Provention Bio leaps on celiac drug deal with Amgen

9 November 2018

US clinical stage biotech Provention Bio (Nasdaq: PRVB) saw its shares leap 12.4% after it announced a deal with its much larger peer Amgen (Nasdaq; AMGN) for the co-development of AMG 714, now re-designated by Provention as PRV-015.

AMG 714 is a novel anti-IL-15 monoclonal antibody being developed for the treatment of gluten-free diet non-responsive celiac disease (NRCD). Development efforts at Provention will be led by researchers with previous experience developing AMG 714.

Amgen will invest $20 million in Provention during its next financing as part of the agreement, which will see Provention conduct and fund a Phase IIb trial and lead the next phase of development and regulatory activities for the program.

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