Vigil Neuroscience, Inc.

Plus, news about Vigil Neuroscience, AC Immune and Athira Pharma: Capricor Therapeutics, Nippon Shinyaku expand commercial pact into Europe: The new deal builds off an existing partnership for a Duchenne muscular dystrophy candidate in the US and Japan. Nippon Shinyaku will now be in charge of distribution and commercialization in Europe, with Capricor earning $20 million upfront, $15 million in an equity investment and up to $715 million in milestone payments. Capricor’s stock $CAPR was up about 8% on Tuesday morning. — Max Bayer Ripple Therapeutics inks deal with AbbVie for eye treatment: The drugmaker is paying $21.8 million upfront to license RTC-620, an experimental implant that delivers a treatment that reduces intraocular pressure in patients with open-angle glaucoma or ocular hypertension. According to the deal, Ripple can get up to $290 million in fees and milestones, plus tiered royalties on net sales. — Jaimy Lee FDA lifts partial hold for Vigil Neuroscience asset: The biotech can now continue with a Phase 1 study testing VG-3927 as a treatment for Alzheimer’s disease. Vigil said the agency decision was based on a “complete response submitted by the company.” — Max Bayer J&J makes a second milestone payment to AC Immune: The new lump sum, worth 24.6 million Swiss francs ($29 million), is thanks to the “rapid rate of prescreening” in a Phase 2b trial testing the companies’ Alzheimer’s treatment. The biotech has received 40 million Swiss francs ($47.2 million) in milestone payments from J&J to date. — Max Bayer Athira lays off 70% of staff after failure in Alzheimer’s disease: The company is now prioritizing an oral pill targeting hepatocyte growth factor for ALS and Alzheimer’s. The layoffs will result in a one-time $2.8 million charge, but will save roughly $13.4 million on an annualized basis. It had 65 full-time employees as of Dec. 31. Athira said the cuts will extend its cash runway into the first quarter of 2026. — Max Bayer Nuvalent upsized its public offering. It now plans to raise $500 million , up from $350 million . — Jaimy Lee

Pictured: A brain hovers over a hand against a yellow-striped background/Taylor Tieden for BioSpace The first half of 2024 was filled with ups and downs for patients and researchers in the neurological disease space. The amyotrophic lateral sclerosis community took a hit when Amylyx’s Relyvrio failed its confirmatory Phase III trial and was subsequently withdrawn from the market. Huntington’s disease patients saw new hope in the form of positive mid-stage data from Wave Life Sciences. The second half of the year kicked off with the approval of a novel disease-modifying treatment for Alzheimer’s disease, only the second such option now available to patients. The next six months are shaping up to be just as eventful in clinical research, with key data readouts expected in Alzheimer’s, schizophrenia, depression and a couple of rare diseases. Graig Suvannevejh, senior biopharmaceuticals and biotechnology equity research analyst at Mizuho Americas, noted several key upcoming data readouts in both the neuropsychiatric and neurodegenerative spaces. Here are five BioSpace is keeping a close eye on. Athira Pharma’s Fosgonimeton Alzheimer’s disease Recently approved medicines Leqembi and Kisunla command the most attention in the Alzheimer’s disease treatment space as the first anti-amyloid antibodies on the market, but the experimental Alzheimer’s pipeline is still robust. One candidate with a different mechanism of action is fosgonimeton, currently in a Phase II/III trial. Topline data from the trial, which includes around 550 patients, are expected in the second half of this year. Developed by Athira Pharma, fosgonimeton is designed to modulate the HGF/MET system to activate neuroprotective and anti-inflammatory pathways in the central nervous system. Athira presented data from the Phase II SHAPE trial in Parkinson’s disease dementia and dementia with Lewy bodies at the AD/PD 2024 International Conference in March, showing “encouraging safety and pro-cognitive measures.” These results “underscore confidence” in the Phase II/III LIFT-AD trial in Alzheimer’s disease, according to the company’s press release. In 2022, fosgonimeton combined with standard-of-care acetylcholinesterase inhibitors missed the primary endpoint in Athira’s Phase II ACT-AD study, failing to best placebo in ERP P300 latency, a measure of working memory processing speed. However, a planned analysis of subgroup data showed cognitive and functional improvements through the drug’s modulation of the HGF/MET system, and Athira