The Story : A New Start for Promising Therapeutics

On February 20, 2024, Taran Therapeutics, a private Delaware C-corp, acquired the assets of Humanigen, Inc., A NASDAQ-listed company, in a Chapter 11 bankruptcy sale overseen by the court in Delaware and Judge Brendon Shannon, who signed off on the sale. Humanigen had pursued development of Lenzilumab (LENZ), a monoclonal antibody, as a therapy for rheumatoid arthritis, asthma, CMML, acute GvHD, as a companion therapy to CAR-T, and more recently for COVID-19. Despite a promising trial in COVID, LENZ did not receive Emergency Use Authorization in COVID and Humanigen could not continue as a going concern.

Taran now owns all rights to three drugs, including LENZ, a promising monoclonal antibody with two on-going, funded Phase 2/3 trials for often-fatal conditions that currently lack adequate therapies. The Mayo Clinic is planning to initiate a third Phase 3 trial. Taran also plans three additional trials. LENZ shows promise in hematology/oncology and chronic inflammation. It could be commercialized in certain territories for a form of leukemia in 2026.

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Thanks to the investments already made under the prior ownership, LENZ now has a well-established and excellent safety profile at a sunk cost of approximately $300 million. In addition, extensive Chemistry, Manufacturing, and Controls (CMC) work was completed and inventorymanufactured at a sunk cost of approximately $200 million. In addition, Taran acquired two other monoclonal antibodies in the bankruptcy sale. These promising drugs could be developed, partnered, or divested.