Probiodrug - Support for Abeta theory from Biogen/Eisai
We believe one of the main reasons for the devaluation of Probiodrug’s shares over the past year was the largely disappointing industry newsflow frustrating research on Abeta theory, even though Probiodrug’s technology is differentiated from all other Abeta therapies studied in late-stage trials. The recent surprise announcement of disease-modifying effect obtained by Biogen/Eisai with their MAb BAN2401 in a Phase II trial may reignite interest in the amyloid theory and in the Alzheimer’s disease (AD) field in general. While funding and lack of visibility on a partnering deal are near-term risks, we find Probiodrug’s asset PQ912, a small molecule glutaminyl cyclase (QC) inhibitor, and its Phase IIa data interesting. In our view, any progress with raising new funds or finding a partnering would unlock substantial upside from the current low valuation level.Vivoryon Therapeutics AG Formerly known as Probiodrug AG. Vivoryon Therapeutics AG, formerly Probiodrug AG, is a Germany-based biopharmaceutical company active in the biotechnology and medical research industry. The Company focuses on the development therapeutic products for the treatment of Alzheimer's disease. It develops drugs to target toxic pyroglutamate-Abeta (pGlu-Abeta) via two modes of action, namely by inhibiting the production of pGlu-Abeta and by clearing existing pGlu-Abeta from the brain. The Company develops specific inhibitors for the enzyme Glutaminyl Cyclase (QC) helping in the creation of pGlu-Abeta and engineers a monoclonal antibody targeting pGlu-Abeta to enhance its clearance. Its product pipeline comprises PQ912 and PQ1565, small molecule QC inhibitors, as well as PBD-C06, a pGlu-Abeta specific monoclonal antibody.
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