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Neuraly Inc, a clinical stage biotechnology company pioneering disease-modifying agents for neurodegenerative disorders, today announced the completion of patient enrollment in its Phase 2 study of NLY01 for Parkinson’s disease (PD). NLY01, Neuraly’s lead development asset, is a glucagon-like peptide 1 receptor (GLP-1R) agonist that has been demonstrated to inhibit pathological activation of microglia by binding upregulated GLP-1R in animal models of neurodegenerative diseases such as PD. In doing so, NLY01 has demonstrated the ability to inhibit neuroinflammation and prevent neuronal cell death, offering a potentially first-of-its-kind, disease-modifying therapy capable of slowing the progression of PD. The Phase 2 study has enrolled 255 patients across 60 clinical sites in the United States and Canada. The randomized, double-blind, placebo-controlled trial is designed to assess the safety, tolerability, and efficacy of NLY01 in subjects with early PD. Enrolled patients have been randomized to receive either weekly injections of NLY01 (2.5 mg or 5.0 mg) or placebo for 36 weeks. Following 36 weeks of treatment, investigators will evaluate the impact of treatment with NLY01, as compared to placebo, using the Unified Parkinson's Disease Rating Scale assessment (MDS-UPDRS). Top-line study results are expected in the first half of 2023. “We are pleased to announce the completion of enrollment in this important study as it moves us another step closer to the highly anticipated readout of data from the trial. Based on the novel mechanism of action of NLY01 in neurodegenerative diseases, we believe the compound has the potential to represent a breakthrough in the treatment of Parkinson’s disease by offering the ability to slow, or even halt, the progression of the disease. We are eager to see if the findings of this large Phase 2 study validate that belief and provide support for the ongoing advancement of NLY01 as a potentially disease-modifying agent for Parkinson’s patients,” said Seulki Lee, Ph.D., president and chief executive officer of Neuraly. “NLY01 has been well-tolerated, and patients have managed the injections without difficulty,” said Andrew Siderowf, M.D., MSCE, Hurtig-Stern professor of neurology and chief of the movement disorders division in the University of Pennsylvania Perelman School of Medicine. “With the close of enrollment for the NLY01-PD-1 trial, I am looking forward to the completion of the study, which evaluates a treatment that addresses a potential patho-mechanism in PD." Results from a previously completed a Phase 1 clinical trial demonstrated NLY01 to be well-tolerated and capable of providing near continuous exposure to target therapeutic levels of the drug with once-weekly dosing. In that study, the compound demonstrated an impressive pharmacokinetic profile, highlighted by a half-life of 12.5 days, which provided increased exposure to the drug as compared to currently approved GLP-1 agonists. This is particularly critical for treating conditions such as PD and Alzheimer’s disease (AD) as it allows for increased delivery of the drug into the brain. Furthermore, preclinical studies of NLY01 have consistently demonstrated impressive efficacy in models of PD, AD, multiple sclerosis, glaucoma and retinal diseases. “Today, there remains a critical unmet need in the area of Parkinson’s disease treatment. Current therapies are severely limited by their ability to only treat symptoms of the disease and do so in a transient manner. Patients who are battling the continuous decline in function that is associated with Parkinson’s disease require new treatments that are able to prevent the neuronal cell death that drives its progression,” said Viktor Roschke, Ph.D., chief scientific officer of Neuraly. “By specifically inhibiting microglial activation and the formation of neurotoxic astroglial cells that are known to trigger neuroinflammation and neuronal cell death, we believe that NLY01 has the potential to provide these patients with the type of disease-modifying therapy that can truly make a meaningful difference in their lives. With this in mind, we are excited to complete the ongoing Phase 2 trial and review the top-line data that are expected to be available in the first half of 2023.”

