Flare Therapeutics Inc. raised $123 million in an oversubscribed series B round to take its lead compound, FX-909, a potentially first-in-class peroxisome proliferator-activated receptor gamma inhibitor, into clinical trials in patients with advanced urothelial cancer and to advance additional pipeline candidates acting on other transcription factor targets with genetically validated links to disease biology.
Minoryx Therapeutics SL is banking what it described as “a significant double-digit up-front payment” and could earn up to €258 million (US$262.1 million) more in milestone payments and development funding from a license agreement with Neuraxpharm GmbH, which covers European rights to its lead drug candidate, leriglitazone, in central nervous system indications. It will also receive tiered double-digit royalties on product sales.
The new peroxisome proliferator-activated receptor gamma (PPARgamma) agonist leriglitazone (hydroxypioglizatone; Minoryx Therapeutics), has a better profile for treating neurodegenerative diseases, such as X-linked adrenoleukodystrophy (X-ALD), than similar drugs, including pioglitazone (Actos; Takeda).
