Here are the latest stories being discussed in biopharma today:
Viking Therapeutics Plans Phase 2 Trial for Oral Obesity Drug
Viking Therapeutics announced optimistic early-stage obesity data for its oral GLP-1/GIP dual agonist which produced a 5.3% weight loss and few side effects. The data triggered a 23% increase in the company’s stock. The once-daily drug, VK2735, demonstrated up to a 5.3% reduction in body weight from the baseline in healthy patients after 28 days. The company now intends to commence a Phase 2 study in obese patients later this year.
Brazil to Manufacture Its Cell Therapies
Brazil’s Ministry of Health is working alongside a US nonprofit to manufacture CAR-T therapies and other cell and gene therapies locally at a significantly reduced cost. The objective is to offer cell therapy to patients free of charge while pricing each dose at around $35,000 for Brazil’s health system, which is approximately one-tenth of the cost in Europe and a smaller fraction of US costs.
Edgewood Raises $20M; Nanoscope Aims for FDA Approval for Eye Gene Therapy
Edgewood Oncology has raised $20M in Series A funding for Phase 2a studies in acute myeloid leukemia and targeted breast cancer. Meanwhile, Nanoscope reports that its mutation-agnostic gene therapy MCO-010 cleared a Phase 2b study in retinitis pigmentosa, significantly improving vision. It aims to apply for FDA approval for MCO-010 later this year.
Are Digital Diabetes Programs Worth the Cost?
An evaluation of eight digital tools used to manage type 2 diabetes by the Peterson Health Technology Institute revealed that while the tools did reduce hbA1c levels, the reductions were too insignificant to be clinically significant. Furthermore, the programs seemed to increase overall healthcare costs.
New Data on Genetic Epilepsy Drug Boosts Stoke Shares
Stoke Therapeutics reported positive data from an early-stage study of its treatment for Dravet syndrome, a rare genetic epilepsy that begins in infancy, which helped reduce seizures and led to improvements in cognition and behavior. The news led to a 95% increase in Stoke shares in premarket trading.
Athena Countouriotis’ Avenzo Clinches $150M Boost
Avenzo Therapeutics, helmed by Athena Countouriotis, has secured an additional $150 million. The funding will assist the company in licensing more assets, bringing its total financing since its August 2022 inception to $347 million.
