Indianapolis-based Elevate Ventures said it made the investment through the 21st Century Research & Technology Fund, which is reserved for Indiana companies.
Named AZD3293, the drug belongs to a novel class of drugs that block production of amyloid, a protein that causes plaque to build up in the brain of Alzheimer’s patients.
Unprecedented results from a cardiovascular study on a diabetes medicine sold by Eli Lilly and Co. turns up the pressure on rival Novo Nordisk, which will release data from a similar study on its competing drug next year.
The experimental medicine, called romosozumab, showed better results than Eli Lilly and Co.’s Forteo after 12 months, Amgen and UCB said in a joint statement Wednesday.
Shares of Eli Lilly and Co. stagnated in Wednesday morning trading as investors and patients wished that the effects of solanezumab were more pronounced. Rival Biogen offered muddy results from its own Alzheimer’s drug.
After years of pipeline failures, Eli Lilly and Co. is on a bit of a hot streak. This month alone, the Indianapolis-based drugmaker has reported positive results from clinical trials of four experimental drugs.
The results of an experimental drug for Alzheimer’s disease provide the best evidence so far that the memory-robbing condition is caused by an errant protein in the brain. Drugmakers including Eli Lilly have been concentrating their Alzheimer’s research on that area.
If approved, Baricitinib may bring Lilly $673 million in 2020, according to the average of five analysts’ estimates compiled by Bloomberg.
The Indianapolis-based drugmaker said Thursday that peglispro produced statistically significant lower blood sugar levels in patients when compared to people who took the Sanofi insulin Lantus in two late-stage studies of people with type 1 diabetes.
Lilly expects to soon announce late-stage clinical trial results for two biotech drugs designed to slow the inflammation caused by autoimmune diseases. By the end of the year, it will announce results for a third.
Results of a Roche clinical trial mirror those produced by an experimental Lilly drug two years ago. Lilly executives say that validates their approach in the multi-billion-dollar race to market the first drug to reverse Alzheimer’s.
With federal health research funding in decline, Indianapolis-based Regenstrief Institute Inc. wants to make up the difference by serving pharmaceutical companies, medical device makers, health insurers and hospital systems.
Endocyte Inc.’s stock fell more than 60 percent in early trading Friday after the drug it’s developing with Merck & Co.’s backing failed to help patients in a trial for ovarian cancer.
The European Committee for Medicinal Products for Human Use is scheduled to meet March 17-20, and analysts expect the agency to vote during that meeting to approve vintafolide, Endocyte’s first drug, which treats ovarian cancer.
Since 1998, there have been more than 100 attempts to develop an Alzheimer’s treatment, and all have failed. Such a product may generate as much as $5 billion annually for Merck, according to analysts