Amylyx Acquires GLP-1 Receptor Antagonist for $35M to Fill Pipeline Gap

1. Acquisition Details: Amylyx Pharmaceuticals has purchased a GLP-1 receptor antagonist from Eiger Biopharma for $35.1 million to fill a gap in its pipeline after the withdrawal of Relyvrio for amyotrophic lateral sclerosis (ALS).
2. Background: Relyvrio, also known as AMX0035, was approved in September 2022 but failed in a phase 3 trial and was subsequently withdrawn from the market.
3. New Direction: The GLP-1 receptor antagonist, avexitide, was previously under development for post-bariatric hypoglycemia (PBH) and congenital hyperinsulinism (HI).
4. Metabolic Space: Amylyx is familiar with the metabolic space, as Relyvrio is also being studied in Wolfram syndrome, a neurodegenerative disease that causes early childhood onset of diabetes and other complications.
5. Future Plans: Amylyx plans to meet with the FDA to discuss interim data from a phase 2 trial called Helios, which showed improved pancreatic beta cell function, glycemic control, and vision in patients with Wolfram syndrome.