Idera Pharma Acquires Rare Disease Player, Names New CEO

  • Idera Pharmaceuticals Inc IDRA acquired Aceragen Inc, a privately-held biotechnology company focused on rare, orphan pulmonary, and rheumatic diseases.
  • The combined cash of the two companies is expected to provide a runway into Q3 2023, funding the advancement of Aceragen's pipeline, including ACG-701 and ACG-801, through important 2023 clinical milestones. 
  • The company estimates an annual peak sales potential of $650 million from the three current lead programs.
  • Vincent Milano, Idera's former CEO, has been named Chairman. John Taylor, the former CEO of Aceragen, is the new CEO of the combined company. 
  • ACG-701 is a sodium fusidate formulation for acute pulmonary exacerbations (PEx) associated with cystic fibrosis (CF) and melioidosis.
  • The Phase 2 trial of ACG-701 in CF PEx is expected to begin in Q4 2022. Data is expected in Q2 2023.
  • The melioidosis program for ACG-701 is supported by $51 million in funding from the Defense Threat Reduction Agency due to its potential use as a medical countermeasure. 
  • The TERRA study is underway, with interim analysis expected in Q1 2023; complete Phase 2 data is expected in Q2 2023.
  • ACG-801, recombinant human acid ceramidase, is an investigational biologic enzyme replacement therapy for Farber disease.
  • The company expects to initiate the ADVANCE clinical study for ACG-801 in Farber disease in Q1 2023, with data expected in Q1 2024.
  • Price Action: IDRA shares are up 1.46% at $0.39 on the last check Thursday.
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