Lundbeck Out Licenses Flopped Alzheimer's Drug In Wake Of Biogen's Controversial Success With Aducanumab
Privately-held Denovo Biopharma LLC has in-licensed global rights for idalopirdine from H. Lundbeck A/S (OTC: HLUYY) for all indications.
The deal gives Lundbeck the option to reacquire the asset for predetermined but undisclosed financial terms.
Idalopirdine (now DB109) is an oral antagonist of the serotonin (5-HT6) receptor, primarily expressed in the brain and hypothesized to be involved in Alzheimer's Disease, schizophrenia, and other indications.
In the Lundbeck deal, Denovo will rescue idalopirdine that failed three Phase 3 trials in 2016 and 2017 and looked to have joined the long, ever-growing list of discarded Alzheimer's candidates.
The new licensing deal comes in the wake of the FDA's controversial approval for Biogen Inc's (NASDAQ: BIIB) Aduhelm for Alzheimer's, a move that has already spurred large pharma companies to accelerate the development of their amyloid-clearing drugs.
An independent analysis found idalopirdine might be more effective at high doses and in moderate Alzheimer's subgroups while noting the effect size is small.
Full details of Denovo's plans for the development of idalopirdine are yet to disclose. The first step is to use a biomarker platform to look for pharmacogenomic predictors of the drug's efficacy.
Denovo focuses its business on resurrecting failed therapies. Eli Lilly And Co's (NYSE: LLY) enzastaurin and pomaglumetad are among the prospects Denovo is trying to rescue.
Price Action: HLUYY shares are at $32.09 during the market session on the last check Friday.
See more from Benzinga
EC Selects Antibody Therapies, Arthritis Drug As Preferred COVID-19 Meds: Reuters
Eli Lilly To Look For Ways To Cut Insulin Costs After Walmart Debut: CNBC
© 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
