Amylyx shores up pipeline with rights to GLP-1 antagonist

2 July 2024

Amylyx Pharmaceuticals (Nasdaq: AMLX) has acquired the rights to Eiger Biopharmaceuticals’ (Nasdaq: EIGR) experimental drug avexitide for $35.1 million.

Avexitide, a glucagon-like peptide-1 (GLP-1) receptor antagonist, was developed for post-bariatric hypoglycemia and congenital hyperinsulinism.

The move follows the failure of Amylyx’s lead amyotrophic lateral sclerosis (ALS) therapy, Relyvrio (sodium phenylbutyrate/taurursodiol).

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