With $600M in private funding, Alumis gears up to go public

10 Jun 2024
firstwordpharma.com
Phase 2Clinical Result
On the heels of a $259-million March megaround, inflammation-focused Alumis is now gunning to pivot its private success – having garnered more than $600 million in total funding – in the public markets. The biotech joined the IPO queue on Monday and also shared updated timelines for its two clinical candidates, which are in development for several autoimmune and neurodegenerative diseases.
Alumis’ lead compound is ESK-001, an oral TYK2 inhibitorTYK2 inhibitor that the company is setting up to compete with Bristol Myers Squibb’s Sotyktu (deucravacitinib) in the oral psoriasis treatment space. For more, see KOL Views Q&A: Leading dermatologist lays out decision tree for psoriasis treatments.
In March, Alumis shared 12-week, Phase II data for the experimental treatment at the American Academy of Dermatology (AAD) annual meeting showing that, among moderate-to-severe plaque psoriasis patients treated with 40mg of ESK-001 twice-daily, 64.1% achieved PASI-75, 38.5% achieved PASI-90, and 15.4% achieved PASI-100.
The benefit improved further over time, as an ongoing label-extension study demonstrated. At 16 weeks, 90% of patients reached PASI-75, 57% saw PASI-90, and 35% achieved PASI-100, comparing favourably to the Phase III data on Sotyktu’s label.
Alumis plans to start a Phase III trial next half of ESK-001 in patients with moderate-to-severe plaque psoriasis.
Beyond psoriasis
The company is also evaluating ESK-001 in two separate, ongoing Phase II trials.
The OPTYK-1 proof-of-concept trial in non-infectious uveitis is expected to report topline data by year-end, and the LUMUS study in systemic lupus erythematosus will read out in 2026.
Alumis’ portfolio also includes A-005, a brain-penetrant compound in development for neuro-inflammatory diseases such as multiple sclerosis (MS). Data from a Phase I trial in healthy volunteers are due by year-end.
According to Alumis, genetic data have shown that “naturally occurring TYK2 loss-of-function genetic variant has a protective effect in MS." The company said it has also demonstrated that protective effect in in vivo models of neuroinflammation.
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