Another Humira copycat comes through in PhIII; Tetra Discovery adds $10M for Alzheimer’s drug development
Add one more Humira biosimilar to your watch list. Momenta says that its Phase III of its knockoff succeeded in establishing its equivalence to the original. The trial met its primary and all secondary endpoints, according to a SEC filing. The news provided a bump in the company’s share price. Humira has attracted considerable attention from rivals which would like a slice of the megablockbuster market it enjoys. AbbVie, meanwhile, plans to spare no expense in delaying these knockoffs for as long as it can.
Grand Rapids, MI-based Tetra Discovery Partners has rounded up $5 million for its Series A round, bringing in the Apjohn Group and Grand Angels to a syndicate that already includes Dolby Family Ventures. Along with two new NIH grants totaling $5 million, the biotech says it will be ready to prepare for a launch a Phase IIa study of its Alzheimer’s drug, which targets PDE4 to enhance memory and learning.