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Sanofi Injects $27M In Neurology Drug Developer Ventyx Biosciences
2024-09-23 23:13
On Monday, Sanofi SA (NASDAQ:SNY) agreed to make a $27 million strategic investment in Ventyx Biosciences Inc (NASDAQ:VTYX).
“We look forward to strengthening our relationship with Sanofi as the VTX3232 clinical programs progress, with data from the Phase 2a trial in patients with early Parkinson’s disease and data from the Phase 2 trial in subjects with obesity and additional cardiometabolic risk factors, both expected in 2025,” Ventyx CEO Raju Mohan said.
The company also agreed to grant Sanofi an exclusive right of first negotiation with respect to certain VTX3232 program rights.
Also Read: Ventyx Biosciences’ Inflammatory Bowel Disease Candidate Flunks In Mid-Stage Study, Company Looks For Partner To Pursue It Further.
The proceeds are expected to be sufficient to fund planned operations into at least the second half of 2026.
VTX3232 is geared toward neuroinflammatory and neurodegenerative conditions, including Parkinson’s disease, cardiometabolic disease, Alzheimer’s disease, and multiple sclerosis, among others.
In the first quarter of this year, Ventyx announced results from a Phase 1 trial of VTX3232 in adult healthy volunteers where steady-state exposures achieved with once-daily doses of VTX3232 exceeded the interleukin-1β (IL-1β) IC90 in both plasma and cerebrospinal fluid over 24 hours.
Current development plans for VTX3232 include a Phase 2a trial in patients with early Parkinson’s disease and a Phase 2 trial in subjects with obesity and additional cardiometabolic risk factors. Data from both trials are expected in 2025.
Price Action: VTYX stock up 17.9% at $2.71 at last check Monday.
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