- Privately-held Denovo Biopharma LLC has in-licensed global rights for idalopirdine from H. Lundbeck A/S 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 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 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.
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