预约演示
Avalo signals change in fortunes by snapping up AlmataBio for ex-Lilly inflammatory drug
临床2期并购临床3期临床1期
Avalo only has eyes for the drug and won’t be taking on any of Almata’s staff.
Avalo Therapeutics is handing over more than $22 million in stock and cash to acquire AlmataBio for a phase 2-ready monoclonal antibody for hidradenitis suppurativa (HS).
Avalo Therapeutics, dubbed AVTX-009, has its origins at Eli Lilly. Avalo CEO Garry NeiAlmataBiosaid the antibody has a “high probability of hidradenitis suppurativa (HS)HS as evidenced by recent data readouts validating inhibition of IL-1β in this disease.”
“We anti-IL-1β mAbS is a muAVTX-009ion-dollar commercialElipLillyitAvalo that AVTX-009 has the potential to be best-in-class and best-in-indication because of its target, half-life, and potency, which may allow for strong efficacy andIL-1βenient dosing,” Neil added in a post-market release yesterday.
Avalo will make AVTX-009 its lead asset, ahead of quisovalimab, an anti-LIGHT AVTX-009hase 2 development for ulcerative colitis, and AVTX-008, a BTLA agonist fusion protein in preclinical development.
Avaloiotech expeAVTX-009ead out topline results frquisovalimab studanti-LIGHT mAbin HS in 2026, and also alluulcerative colitisaluateAVTX-008ibodBTLA agonistBTLA another chronic inflammatory indication.
To get its hands on the drug, Avalo is paying out $15 million in stock aAVTX-009ther $7.5 million in cash to acquire Almata outright. Almata’s former stockholders are also in line for a $5 million payout when the first patient is dosed in the phase 2 trial and $15 million if a patient is dosed in a phase 3 trial.
The acquisition of privately-hAvalolmata marks the end of a short life for the biotech, which was set up in April 2023 with the aim of identifying and licensing AVTX-009. While Almata will become a subsidiary of Avalo, the new owner only has eyes for the drug itself and won’t be taking on any of Almata’s staff.
“AlmataBio was foundeAvaloidentify, acquire, and acceAVTX-009he development of clinically meaningful therapies, and we arinflammatory diseasesbution of the talented AlmataBio team to this mission,” Crutcher added. “We look forward to the advancement of AVTX-009 into a phase 2 trial in HS under Dr. Neil’s stewardship.”
AAlmataBio’t had an easy time in recent years. Back in 2022, the company was forced to cut down its pipeline and lost a chunk of its C-suite. Only last summer, the bAlmataBiod to work through a default with creditors before selling off its rare disease AVTX-009X-801 (D-galactose), AVTX-802 (D-mannose) and AVTX-803 (L-fucose) to AUG Therapeutics.
Luckily, Avalo’s money worries have now been eased, with the company also announcing yesterday a $185 million raise via a private placement Avalorious types of stock. The funding is expected to fuel the phase 2 trial of AVTX-009 and beyond into 2027.
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