ProKidney LP (“ProKidney”), a leading clinical-stage cellular therapeutics company focused on chronic kidney disease (“CKD”), has entered into a definitive agreement to become a publicly traded company via a business combination with Social Capital Suvretta Holdings Corp. III (“SCS”) (Nasdaq: DNAC), a special purpose acquisition company. Upon closing, the transaction will accelerate ProKidney’s mission to change the lives of tens of millions of CKD patients through a first-of-its-kind disease-modifying autologous cellular therapy. Chronic Kidney Disease: One of the Most Prevalent and Expensive Medical Conditions CKD leading to kidney failure is one of the most prevalent and expensive medical conditions to treat. Today, more than one in seven U.S. adults – or approximately 15% of U.S. adults – suffer from some form of CKD. If left untreated, many CKD patients progress to end-stage renal disease (“ESRD”) or kidney failure and require dialysis or kidney transplant. With no known disease-modifying therapies targeting CKD leading to kidney failure, current treatment options are limited to drugs, such as ACEs/ARBs, SGLT2’s, DPP-IV’s, or GLP-1’s, that incrementally slow the loss of kidney function and onset of ESRD and dialysis. These treatments can cause a great economic and emotional burden on patients and their families because they require adjusting many aspects of everyday living. In 2018, annual Medicare spend on CKD and ESRD was approximately $130 billion. Combined with spend from private health payers, total annual costs to treat CKD and ESRD reached up to $500 billion in the United States alone. This huge economic burden is compounded by a surging number of CKD patients around the world, with prevalence in the United States and the European Union projected to grow by 22% between 2020 and 2040 – expanding to more than 90 million people – underscoring the dire need for a more effective treatment option that can also address the economic burdens associated with treating this disease. ProKidney Offers a Transformative Therapy to the CKD Challenge ProKidney’s lead product candidate, REACT® (Renal Autologous Cell Therapy), has the potential to not only slow the progression of CKD, but in some cases drive meaningful improvement in kidney function – a groundbreaking first in CKD therapies. A cell therapy product produced from a patient’s own kidney cells, REACT® comprises a proprietary mixture of progenitor cells that have been grown and purified, so they can be placed back into the patient’s kidney. This minimally invasive procedure, starting with a standard biopsy, provides the cells that harness the body's intrinsic ability to repair and restore damaged kidney tissue. The reinjection procedure has been shown to be safer than contemporary biopsy and renal failure treatment options, such as dialysis and organ transplant. REACT® is the outcome of almost 20 years of development by ProKidney and its predecessors, including working on the basic science and mechanism of action, the proprietary cell admix and manufacturing process, the minimally invasive outpatient injection procedure and, most recently, running Phase 1 and Phase 2 clinical trials. ProKidney’s patented REACT® therapy is part of its broad-based intellectual property (“IP”) strategy. The company has filed more than 200 patents worldwide for its product, cell admix, and manufacturing process. Strong Initial Clinical Results and Path to Commercialization for REACT®: Promising interim data from Phase 2 clinical trial in diabetic patients with CKD stages 3a, 3b, and 4 (moderate-to-severe kidney disease): Majority of patients achieved disease stabilization or improved kidney function. Improvement in kidney function significantly reduces risk of ESRD or need for kidney transplant. Phase 3 clinical trial launch: As a result of its performance in Phase 1 and 2 trials, ProKidney’s REACT® has received Regenerative Medicine Advanced Therapy (“RMAT”) designation, allowing for ongoing and regular interaction with regulators during the Phase 3 program. The Phase 3 program,initiated in January 2022, may enroll up to 1,500 participants withprimary analysis projected to occur in 2025. Opportunity to make a difference for millions of patients globally while potentially delivering significant cost savings for the healthcare system: >75 million CKD patients in the United States and the European Union. CKD patient population in the United States and the European Union is projected to grow by 22% between 2020 and 2040, in part due to the escalating prevalence of diabetes, obesity, and heart disease. Initial REACT® target market: 4-5 million diabetic patients with CKD stages 3a, 3b, and 4 at very high risk of renal failure with severe albuminuria and eGFR’s between 20-50 ml/min/1.73m2 in the United States. With the potential to delay or prevent ESRD, REACT® has the potential to drive significant cost savings over the long term. Today, ESRD patients remain on dialysis for 5-10 years on average, which costs an average of $93,000 per patient per year, with Medicare (and up to 4x more for private insurers).1 By improving patients’ quality of life, the treatment may also reduce the use of medication. Over time, and subject to receipt of regulatory approvals, ProKidney intends to expand to the European Union and additional markets, including China, Japan, Korea, the Middle East, Latin America, Australia, and New Zealand, as well as into additional indications, including congenital anomalies of the kidney, polycystic kidney disease, and other genetically based kidney diseases. Robust manufacturing capabilities and clear