Quralis Inc. raised $88 million in series B round to fund clinical development of its two lead programs in amyotrophic lateral sclerosis (ALS) and to take forward earlier-stage pipeline projects in ALS and frontotemporal dementia.
Bionomics Ltd. is gearing up for an end-of-phase-II meeting with the U.S. FDA later this year to discuss the full results from the phase II study called Prevail in social anxiety disorder (SAD) with BNC-210, which missed its primary endpoint but yielded encouraging signs. Top-line data were disclosed last December. An oral alpha-7 nicotinic acetylcholine receptor negative allosteric modulator, BNC-210 fell short in change from baseline to the average of the Subjective Unites of Distress Scale (SUDS) during a five-minute public speaking challenge.
Marking the latest Alzheimer’s disease (AD) disappointment, Eli Lilly and Co.’s solanezumab failed in a phase III trial to slow progression of cognitive decline in patients at the preclinical stage of the disease – those with amyloid plaque but no clinical symptoms – prompting the company to terminate development. The Indianapolis-based company is turning its attention instead to phase III AD products donanemab and remternetug.
Noema Pharma AG raised CHF103 million (US$110.3 million) in a series B round to continue moving forward its bulging pipeline of clinical stage assets in development for multiple central nervous system disorders. The Basel, Switzerland-based company is now funded through early 2025, by which time it will have at least some clinical data that will help it to determine its next steps.
Rapport Therapeutics Inc. launched with $100 million in series A funding and ambitious plans to bring a hitherto unprecedented level of precision to therapies for neurological disease. Although the Boston-based company is new to the world, its underlying platform has been a decade in the making, and it already has one clinical-stage asset, which is in development for seizure disorders. It is currently undergoing a phase I trial.
Praxis Precision Medicines Inc. CEO Marcio Souza said it would be “disingenuous not to move forward” – U.S. FDA willing – into a phase III effort with an alternate design targeted for the second half of this year, given top-line results from the phase IIb Essential-1 study with ulixacaltamide (PRAX-944) for essential tremor.
Confo Therapeutics NV is banking an up-front payment of $40 million from a licensing deal with Eli Lilly and Co. involving its lead asset, CFTX-1554, an oral inhibitor of the angiotensin II type 2 receptor, which is in phase I development for neuropathic pain. The deal includes up to $590 million more in potential milestones and tiered sales royalties. Ghent, Belgium-based Confo could also secure a further $590 million in additional milestones should Indianapolis-based Lilly elect to take forward an antibody-based inhibitor directed against the same target.
After a long and bumpy road to approval, Reata Pharmaceuticals Inc. is to roll out the first treatment for Friedreich’s ataxia in the U.S. for patients ages 16 and older after the FDA gave its anti-inflammatory drug, Skyclarys (omaveloxolone), the green light.
A shortage of efficacy compared to placebo in a phase II study of treating cognitive impairment has put Aptinyx Inc. on the defensive. The company’s oral, small-molecule NMDA receptor modulator, NYX-458, was being studied in 99 patients with mild cognitive impairment or mild dementia associated with Parkinson’s disease or Lewy body dementia. Based on the results, Aptinyx has decided to stop the therapy’s development, along with closing its phase IIb study of another oral, small molecule, NYX-783, for treating post-traumatic stress disorder.
In light of the growing interest in the use of psilocybin, MDMA and other psychedelics in psychotherapy, Health Canada issued a notice spelling out how licensed providers can obtain the drugs through the agency’s special access program on a case-by-case basis.
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