Abbvie Inc.’s encore to its $10.1 billion buyout of antibody-drug conjugate specialist Immunogen Inc. took the form of another takeover – this time of Cerevel Therapeutics Inc. for $45 per share in cash, which puts the total equity value at about $8.7 billion and provides Abbvie with “one of the most attractive growth portfolios in the industry,” CEO Richard Gonzalez said.
Pharvaris NV’s phase II top-line data from the Chapter-1 trial testing oral bradykinin B2 receptor antagonist deucrictibant in hereditary angioedema (HAE) wowed Wall Street and sparked speculation regarding where the drug might fit in the increasingly competitive landscape.
Neurosense Therapeutics Ltd. failed to impress Wall Street with top-line data from its phase IIb study called Paradigm with PrimeC, a fixed-dose combination of ciprofloxacin and celecoxib, in amyotrophic lateral sclerosis.
The same mechanism of action deployed by Eli Lilly and Co.’s obesity drug Mounjaro (tirzepatide) helped lure Roche Holding AG to the buyout of Carmot Therapeutics Inc., as the pharma giant agreed to pay $2.7 billion up front for the privately held outfit, promising another $400 million if milestones are met.
Buying out Immunogen Inc. in a whopper cash deal valued at about $10.1 billion, Abbvie Inc. has major plans for an expanded label on the antibody-drug conjugate Elahere (mirvetuximab soravtansine-gynx), already approved for treating platinum-resistant ovarian cancer.
For the second time this week, a contract research organization has come under fire for trial-conduct issues – criticism leveled most recently by Biovie Inc., which saw its shares (NASDAQ:BIVI) tumble $3.03, or 60%, to end Nov. 29 at $1.96 on missed-endpoint data from the phase III trial testing Alzheimer’s disease prospect NE-3107. The data fell short of statistical significance due to site exclusions caused by what Biovie said were “significant good clinical practice violations and protocol deviations.”
Argenx SE’s surprise phase III blowup with subcutaneous Vyvgart Hytrulo (efgartigimod alfa and hyaluronidase-qvfc) in the platelet disorder primary immune thrombocytopenia (ITP) – blamed on a higher-than-expected placebo response – had investors speculating about possible read-throughs to other indications.
Xenon Pharmaceuticals Inc.’s Kv7 potassium channel opener XEN-1101 remains very much alive despite the primary endpoint miss in top-line data from the phase II proof-of-concept X-Nova trial in moderate to severe major depressive disorder.
Index Pharmaceuticals Holding AB CEO Jenny Sundqvist said liquidation of the company in the wake of phase III data with cobitolimod in moderate to severe ulcerative colitis (UC) is “one of the options that will be on the table.” Shares of the Stockholm-based firm (STO:INDEX) closed Nov. 22 at SEK0.24 (US2 cents), down SEK0.41, or 63%, on word that an independent data monitoring committee (DMC) has completed the planned dose-selection analysis, including safety review and assessment for futility, of induction Study 1 of the phase III program called Conclude, testing the Toll-like receptor 9 agonist cobitolimod. The DMC concluded that Index’s lead compound is unlikely to meet the primary endpoint, and the company said development will be stopped.
Merck & Co. Inc. continued to broaden its reach in neurodegenerative diseases by paying, through a subsidiary, as much as $610 million to take over preclinical-stage Caraway Therapeutics Inc. The deal involves an undisclosed up-front payment along with contingent milestone rewards.