moved forward investigating fosgonimeton as a monotherapy for Alzheimer’s. AbbVie/Cerevel’s Emraclidine Schizophrenia In December 2023, AbbVie invested nearly $9 billion in the schizophrenia space with the acquisition of Cerevel Therapeutics and its late-stage asset emraclidine. (This deal has not yet closed.) Later this year, the company will learn whether its investment has paid off. Two Phase II trials, EMPOWER-1 and EMPOWER-2, comprise approximately 750 individuals in total and are projected to read out by the end of 2024. In these trials, AbbVie is seeking the rapid improvement of schizophrenia symptoms. The trials’ primary endpoint is change from baseline after six weeks on the Positive and Negative Syndrome Scale (PANSS) scale. The studies are also evaluating the safety and tolerability of emraclidine, a positive allosteric modulator of the muscarinic M4 receptor. AbbVie will need strong data from the EMPOWER trials to keep pace with Bristol Myers Squibb, which is expecting an FDA decision in September on its own novel schizophrenia treatment, KarXT, which also targets the M4 as well as M1 muscarinic receptors. BMS obtained KarXT in its December acquisition of Karuna Therapeutics. “[Emraclidine] is behind,” Suvannevejh said. “Cerevel knew that they needed to play catch-up versus Karuna,” so they tried to design the Phase II studies to be large enough and robust enough to be considered by the FDA as Phase III studies. “We don't know if FDA is going to agree to that, [but] that’s what their hope is going to be.” Neumora Therapeutics’ Navacaprant Major depressive disorder Also in the neuropsychiatric space, Watertown, Mass.–based Neumora Therapeutics is expecting the first Phase III data for its lead asset navacaprant, a Kappa-opioid receptor (KOR) antagonist in development for major depressive disorder (MDD), in the fourth quarter of this year. The KOR system is a “well-characterized pathway known to mediate depressive-like states, and modulating this system represents a novel approach to treating MDD and other major neuropsychiatric disorders,” according to Neumora’s website. Mizuho is “bullish” on navacaprant’s prospects, due to “de-risking” Phase II data, validation from a competitor program, a positive reception from key opinion leaders on the KOR class and a large, addressable MDD market, Suvannevejh wrote in a July 8 investor note. “This represents a brand-new class for depression,” Suvannevejh said, adding that there is a “fair amount of industry excitement” around KOR antagonists due to the less-than-ideal side effects associated with currently marketed antidepressants. Neumora launched the Phase III trial in July 2023 after navacaprant monotherapy demonstrated “statistically significant and clinically meaningful reductions in symptoms of depression and anhedonia” in Phase II trial participants with moderate-to-severe MDD. If these studies are successful, Neumora intends to New Drug Application with the FDA for navacaprant in 2025. Amylyx’s AMX003 Wolfram syndrome A week after announcing the voluntary withdrawal of recently approved ALS treatment Relyvrio (AMX0035) from the U.S. and Canadian markets, Amylyx received a glimmer of hope for the drug—a combination of sodium phenylbutyrate and taurursodiol—in another neurodegenerative condition: Wolfram syndrome. Wolfram syndrome is characterized by childhood-onset insulin-dependent diabetes mellitus and progressive optic atrophy, with many patients also developing diabetes insipidus, sensorineural hearing loss and autonomic nervous system degeneration. The multi-organ disease is caused by mutations in the WFS1 gene that lead to endoplasmic reticulum (ER) stress and mitochondrial dysfunction, which causes “lack of function across many different cell types, and ultimately, cell death across multiple cell types, starting with beta cells in the pancreas and then moving to parts of the nervous system,” explained Justin Klee, co-CEO of Amylyx. “AMX0035 targets ER stress and mitochondrial dysfunction.” Interim results from the ongoing Phase II HELIOS trial showed AMX0035 improved pancreatic function and glycemic control in adult patients with the rare, inherited disease. Treatment with Amylyx’s drug led to an increase in total C-peptide response, an established marker of pancreatic beta cell function and glycemic control and the trial’s primary efficacy measure. With these data, from eight patients who had completed 24 weeks of treatment, Amylyx co-CEO Josh Cohen told BioSpace that the company plans to engage with regulators on a possible development path for AMX0035 in Wolfram syndrome. Amylyx expects