AbbVie is paying $20 million to buy in new drug candidates from UK biotech Mission Therapeutics, which will aim to go after Alzheimer’s and Parkinson’s.
Mission’s specialty is deubiquitylating enzyme (DUB) targets — following their own path rather than misfiled proteins like amyloid, which has recently been revived as a leading drug target following the approval of Biogen’s aducanumab and breakthrough therapy designations for 2 others.
Their collaboration on neurodegeneration goes back to 2018, when the 2 companies preferred to keep the numbers quiet.
There have been a number of new deals since the controversial accelerated approval of aducanumab. But while the FDA has now settled on amyloid as a reasonable target expected to deliver cognitive benefits, none have been proven and a considerable amount of data has been gathered that suggests that researchers may never see much of a response — though that remains a hotly disputed point. — John Carroll
Autolus lands Promising Innovative Medicine for CAR-T
London-based Autolus has won the Promising Innovative Medicine designation from UK regulators for AUTO1 (obecabtagene autoleucel, obe-cel), the biotech’s CAR T cell therapy being studied in relapsed/refractory adult B-cell acute lymphocytic leukemia.
While often compared to the breakthrough therapy designation at the FDA, the UK Medicines and Healthcare products Regulatory Agency is betting that the benefits of this drug will outweigh the risks associated with taking it. And that could make this drug available earlier than Autolus might otherwise expect.
“PIM designation is a recognition of obe-cel as a promising candidate for the Early Access to Medicines Scheme (EAMS) in the UK for the treatment of adult patients with r/r ALL, a life-threatening condition with high unmet need,” said CEO Christian Itin. — John Carroll
Upstart ophthalmology biotech garners $12M for non-viral gene therapies
A little more than 18 months after raising a $30 million B round, Eyevensys is back with a fresh $12 million add-on.
Korea Investment Partners led the B+ round for the biotech, which has roots in Paris and Cambridge, MA. They’re using the funds to develop non-viral gene therapies for eye diseases.
The lead drug is codenamed EYS809, in development for wet age-related macular degeneration. Its EYS606 program is directed at non-infectious uveitis, a sight-threatening intraocular inflammatory condition characterized by inflammation of the uvea.
“This funding will allow us to demonstrate that treating ophthalmic conditions doesn’t have to be invasive and risky, and that our approach is more convenient than other intraocular drug delivery approaches,” says CEO Patricia Zilliox. — John Carroll
Senate Dems prep for major drug pricing legislation, but details remain elusive
Senate Democrats on Monday laid out a framework agreement for their $3.5 trillion budget plan, which is likely to include major provisions related to drug pricing, including allowing Medicare to better negotiate prices.
But the framework offered few specifics, while noting, “Hundreds of billions in additional savings by lowering the price of prescription drugs.”
Sen. Ron Wyden (D-OR), who explained his top drug pricing principles in June, is still working on crafting the details. A Wyden aide told Endpoints News that further detail will probably come in September as the Senate is passing the budget resolution this week that will set the stage for a reconciliation bill later this year. “Then the forthcoming bill will be released when we return after Labor Day. Hard to predict when exactly that might be,” he said. — Zachary Brennan