Amylyx pivots post-ALS setback with GLP-1 antagonist deal

Amylyx Pharmaceuticals, which faced a setback earlier this year with the withdrawal of its ALS drug Relyvrio (sodium phenylbutyrate/taurursodiol), announced on Wednesday its entry into the GLP-1 market through the acquisition of a Phase III-ready drug for $35.1 million. This acquisition was made through a deal with Eiger BioPharmaceuticals, a company that sought bankruptcy protection in April.

Amylyx co-CEOs Joshua Cohen and Justin Klee expressed their enthusiasm for the new acquisition, highlighting that the data supporting avexitide met the company's scientific and community standards. They emphasized their eagerness to advance the research on this promising asset.

The GLP-1 receptor antagonist, avexitide, has undergone testing in five clinical trials aimed at treating post-bariatric hypoglycaemia (PBH). The drug has also been granted breakthrough therapy status by the FDA for both PBH and congenital hyperinsulinism. Avexitide is formulated to alleviate hypoglycaemia by reducing insulin secretion and stabilizing blood glucose levels.

This acquisition marks a strategic shift for Amylyx, which had previously relied heavily on its sole pipeline asset, AMX0035, known as Relyvrio. Relyvrio was discontinued in April following the failure of a confirmatory study in ALS. Nonetheless, Amylyx continues to explore the potential of AMX0035 in other rare diseases, including Wolfram syndrome and progressive supranuclear palsy.

Amylyx’s move into the GLP-1 space with avexitide diversifies its pipeline and reduces its dependency on Relyvrio. This strategic acquisition aligns with the company's mission to explore new avenues for growth and innovation in the pharmaceutical industry. 

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