Profile: Insmed Incorporated (INSM.O)

Insmed Incorporated (Insmed) is a development stage biopharmaceutical company specializing in recombinant protein drug development. The Company also engaged the services of RBC to act as financial advisor. On March 31, 2009, the Company completed the sale of its follow-on biologics assets to Merck & Co., Inc. (Merck).

IPLEX

The Company’s protein product, IPLEX (mecasermin rinfabate, recombinant deoxyribonucleic acid (DNA) origin, injection) is a complex of recombinant human IGF-1 and its binding protein IGFBP-3 (rhIGF-1/rhIGFBP-3). IPLEX is administered as a once-daily subcutaneous injection, which can restore and maintain IGF-1 at physiologically relevant levels. The Company is also evaluating IPLEX as a treatment for amyotrophic lateral sclerosis (ALS) in Italy as part of its expanded access program (EAP). In the retinopathy of prematurity (ROP) indication the Company is working with Premacure AB in Sweden and supplying IPLEX to Premacure.

Oncology Programs, INSM-18 and rhIGFBP-3

INSM-18 and rhIGFBP-3 are in early clinical development and are primarily being investigated for the treatment of cancer. INSM-18 is an orally available small molecule tyrosine kinase inhibitor that has demonstrated selective inhibition of IGF-1 and human epidermal growth factor receptor (Her2/Neu). It has exhibited anti-tumor activity in preclinical studies of breast, lung, pancreatic and prostate tumors. Two single dose Phase I clinical studies have been completed with INSM-18. rhIGFBP-3 has demonstrated preclinical efficacy in a number of cancer indications, including breast, prostate, liver, ovarian and colon. In addition, several lines of evidence from various cell systems have suggested that rhIGFBP-3 play an active, IGF-1-independent role in growth regulation of cancer cells, binding specifically with high affinity to the surface of various cell types and directly inhibiting monolayer growth of these cells in an IGF-1-independent manner.

The Company competes with PTC Therapeutics, Asklepios Biopharmaceutical Inc., Wyeth and Schering-Plough/Key Pharmaceutical, AVI Biopharma, Cephalon, Transgene, ImClone, Amgen, OSI Pharmaceuticals, Bristol Meyers Squibb and Genentech.