BioCryst Pharmaceuticals Inc. (NASDAQ:BDRX) is a pharmaceutical research company founded in 1986 in Birmingham as a spin-off of UAB research conducted by Charles Bugg and John Montgomery. William Spencer III, who had been involved in the launch of Molecular Engineering Associates, helped the company raise start-up investments.
BioCryst went public in 1994 and moved its headquarters to Durham, North Carolina in 2010. It maintains a 35,000 square-foot "Discovery Research Center and Laboratory Center of Excellence" (or "Discovery Center of Excellence") with approximately 60 employees at 2100 Riverchase Center in Riverchase Corporate Park. The center is headed by chief discovery officer Yarlagadda Babu.
Formerly headquartered at 2190 Parkway Lake Drive, BioCryst develops and manufactures various types of prescription drugs. Its two most well-known products include the influenza drug Peramivir, a treatment of T-cell mediated disorders called BCX-1777 and another treatment for T-cell mediated autoimmune diseases called BCX-4208.
BioCryst planned to merge with Idera Pharmaceuticals of Exton, Pennsylvania in 2018, but the move was blocked by shareholders in July.
In April 2023 BioCryst negotiated a $450 million 5-year financing agreement with Pharmakon Advisors of New York City. The deal provided funds to repay $241.8 million in existing debts to Athyrium Capital Management.
Later that year, BioCryst made plans to expand its research and manufacturing facility to 49,054 square feet, occupying the entire 2100 Riverchase Center building. The City of Hoover provided $1,828,470 in tax abatements over 10 years to support the expansion.
BioCryst has developed several drug treatments:
- BCX-1777 ("Fodosine"), IV, for treatment of T-cell leukemia
- BCX-1812 ("Peramivir"), for treatment of seasonal/life-threatening influenza
- BCX-4161 ("Avoralstat") for treatment for vision loss related to diabetes
- BCX-4208 ("Ulodesine"), for treatment of autoimmune diseases/transplantation/Hepatitis C
- BCX-7353 ("Orladeyo"), for prevention of recurrent hereditary angioedema attacks
- BioCryst Pharmaceuticals, Inc. (2005) Corporate Report 2005 (PDF) - accessed September 21, 2006
- BioCryst Pharmaceuticals Inc. corporate spotlight at NASDAQ. - accessed September 21, 2006
- Hubbard, Russell. (September 21, 2006) "BioCryst says CEO will retire in 2007." The Birmingham News
- DeButts, Jimmy (November 13, 2009) "BioCryst sees healthy future after flu drug." Birmingham Business Journal
- Piper, Ben (October 13, 2010) "BioCryst Pharmaceuticals Inc. moving HQ to North Carolina." Birmingham Business Journal
- Patchen, Tyler (January 23, 2018) "BioCryst Pharmaceuticals to merge with Pennsylvania pharmaceutical company." Birmingham Business Journal
- Henderson, Jennifer (July 23, 2018) "No deal: BioCryst shareholders thwart merger with Idera." Birmingham Business Journal
- Patchen, Tyler (May 14, 2021) "BioCryst Pharmaceuticals expands in Birmingham." Birmingham Business Journal
- Ezzone, Zac & Laurel Thrailkill (April 20, 2023) "Pharma with Bham presence takes $300M loan to pay down debt." Birmingham Business Journal
- Ezzone, Zac (November 6, 2023) "BioCryst pays $5M upfront in licensing deal for vision-loss treatment." Birmingham Business Journal
- Thrailkill, Laurel (November 7, 2023) "Major biotech company to get $1.8M in tax incentives from Hoover." Birmingham Business Journal
- BioCryst Pharmaceuticals Inc. website