each year. The International Diabetes Foundation estimates that the number of patients with diabetes is expected to increase to almost 600 million people worldwide by 2035. More than 90% of diabetes is classified as type 2. The ITCA-650 technology also has the potential to be developed for the management of diseases beyond T2D.
Foresite Capital initially invested in Intarcia Therapeutics in May 2011, recognizing the blockbuster potential that a once-a-year treatment could have in the T2D market, combined with Intarcia Therapeutics’ deeply experienced CEO Kurt Graves and management team. Since our initial investment in 2011, we have significantly increased our stake in Intarcia Therapeutics as the company has continually executed each milestone including securing an ex-U.S. partnership with Servier valued at more than $1 billion plus significant royalties outside the U.S., advancing ITCA-650 through two of four Phase 3 clinical trials, raising more than $1 billion in financing, and executing licensing deals to further build its pipeline. Intarcia Therapeutics continues to show great promise and is an example of our strategy to lean into our winners.