More evidence of big pharma’s interest in type 1 diabetes (T1D) arose as Eli Lilly and Co. disclosed its plan to buy encapsulated-cell-therapy collaborator Sigilon Therapeutics Inc., bringing aboard SIG-002, the early-stage drug on which the pair has been working since 2018. The news blasted upward shares of Cambridge, Mass.-based Sigilon (NASDAQ:SGTX), which closed June 29 at $21.15, up $17.24, or 441%.
Edding Group Co. Ltd. announced June 23 it filed for an IPO on the Hong Kong Exchange – news that comes amid a steep drop in China’s biopharma IPO market forecasting sluggish activity in a near-frozen “capital winter.”
In a deal worth $2.4 billion in cash, Eli Lilly and Co. agreed to acquire Dice Therapeutics Inc., gaining a franchise of oral IL-17 inhibitors for chronic autoimmune diseases.
If Eli Lilly and Co. had been hoping its migraine drug, Emgality (galcanezumab), would emerge with unequivocal superiority against Pfizer Inc.’s Nurtec ODT (rimegepant orally disintegrating tablet), giving the once-monthly injectable biologic an advantage in the highly competitive CGRP space, the pharma firm likely was disappointed. Findings from the phase IV Challenge-MIG study did not meet the primary endpoint, which called for Emgality’s statistical superiority over Nurtec ODT on the percentage of patients achieving a 50% or greater reduction in monthly migraine days.
In its first untitled letter in more than a year, the U.S. FDA’s Office of Prescription Drug Promotion (OPDP) took Xeris Biopharma Holdings Inc. to task for two webpages promoting the company’s Recorlev.
Verve Therapeutics Inc. has entered into an exclusive research collaboration with Eli Lilly and Co. focused on advancing Verve’s preclinical stage in vivo gene editing program targeting lipoprotein(a) (Lp[a]), a risk factor for atherosclerotic cardiovascular disease (ASCVD), ischemic stroke, thrombosis and aortic stenosis.
Eli Lilly and Co.’s phase II data with LY-3462817 (peresolimab), a monoclonal antibody (MAb) that functions as a PD-1 agonist for rheumatoid arthritis (RA), juiced hopes for the approach being tried by a handful of firms.
Positive data from two studies treating early breast cancer with CDK4/6 inhibitors presented at the American Society of Clinical Oncology (ASCO) meeting in Chicago showed progress is helping patients live longer. The two treatments and companies, Novartis AG and Eli Lilly and Co., are nearly head-to-head competitors in the niche indication.
Xtalpi Inc. has entered into an artificial intelligence (AI) drug discovery collaboration with Eli Lilly & Co. The collaboration, valued at up to $250 million in upfront and milestone payments, will leverage Xtalpi’s integrated AI capabilities and robotics platform to de novo design and deliver drug candidates for an undisclosed target. Xtalpi seeks to deliver a novel compound, which Lilly will pursue in clinical and commercial development.
Eli Lilly and Co. is paying $13.5 million to bow out of a class action lawsuit that claimed the list price of several insulin analogue products was fraudulent. Lilly also committed to capping the monthly patient out-of-pocket cost at $35 for its insulin products for at least four years, bringing the total value of the settlement, announced May 26, to more than $500 million, according to the attorneys who filed the class action on behalf of patients in 2017.