Evelo’s Phase II Data Suggest Strong Position In Mild-To-Moderate Psoriasis
Analysts say biotech’s EDP1815 may offer similar efficacy to Amgen’s Otezla, with better safety. Evelo says data offer new proof for its small intestinal axis approach to inflammatory disease.
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The company said the first three cohorts of its Phase II atopic dermatitis study failed, while another trial with a faster-release formulation of EDP1815 continues, along with a Phase III study in psoriasis.
Public Company Edition: Valuations have fallen enough in 2022 to lead some companies to wind down operations, but a recent uptick opened a window for a few offerings. Chinook raised $105m in a follow-on offering, while Flagship led a $79.2m registered direct offering for Evelo.
Innovent is paying the Danish biotech $20m upfront for the China rights to the mid-stage PDE4 inhibitor that is being developed for psoriasis, atopic dermatitis and hidradenitis suppurativa.