Management team from Convergence Pharmaceuticals reforms at Calchan

Calchan, a UK-based biotechnology company focused on research and development of novel molecules targeting pain and inflammation, has announced an established management team, led by Brenda Reynolds, CEO, which has a successful track record of building UK-based companies, creating value for investors and commercialisng IP. Calchan was formed from a legacy company, Convergence Pharmaceuticals, which was recently sold to Biogen for $675 million.

Calchan’s assets were originally spun-out of GlaxoSmithKline (GSK) in 2010 and the team will target therapy areas with a clear unmet need, a strong scientific rationale as well as targeting accessible populations with the possibility of premium pricing. The Company’s pipeline includes clinical and preclinical stage assets protected by strong IP and a family of granted patents and applications. 

The most advanced project is a Phase I/II asset CNV2197944, which is a novel state-dependent calcium channel blocker (Cav2.2). It has proven efficacy across a range of preclinical pain models and has an excellent tolerability profile. It is a first in class candidate, delivered orally with the potential for broad spectrum activity combined with an improved therapeutic index.

The company’s second programme is at a preclinical stage and targets the apoptosis signal-regulating kinase 1 (ASK1). This is a novel molecule utilising a precedented biological pathway. ASK1 is implicated in pain, inflammation, ischaemia, fibrosis, cancer and neurodegeneration. The programme has achieved structurally enabled medicinal chemistry, pharmacological proof of principal and is being rapidly progressed towards a first in man ready compound for oral delivery. 

The main Board of Calchan is composed of Chief Executive Officer Brenda Reynolds,  Non-Executive Chairman Clive Dix and Non-Executive Directors Allan Marchington (Apposite Capital), Kate Bingham (SV Lifesciences), Liam Ratcliffe (New Leaf Ventures), John Aston, OBE and Simon Tate (Convergence Pharmaceuticals).

Calchan is well funded and its investors include Apposite Capital, New Leaf Venture Partners and SV Lifesciences as well as GSK. In addition, the company is in receipt of a £2.4 million grant from Innovate UK.

Brenda Reynolds, Chief Executive Officer of Calchan, commented: “Calchan is moving to its next stage of accelerated development, we have reformed a successful team of executives and investors as well as supplementing it with additional scientific and development expertise.  The portfolio of drug candidates has great potential and includes the most advanced voltage gated calcium channel project in the industry and a novel ASK1 asset with applications in a number of therapy areas. This combination is rare for a small biotech and I am genuinely excited about our future.”