Rallybio slashes workforce as it narrows focus on Phase II-ready programmes

06 Feb 2024
firstwordpharma.com
Phase 1Phase 2
Rallybio said Tuesday that it will be laying off 19 employees, or 45% of its workforce, as it looks to direct resources towards advancing its Phase II-ready clinical stage programmes, RLYB212 and RLYB116. Company shares jumped 20% on the news.
"We believe that these difficult, but necessary decisions to streamline our operations and align resources are critical to extend our cash runway…and put us on a path toward long-term success," said CEO Stephen Uden. The company estimates these actions will extend its cash runway into mid-2026.
Rallybio is developing RLYB212, an anti-HPA-1a antibody, to prevent foetal and neonatal alloimmune thrombocytopenia (FNAIT). Pending feedback from the European Medicines Agency (EMA), Rallybio says it continues to expect to initiate a Phase II study for RLYB212 in pregnant women at higher risk of FNAIT in the second half.
Last year, the company said preliminary data and the company's own clinical pharmacology modeling predictions supported a once-monthly dosing regimen for the planned Phase II study.
Meanwhile, RLYB116 is a once-weekly, subcutaneously injected complement C5 inhibitorcomplement C5 inhibitor in development for patients with complement-mediated diseases. Rallybio says it is "encouraged" by recent work on its manufacturing process that suggested the possibility of enhancing tolerability with higher doses of RLYB116.
"While the exposure levels of RLYB116 demonstrated in the Phase I study are expected to be suitable for the treatment of patients with generalised myasthenia gravis, the company believes ongoing enhancements will enable higher exposure to RLYB116, supporting the treatment of patients with a broader range of complement-mediated diseases, including paroxysmal nocturnal hemoglobinuria and antiphospholipid syndrome," it said.
Rallybio added that the actions are expected to fund its preclinical programme activities through to key 2024 milestones. These candidates include the MTP-2 inhibitor RLYB331 (KY1066), acquired via a deal with Sanofi, with data expected in the first half of 2024. The company is also working on an ENPP1 inhibitorENPP1 inhibitor with Exscientia, and the C5 inhibitor RLYB114 with EyePoint Pharmaceuticals.
For more details,please visit the original website
The content of the article does not represent any opinions of Synapse and its affiliated companies. If there is any copyright infringement or error, please contact us, and we will deal with it within 24 hours.
Organizations
Indications
Targets
Drugs
Get started for free today!
Accelerate Strategic R&D decision making with Synapse, PatSnap’s AI-powered Connected Innovation Intelligence Platform Built for Life Sciences Professionals.
Start your data trial now!
Synapse data is also accessible to external entities via APIs or data packages. Leverages most recent intelligence information, enabling fullest potential.