go-to-market strategy: ProKidney has a comprehensive manufacturing plan to achieve its supply goals, with commercial launch of REACT® targeted for late 2025 to mid-2026. While conducting the Phase 3 development program, ProKidney will build a launch facility program with manufacturing capabilities initially targeting supply for 20,000 patients per year. Post launch, ProKidney plans to build additional manufacturing facilities with the ability to serve an additional 40,000 to 45,000 patients per year. ProKidney’s management team, led by Founder and CEO Tim Bertram, brings over 200 years of combined experience in the discovery, development, manufacturing, and commercialization of biotechnology, pharmaceutical, and device products. ProKidney also has an experienced board led by chairman Pablo Legorreta, founder and CEO of Royalty Pharma (Nasdaq: RPRX), the world's largest publicly listed acquirer of pharmaceutical royalty streams, bringing broad financial and scientific expertise with his successful track record in biopharma development and investing. The ProKidney board of directors also includes Dr. Brian Pereira, president and CEO of Visterra, Inc., former president and board member of the National Kidney Foundation and former editor of the widely read textbook “Chronic Kidney Disease, Dialysis, and Transplantation.” Transaction Overview and Use of Proceeds The transaction is expected to deliver up to $825 million in gross cash proceeds, including the contribution of up to $250 million of cash held in SCS’s trust account, assuming no redemptions by SCS public shareholders, and a fully committed PIPE of $575 million at $10 per share. These proceeds will be primarily used to fund REACT®’s Phase 3 development program, accelerate ProKidney’s manufacturing buildout, and ultimately prepare for the global commercial launch of REACT®. The PIPE is led by a $125 million contribution from Social Capital, with an additional $50 million from ProKidney’s existing investors, approximately $30 million from Suvretta Capital’s Averill strategy with the remaining $370 million coming from institutional investors and family offices. Existing ProKidney equity holders will roll 100% of their equity into the combined company and will be eligible to receive up to 17.5 million additional SCS shares pursuant to an earnout based on ProKidney’s future stock performance. Existing ProKidney shareholders and management have also committed to lock up 50% of their equity interests until the earlier of five years or regulatory market authorization, including full or conditional authorization, to market its lead product candidate, REACT®, subject to certain customary exceptions. Upon closing of the transaction, the combined company will trade on the Nasdaq under the symbol "PROK." The transaction, which has been approved by the boards of directors of both SCS and ProKidney and ProKidney’s equity holders, is expected to close in the third quarter of 2022 and is subject to approval by SCS's shareholders and other customary closing conditions. Advisors Citigroup acted as sole financial advisor and capital markets advisor to ProKidney. Citigroup, Morgan Stanley, Evercore, Jefferies, and UBS acted as placement agents for a portion of the PIPE. BofA Securities acted as capital markets advisor to SCS. Wachtell, Lipton, Rosen & Katz acted as legal advisor to SCS. Davis Polk & Wardwell LLP and Mintz, Levin, Cohn, Ferris, Glovsky and Popeo, P.C acted as legal advisors to ProKidney. Winston & Strawn LLP is serving as legal advisor to the PIPE placement agents. Investor Conference Call Management of ProKidney and SCS will host an investor conference call on January 18, 2022 at 8:30 AM ET to discuss the proposed transaction and review an investor presentation. For those investors who wish to participate, the conference call can be accessed by visiting . About ProKidney ProKidney, a pioneer in the treatment of chronic kidney disease (CKD) through innovations in cellular therapy, was founded in 2015 after a decade of research. ProKidney’s lead product candidate, REACT® (Renal Autologous Cell Therapy), is a first-of-its-kind, patented disease-modifying autologous cellular therapy with the potential to not only slow and stabilize the progression of CKD, but in some cases drive meaningful improvement in kidney function. REACT® has received Regenerative Medicine Advanced Therapy (RMAT) designation, as well as FDA and EMA guidance, supporting an immediate start to its Phase 3 clinical program, which launched on schedule in January 2022. About Social Capital At Social Capital, we make big bets on transformational ideas, technology, and people. We strategically invest in smart, profit-minded opportunities and forward-thinking social investments that have the potential to shape a better future. We do this from a balance sheet of permanent capital to support entrepreneurship at all stages. This allows us more flexibility to double down on our convictions, without the limitations of traditional fund structures, and gives founders the runway and resources necessary to succeed. We believe in the outsized potential of for-profit businesses to drive impact in the world. We aim to set a new standard for what capitalism can be. About Social Capital Suvretta Holdings Corp. III Social Capital Suvretta Holdings Corp. III is led by Chamath Palihapitiya and Kishen Mehta and is a blank check company formed for the purpose of effecting a merger, amalgamation, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses. The company is focused on businesses operating in the biotechnology industry and within the organ space subsector.

