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Galecto’s decision to discontinue its idiopathic pulmonary fibrosis candidate after disappointing Phase IIb results represents the latest in a number of mid/late-stage failures to treat the disease.
The family-owned German group is the market leader in idiopathic pulmonary fibrosis with Ofev but the big-selling drug has significant side effects and only slows, but does not stop, the progression of the disease. It is hoping that the Phase III-ready compound BI 1015550 will offer a significant improvement.
The impact of the coronavirus pandemic on the size of the pharma R&D pipeline in 2020 could be felt in a number of ways.
Private Company Edition: China-focused Nuance Pharma led recent venture capital deals with a $181m series D round, RayzeBio closed a $105m series B and SciNeuro launched with $100m plus other notable rounds from Edgewise, Reneo, BioAge and others.
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