Albireo reveals $385K price tag for newly approved pruritis drug; Jennifer Doudna's Caribou upsizes IPO
Albireo scored a big breakthrough when it won approval by the FDA and EMA this week for Bylvay (odevixibat), the first drug approved to treat pruritus in patients suffering from all forms of progressive familial intrahepatic cholestasis. And they wasted no time in rolling out a jaw-dropping price. In a call with analysts on Wednesday, company execs outlined a weight-based approach they say will create an average per-patient price of $385,000.
The company expected this approval and had set up a full commercialization plan, with reimbursement assistance and a plan to do everything they can to make sure payers cover the bulk of the cost.
Peak sales projections have run a full gamut of numbers. And even though their price is high, top sales may not amount to big numbers. Cowen put peak US sales in 2026 at $163 million. — John Carroll
Caribou upsizes IPO ahead of offering
Ahead of an anticipated IPO either later Thursday or Friday, the Jennifer Doudna-backed Caribou Biosciences is saying they’re getting more interest than expected.
Caribou upsized its IPO offering by 26% ahead of the pricing, per Renaissance Capital, pinning the raise estimate at $255 million. The range is expected to fall between $14 to $16 per share, and Caribou will offer 3.5 million more shares to keep up with demand.
The biotech is using its CRISPR-based DNA-RNA hybrid platform to create chRDNA therapies, pronounced “chardonnay” like the wine. Caribou has an off-the-shelf CAR-T targeting CD-19 making its way through a Phase I study in B-cell non-Hodgkin lymphoma.
Caribou filed for an IPO at the beginning of July after netting a $115 million Series C round back in March. — Max Gelman
ProfoundBio recruits Synaffix for ADC efforts
In making any antibody-drug conjugate, selecting the right linker-payload is critical, ProfoundBio CEO Baiteng Zhao says — which is why he’s promising up to $246 million for Synaffix’s ADC platform tech.
The companies inked a licensing deal on Thursday for Synaffix’s GlycoConnect and HydraSpace technologies. Coming out of Radboud University, GlycoConnect relies on glycans as an anchoring point in antibodies, enzymatically removing them to create space for the payload. HydraSpace, on the other hand, is Synaffix’s way of extending ADCs’ half lives.
While ProfoundBio will be responsible for the research, development, manufacturing and commercialization of its ADC products, Synaffix will focus on the manufacturing of components specifically related to its platforms.
“The ProfoundBio team brings multiple decades of valuable ADC development experience from Seattle Genetics (now Seagen) and MSD. into our collaboration,” Synaffix CEO Peter van de Sande said in a statement. — Nicole DeFeudis