Deal Watch: NewAmsterdam To Take On Amgen’s Stalled CETP Inhibitor
New company licenses obicetrapib from Amgen after previous companies’ setbacks in CETP class and works with FDA on a Phase III protocol. BMS buys protein-engineering specialist Forbius.
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Positive Phase II data indicate that obicetrapib, a cholesterol-lowering drug licensed from Amgen, could succeed where prior drugs in the class have consistently failed for more than a decade.
Public Company Edition: NewAmsterdam grossed $328m in its SPAC merger, while Liminatus may raise up to $316m in a new SPAC deal. Also, Intellia and Iveric grossed $300m each in follow-on offerings, bluebird sold a PRV for $102m and MEI ends zandelisib development resulting in layoffs.
Years after failures by Merck, Lilly, Pfizer and Roche, NewAmsterdam hopes to bring a CETP inhibitor to market to lower cholesterol, and signs on with Menarini to lead commercial efforts in Europe.