topline data from all 12 trial participants after 24 weeks of treatment during the second half of 2024. Vigil Neuroscience’s Iluzanebart ALSP Another company anticipating mid-stage data for a rare disease candidate is Vigil Neuroscience. Vigil is developing iluzanebart for adult-onset leukoencephalopathy with axonal spheroids and pigmented glia (ALSP), an inherited, autosomal dominant neurological disease affecting approximately 10,000 people in the U.S. Phase II data are expected in the third quarter of 2024. ALSP is caused by loss-of-function mutations in the CSF1R gene, leading to microglial dysfunction. Iluzanebart is designed to increase signaling through DAP12/SYK to mitigate microglial dysfunction, according to Vigil. In preclinical studies, iluzanebart has “demonstrated sub-nanomolar potency and selective target engagement with TREM2,” which activates the cascade of downstream signals to mediate neuroprotective and homeostatic functions of the microglia. “It's important for Vigil and it's important for patients with this disease because there are no FDA-approved treatments . . . and Vigil is the only game in town for this disease,” Suvannevejh said. “It’s a very novel agent targeting this TREM2 mechanism of action,” and for investors, the jury is still out on whether this is an effective approach, he said. Heather McKenzie is a senior editor at BioSpace. You can reach her at heather.mckenzie@biospace.com. Also follow her on LinkedIn.

Today, a brief rundown of news from PTC Therapeutics, Esperion Therapeutics and Coherus Biosciences, as well as updates from Sanofi, Lantheus Holdings and Forbion that you may have missed.Drug regulators in Europe have, for a third time, recommended against renewing the approval of PTC TherapeuticsDuchenne muscular dystrophy medicine Translarna. The European Medicines Agency panel had been asked to re-evaluate PTCs application after the European Commission, in an unusual step, rejected its recommendation and suggested it consider data from patient registries and real-world use. That evidence still doesnt prove Translarna is effective, the panel said Friday. PTC will again seek another opinion, during which time Translarna will remain on the market in Europe. Ben FidlerEsperion Therapeutics said Friday it has sold rights to sales royalties in Europe for its cholesterol-lowering pill bempedoic acid to Omers Life Sciences for $305 million.Omers will own those royalties until its received 1.7-times its initial investment, after which Esperion will reclaim rights. Esperion will use some of the proceeds to pay off a loan from Oberland Capital, and is still eligible to receive up to $300 million in sales-based milestone payments under a licensing deal with Daiichi Sankyo. Jonathan GardnerCoherus BioSciences is selling rights to Yusimry, a biosimilar version of Humira, to Hong Kong King-Friend Industrial for $40 million in cash. The biosimilaris the second Coherus has divested this year as part of a plan to focus its business on branded cancer drugs. It won U.S. approval for its first, a cancer immunotherapy called Loqtorzi, in 2023. Jonathan GardnerSanofi is investing $40 million in Vigil Neuroscience, a biotech developing drugs for neurodegenerative diseases. The deal gives Sanofi an exclusive right of first negotiation to license from Vigil an experimental antibody aimed at the protein TREM2. Vigil has one such medicine in early-stage testing for Alzheimers disease treatment. The biotech, which went public in 2022but has lost much of its value since, said the deal will extend its cash runway into 2026. Gwendolyn WuLantheus Holdings, a developer of radiopharmaceutical drugs and diagnostics, paid $35 million to acquire rights to what it calls a radiotheranostic pair from Life Molecular Imaging. The pair consists of a lutetium-based treatment and a gallium-based diagnostic for prostate cancer, both aimed at the gastrin-releasing peptide receptor. Discovered at the Universities Bern and Basel, the pair was initially developed by Bayer and then licensed to Life Molecular. Lantheus plans to start a Phase 1/2a study of the radiopharmaceutical next year, with the gallium-based agent used as a companion diagnostic. Ned PagliaruloEuropean venture capital firm Forbion has hired former Dyne Therapeutics CEO Josh Brumm to help expand its presence in the U.S. Brumm will serve as a general partner and support Forbions current portfolio companies as well as source new opportunities in the U.S. and Europe, the firm said Thursday. Though Forbion is based in the Netherlands, about 30% of its investments are in the U.S. and Canada. Gwendolyn Wu '