Breaking News

A rare IPO filing, BridgeBio's edge, & a big idea in Parkinson's

August 28, 2023
National Biotech Reporter
Hello from a refreshing week away. Damian here in the waning days of an uncharacteristically busy August, with news of a biotech IPO, notes from a cardiology conference, and the latest drug pricing lawsuit.

Markets

Behold, a biotech IPO

The neuroscience startup Neumora filed to go public late Friday, plotting what would be just the seventh biotech IPO in 2023.

As STAT's Allison DeAngelis reports, Neumora, founded by Arch Venture Partners, did not specify how many shares it intends to float or the price at which it will sell them. The company had been plotting an IPO since at least last year, and it raised a $112 million crossover round in October.

Neumora got its start in 2021 to rethink the drug industry's approach to developing medicines for disorders such as depression, schizophrenia, and Alzheimer's disease by bringing a computational approach to what has often been an empirical process. Its most advanced drug, a treatment for severe depression, is slated to enter Phase 3 trials later this year.

Read more.



Cardiology

BridgeBio's victory holds up

A would-be blockbuster heart medicine from BridgeBio reduced the risk of death and hospitalization for patients with a progressive cardiovascular disease, researchers said at a medical conference yesterday, setting the stage for competition against a multibillion-dollar medicine from Pfizer.

BridgeBio's detailed data, presented at the European Society of Cardiology meeting in Amsterdam, supported the company's previously disclosed success in a Phase 3 study. The drug, acoramidis, met its goals in a trial enrolling patients with ATTR-CM, an increasingly prevalent disease in which misfolded proteins lead to irreversible and often fatal heart damage.

The question now is whether BridgeBio's drug, once it's approved, should be used instead of tafamidis, the Pfizer treatment that brings in more than $2.5 billion a year. There is no head-to-head study of the two medicines, and history suggests there never will be, but BridgeBio's successful trial enrolled patients who weren't as sick as those in the Pfizer study,  suggesting its drug is more potent. Furthermore, the study allowed patients to take tafamidis for the final 18 months of the 30-month trial. More patients in the placebo group received Pfizer's drug than those in the treatment arm, another datapoint suggesting acoramidis' superiority.


R&D

Bayer makes inroads on a big idea in Parkinson's 

For decades, researchers have hoped they might cure Parkinson's by replacing patients' dying neurons with neurons derived from stem cells. But trials in the 1980s with embryo-derived stem cells showed little promise, and tests with the newer, fancier, lab-built stem cells have been largely limited to (dramatic) single-patient cases.

This morning, however, Bayer's stem cell subsidiary Bluerock released detailed data from a trial of 12 patients, one of the first rigorous looks into how the long-gestating approach might one day change Parkinson's. Although still quite early, the study showed evidence that replacement cells survived in the patients' brains and suggested Parkinson's symptoms improved. One patient suffered a seizure attributed to the surgery required to implant the cells.

"I think it's quite exciting for the field of cell therapy in the brain," said Bob Carter, chair of neurosurgery at Mass General, who was not involved in the work. Bluerock is now planning to begin a larger study next year. 


Washington

AstraZeneca gets creative with its IRA lawsuit

British pharmaceutical giant AstraZeneca became the sixth drug company to sue over the U.S.'s plan to let Medicare negotiate certain drug prices, but its legal challenge came with a twist.

As STAT Rachel Cohrs reports, AstraZeneca echoes previous claims that the Inflation Reduction Act is unconstitutional but also argues that the Centers for Medicare and Medicaid Services overstepped its authority in how it interpreted parts of the law. The company, which paid about $40 billion for the rare disease drugmaker Alexion Pharmaceuticals, also took issue with how the law applies to certain medicines for rare conditions.

The lawsuit comes just days before Medicare is expected to publish the first 10 medicines that will be subject to negotiation when the program takes effect in 2026. Symbicort, AstraZeneca's treatment for asthma and COPD, could end up on the list.

Read more.


More around STAT
Check out more exclusive coverage with a STAT+ subscription
Read premium in-depth biotech, pharma, policy, and life science coverage and analysis with all of our STAT+ articles.

More reads

  • Weight loss drug Wegovy improves function in people with common type of heart failure, STAT
  • FTC pauses challenge to Amgen's $27.8 billion deal for Horizon Therapeutics, Wall Street Journal
  • Listen: Vivek's star turn, leaky drug data, & biotech as family business, STAT
  • Alnylam to appeal ruling on patents related to Moderna's Covid vaccines, Reuters

Thanks for reading! Until tomorrow,


Enjoying The Readout? Tell us about your experience
Continue reading the latest health & science news with the STAT app
Download on the App Store or get it on Google Play
STAT
STAT, 1 Exchange Place, Boston, MA
©2023, All Rights Reserved.

No comments