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Posted On: 06/16/2022 9:33:13 PM
Post# of 154852
NASH and Pfizer
NASH-focused Akero Therapeutics extends its runway by another year with Pfizer's help
by Lei Lei Wu
Two years ago, Akero Therapeutics laid out what one analyst called the "best-in-class NASH data so far" in a field littered with trial failures and ambiguous readouts. Following those interim Phase II results, Akero embarked on a larger Phase II trial that is supposed to report out later this year.
But things weren’t looking up for the San Francisco-based biotech when it revealed in its Q1 earnings report that it had just a year and a half of cash left — not enough to push its drug into pivotal Phase III clinical trials that would support an FDA approval.
https://endpts.com/a-perpetual-loser-at-the-h...loid-flop/
Enter Pfizer and Hercules Capital.
Pfizer will invest $25 million via its Breakthrough Growth Initiative to buy approximately 6.7% of Akero, and Pfizer’s VP of discovery & development Jeff Pfefferkorn will get a seat on Akero’s newly formed scientific advisory board. Alongside Pfizer, venture lending company Hercules will loan up to $100 million to Akero, with $10 million available immediately.
https://endpts.com/a-perpetual-loser-at-the-h...loid-flop/
NASH-focused Akero Therapeutics extends its runway by another year with Pfizer's help
by Lei Lei Wu
Two years ago, Akero Therapeutics laid out what one analyst called the "best-in-class NASH data so far" in a field littered with trial failures and ambiguous readouts. Following those interim Phase II results, Akero embarked on a larger Phase II trial that is supposed to report out later this year.
But things weren’t looking up for the San Francisco-based biotech when it revealed in its Q1 earnings report that it had just a year and a half of cash left — not enough to push its drug into pivotal Phase III clinical trials that would support an FDA approval.
https://endpts.com/a-perpetual-loser-at-the-h...loid-flop/
Enter Pfizer and Hercules Capital.
Pfizer will invest $25 million via its Breakthrough Growth Initiative to buy approximately 6.7% of Akero, and Pfizer’s VP of discovery & development Jeff Pfefferkorn will get a seat on Akero’s newly formed scientific advisory board. Alongside Pfizer, venture lending company Hercules will loan up to $100 million to Akero, with $10 million available immediately.
https://endpts.com/a-perpetual-loser-at-the-h...loid-flop/
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