Eli Lilly’s new dual glucagon-like peptide-1/gastric inhibitory peptide (GLP-1/GIP) agonist, tirzepatide, is likely to gain significant market share across the GLP-1 class and the wide type 2 diabetes (T2D) market. Eli Lilly has gained significant market share across the GLP-1 and sodium-glucose transport protein-2 (SGLT-2) drug classes with Trulicity (dulaglutide) and Jardiance (empagliflozin), respectively. In head-to-head studies, the company has proven that tirzepatide has superiority over its main competitor, Novo Nordisk’s semaglutide. The dual agonist has also proven to be efficacious in tackling obesity and cardiovascular risk factors associated with T2D. As such, it is likely to maintain Eli Lilly’s long-term dominance in the GLP-1 space after the patent expiry of Trulicity in 2027. Additionally, the strong clinical data relating to obesity provides access to an entirely separate market and directly competes with Novo Nordisk’s Wegovy (semaglutide). Key opinion leaders (KOLs) interviewed by GlobalData have reported that they are keen to prescribe a therapy that can address levels of glycated hemoglobin and obesity. In a head-to-head study between tirzepatide and semaglutide, its likely main competitor, tirzepatide’s estimated mean change from baseline in the level of glycated hemoglobin was -2.01%, -2.24% and -2.3% with 5mg, 10mg and 15mg doses, respectively, while semaglutide’s was -1.86%. The estimated differences between the 5mg, 10mg, and 15mg tirzepatide groups and the semaglutide group were −0.15 percentage points (95% confidence interval [CI], −0.28 to −0.03; P=0.02), −0.39 percentage points (95% CI, −0.51 to −0.26; P<0.001), and −0.45 percentage points (95% CI, −0.57 to −0.32; P<0.001), respectively. The results demonstrate that tirzepatide, at all doses, is non-inferior and superior to semaglutide. Additionally, the data for reductions in bodyweight demonstrate that they were greater with tirzepatide than with semaglutide (-1.9kg, -3.6kg, -5.5kg for all doses, respectively; P<0.001). Another advantage for tirzepatide in comparison to other GLP-1s was that it had only mild adverse events, which were primarily gastrointestinal. In patients with T2D, tirzpeatide was found to be noninferior and superior to semaglutide regarding the mean changes in the glycated hemoglobin levels. Because tirzepatide demonstrated this superiority, it is likely to become a leading therapeutic in the GLP-1 space in addition to the wider T2D market. There is an increasing need for therapeutics that can address the additional comorbidities of T2D such as obesity and cardiovascular disease. The fact that tirzepatide addresses this need will likely increase its popularity with physicians. Obesity is closely associated with T2D and due to the ongoing Covid-19 pandemic, a greater spotlight has been placed on therapeutics that can address weight reduction. Thus, tirzepatide will likely achieve positive uptake as a result. GlobalData forecasts that tirzepatide will become a market leader in the GLP-1 space for both T2D and obesity and will likely overtake the market share of semaglutide toward the end of the decade.