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Oxigene: Realizing Value from Multiple Technology Platforms

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biotechnology management case

Mark J. Ahn1, Anne S. York2, David Ackerley3and Rebecca Bednarek3
1Atkinson Graduate School of Management, Willamette University; 2College of Business, Creighton University; and 3Victoria University of Wellington

Key issue(s)/decision(s): Oxigene is a development stage, biopharmaceutical company developing novel therapeutics to treat cancer and eye diseases. This case follows Dr. Richard Chin, CEO of Oxigene, as he faces the key strategic challenge of developing a technology platform with multiple product applications, each of which required significant resources. The case considers Chin and Oxigene’s strategic options — continue to diversify from oncology to ophthalmology, spin off their ophthalmology product candidates into a new company, or license their ophthalmology to another company.

Companies/institutions: Oxigene, Bristol-Myers Squibb Company, Arizona State University

Technology: Vascular disrupting agents (VDA) are a new generation platform, which induce anti-angiogenesis to deprive the blood supply to tumors that occlude pre-existing tumor vessels.

Stage of development at time of issue/decision: Zybrestat® is in advanced clinical trials in Phase III thyroid cancer and pre-clinical development for ophthalmology.

Indication/therapeutic area: Zybrestat® is being developed for various cancers, including anaplastic thyroid cancer and is in preclinical development in ophthalmology, specifically in wet Age-related Macular Degeneration (wAMD).

Geography: US, Sweden

Keywords: angiogenesis, vascular disrupting agents, oncology, ophthalmology, technology transfer

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Building the Case for Biotechnology is published by Logos Press