Ropes & Gray represented Amylyx Pharmaceuticals in acquiring a first-in-class glucagon-like peptide-1 (GLP-1) receptor antagonist, avexitide, from Eiger BioPharmaceuticals that is ready for Phase 3 trials for post-bariatric hypoglycemia (PBH), a common complication of bariatric surgery, and congenital hyperinsulinism (HI). The transaction was announced on July 10. Under the agreement, Amylyx acquired avexitide for $35.1 million.
The U.S. Food and Drug Administration (FDA) has granted avexitide Breakthrough Therapy Designation for both indications, Rare Pediatric Disease Designation in congenital HI, and Orphan Drug Designation for the treatment of hyperinsulinemic hypoglycemia (which includes PBH and congenital HI).
The Ropes & Gray team included life sciences licensing partner Hannah England, business restructuring partner Cristi Schwarzman, tax partner Scott Pinarchick, life sciences regulatory & compliance partner Kellie Combs and health care partner Eve Brunts.
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