Amylyx Purchases Investigational GLP-1 Drug Avexitide in Auction Deal for $35 Million

With the wild success of glucagon-like peptide-1 (GLP-1) drugs, Amylyx Pharmaceuticals is looking to explore the field as it has bought out avexitide, a Phase III ready GLP-1 receptor antagonist, for $35 million in an auction last month from bankrupt Eiger BioPharmaceuticals. The company is planning to pursue it for two rare metabolic disorders.