Probiodrug - Emerging details of PQ912 late-stage development
The highlight of Probiodrug’s FY17 results presentation was the rather detailed introduction of the Phase IIb development programme for the lead asset PQ912, a small molecule inhibitor of glutaminyl cyclase (QC) for Alzheimer’s disease (AD) patients. Two Phase IIb trials (in Europe and the US) are designed to gather the amount of data that, if sufficiently positive, could allow for accelerated or conditional regulatory approval. The first Phase IIb study in Europe is expected to start by end 2018 and Probiodrug is exploring all options for funding sources. After several modest changes to our model, our updated valuation is slightly higher at €513m, €62.4/sh.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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