OcuTerra Therapeutics aims to exchange watching and waiting for active treatment with a non-invasive eyedrop that reaches the retina and, therefore, allows treatment to occur much earlier in the disease.
OcuTerra CEO Kerrie Brady_Courtesy OcuTerra Therapeutics
The standard of care for nonproliferative diabetic retinopathy is active surveillance as vision deteriorates until intravitreal injections given by a retinal surgeon can be justified. OcuTerra Therapeutics aims to exchange watching and waiting for active treatment with a non-invasive eyedrop that reaches the retina and, therefore, allows treatment to occur much earlier in the disease.
The eyedrop therapy OcuTerra is developing, if approved, will “represent a major change in the patient journey and open access to a broader range of patients and physicians, such as ophthalmologists and perhaps even optometrists. Diabetic retinopathy is an area of high unmet need. Some 30% of all diabetics develop retinopathy, yet there are only about 2,000 retinal surgeons in the U.S., which limits access,” Kerrie Brady, CEO and president of OcuTerra Therapeutics, told BioSpace.
Delivering a drug to the retina is at least as challenging as getting one to cross the brain-blood barrier, she said. “We purpose-engineered a new molecule with characteristics that enable it to reach the retina.” She equated it to a golf ball (representing the eye) in a cup of liquid. “The eyedrop – OTT166 – soaks in from all around the eye.”
OTT166 is based on a selective integrin antagonist. “Our approach modulates and can stop the signaling from the VEGF receptors as well as from platelet-derived growth factors and fibrogen-derived growth factors. As an analogy, it’s like turning the tap off.” In contrast, approaches that only target VEGF receptors tend to just mop up the flow from the tap, she explained.
In a four-week treatment during a Phase Ib study, patients experienced a reduction of the swelling that continued for one month post-treatment. A Phase II study that will treat patients for six months is scheduled to begin the first half of 2022. “Our contract research organizations are finalizing site selections in the U.S. and Europe for 200 patients. We expect to have top-line results in 2024,” Brady said.
Brady’s particular strength is preparing young companies for acquisition. “Someone used to tease me, calling me the organizer,” she said. “I can pull things together.” But her expertise is more than organization. “As you gain experience and connections, you build on relationships with mentors and friends.” Now she’s a mentor herself, working with the Massachusetts Institute of Technology (MIT) to help budding entrepreneurs navigate their journeys.
She also blends a passion for science with a talent for business, holding a Bachelors in Pharmacy from the Victoria College of Pharmacy, an MBA (Award of Distinction) from the University of Melbourne and an M.S. in Biopharmaceuticals from the University of New South Wales.
Before joining OcuTerra, she co-founded Centrexion Therapeutics and grew it to a 25-person team with five clinical programs that led to a $998 million out-licensing deal with Eli Lilly (with $48 million in up-front payments). Before Centrexion, Brady was recruited by InterWest Partners to co-found Arcion Therapeutics and, before that, she founded Traxion Therapeutics, a boutique biotech company developing drugs that act on ion channels.
“I’m like a translator, able to communicate with the scientists and with the business side,” Brady said. One of the most evident culture clashes between the two groups, she pointed out, is simply communication styles. Business executives want the conclusion upfront, followed by the evidence. Scientists, in contrast, present the evidence first, followed by their conclusion.
Reading widely helps her communicate clearly to both, and Brady is an eclectic reader. Some of her favorites include one book about the development and growth of the periodic table of elements and another about the history of color from cave paintings to today’s current palette.
So, when OcuTerra was searching for a CEO, that breadth of expertise and 35+ years in the industry with 15 of them as a company builder brought Brady to the fore. “I was approached by a banker group associated with OcuTerra,” she recalled. “OcuTerra’s scientific approach seemed too good to be true, so I did my research and got solid recommendations from people I trust and admire.”
This happened in early 2020, just as the COVID-19 pandemic was beginning. “I took a sabbatical to Australia but stopped on the West Coast in March for a bit, just as lockdowns started. I ended up staying on the West Coast until July 2021.” In the meantime, in June 2020, she joined OcuTerra as CEO, working virtually.
“Apart from the usual things – having good science and great experience on the team – achieving success as a company is a matter of leveraging your team,” Brady said. “For example, our chief medical officer and chief development officer have many years of experience, so when managing a CRO, they know how it works.”
The fact that three of OcuTerra’s board members are women was coincidental but is a benefit. Having women on boards opens up the discussions, she explained. Brady said she has seen that dynamic in her previous companies and in her graduate programs, and experienced it personally. “Being an outlander myself – I’m Australian and came to the U.S. when I was 36 – I have a different view on things. I think that helps inform more broad thinking.”
For example, “The process women leaders go through to reach a decision typically involves a lot more questioning. Women also tend to be more willing to admit they don’t understand something. Bringing those qualities to the board room is helpful,” because, as she pointed out, asking for more detailed information also helps others gain the insights they need to make more informed decisions.
Leveraging technology early and appropriately is another key element to company success. Brady is not talking only about AI and big data, she said, “although that’s a big area. I’m talking about expert systems that can help you manage your planning.” Brady advises using expert systems in the commercial, finance and business sides of the organization to capture everything and make it findable later.
“It sounds pedestrian, but rather than spending days with a spreadsheet, dragging and dropping, an expert system can save you a salary and make you more efficient,” and also reduce the need for consultants. “We’re not talking about a $100,000 investment, either,” she added, noting that many systems are quite affordable, even for startup companies.
As Brady looks to the future for OcuTerra, she is focused on executing the Phase II program and growing the pipeline. As to what’s next for herself, she said, “I’m not sure, and that doesn’t bother me. There’s so much excitement in the field, I could see many meaningful things we could do.”
