AbbVie Inc. shares plummeted after two mid-stage trials of its schizophrenia drug, emraclidine, failed to meet primary goals, showing no statistically significant improvement in symptom severity. This setback poses a challenge to the company's recent $8.7 billion acquisition of Cerevel Therapeutics. AbbVie plans to analyze the trial data to determine future steps.
Axonis Therapeutics has secured $115 million in a Series A financing round led by Cormorant Asset Management and venBio Partners to develop innovative treatments for neurological disorders. The funds will advance a drug targeting KCC2, aimed at treating epilepsy and pain, into human trials this year, while also supporting next-generation compounds for various psychiatric and neurodevelopmental conditions. The investment reflects a growing interest in precise neurological therapies, as evidenced by recent acquisitions in the biotech sector.
AbbVie has agreed to acquire Aliada Therapeutics for $1.4 billion, gaining access to innovative drug delivery technology aimed at overcoming the blood-brain barrier and a clinical-stage Alzheimer’s treatment, ALIA-1758. This move aligns with AbbVie’s focus on neuroscience, enhancing its capabilities in developing therapies for neurological disorders. The deal is expected to close by year-end and reflects a strategic investment in a sector facing challenges but also potential breakthroughs.
AbbVie has received FDA approval for Vyalev, a novel combination therapy for advanced Parkinson’s disease that delivers carbidopa and levodopa via a 24-hour infusion, addressing challenges with oral medications. This approval follows two previous rejections and is based on positive results from late-stage clinical trials. Patient access will vary by insurance, with Medicare coverage anticipated in late 2025, and AbbVie projects peak annual sales could exceed $1 billion.
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