About a year ago, the biotech startup Acelyrin appeared, with two industry veterans at the helm, with an unknown amount of funding, and plans to obtain a license for a drug candidate that initially focused on immunology. The company played cards near the vest, but now it provides more details because it has $250 million in funding and development plans that can challenge Novartis and Eli Lilly’s blockbuster biological therapies.
The new capital is a B round of financing, and Los Angeles-based Acelyrin announced its first project, an antibody used for clinical testing of a variety of inflammatory diseases. The drug, izokipeb, is licensed by Affibody, a Swedish company specializing in antibody drug development. The drug is designed to block the signaling protein interleukin-17A (IL-117A).In addition to being related to inflammation and autoimmune diseases, other Research Show that the protein plays a role in neurodegenerative diseases.
Izokipeb aims to overcome some of the limitations of antibody drugs. The volume of the drug is about one-tenth that of a monoclonal antibody, and it can be administered by subcutaneous injection instead of infusion. The smaller size also helps the drug reach target tissues that the larger monoclonal antibodies cannot enter. Affibody and partner Inmagene Biopharmaceuticals have advanced drug candidates to mid-term clinical development Ankylosing spondylitis, A rare form of arthritis, affects the ligaments and tendons of the vertebrae, causing them to fuse.
Biologic drugs approved for the treatment of ankylosing spondylitis include two monoclonal antibodies, both of which are IL-17A inhibitors. Novartis’ Cosentyx was approved by the FDA for the treatment of the disease in 2016, while Eli Lilly’s Taltz was approved in 2019. Cosentyx is Novartis’s best-selling product, with sales of more than US$1.2 billion in the third quarter; according to Novartis’s financial report, the company’s assets were US$3.4 billion for the nine months ended September 30. Taltz is Lilly’s top immunology product, generating US$593.1 million in the third quarter; financial reports show that revenue in the first nine months of this year exceeded US$1.5 billion.
Acelyrin pointed out that so far, more than 300 patients have received izkibep, some of which have lasted three years. The company said that these results show that the drug is safe, and also show that blocking IL-17A can treat many diseases. CEO Lin Shaoli said that New Capital will support the strategy.
“This financing promotes our ability to rapidly advance the late-stage development of izkibep, and proves its potential for differentiation in the IL-17 inhibitor category by unlocking new indications and achieving differentiated efficacy in existing blockbuster indications. , There is a major unmet need to persist in these indications,” Lin said in a prepared statement.
Acelyrin said that a phase 2b study is underway to test antibodies in axial spondyloarthritis. Axial spondylitis is an arthritis of the spine, and ankylosing spondylitis is a disease characterized by spinal fusion. The company is also recruiting patients to participate in key studies on uveitis, an inflammatory disease of the eye that causes vision loss. Another mid-term study plans to use the drug to treat hidradenitis suppurativa, which is an inflammatory disease of the exocrine sweat glands.
The license agreement with Affibody gives Acelyrin global rights to izkibep, except for certain Asian countries, where Shanghai-based Inmagene owns these rights. Affibody reserves the right to commercialize the drug in the Nordic countries. The financial terms of the transaction were not disclosed, but the two companies did add that the agreement granted Acelyrin the option to license additional Affibody molecules.
Acelyrin is led by co-founder Lin and the company’s chief operating officer Bob Cary. Both are veterans of Horizon Therapeutics. Acelyrin’s new round of financing is one month away from its first anniversary Start-up and Series A financing From Westlake Village BioPartners. The company, along with AyurMaya and Surveyor Capital, led the Series B financing announced on Tuesday. In addition to supporting the clinical development of izokibep, Acelyrin said that the funds will also be used for the licensing and acquisition of other drug projects, mainly immunology.
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