Vivek Ramaswamy’s Metavant hits a brick wall, abandoning a lead program for diabetes. And...

Discussion in 'Pharma/Biotech Companies - In the News' started by cafead, Nov 20, 2020 at 11:32 AM.

  1. cafead

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    via Metavant, Ramaswamy’s biotech #7, has decided not to advance its lead candidate imeglimin into Phase III, instead of looking for a quick sell-off. If it doesn’t secure a deal within 60 days, the rights go back to Merck KGaA spinout Poxel, which licensed the drug to Roivant — the parent company to Ramaswamy’s suite of “vants” — back in 2018 for $50 million in cash and up to $600 million in milestones.

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