Eight years after Eli Lilly dumped it, an upstart biotech has nabbed teplizumab and filed a $56M IPO to back a PhIII comeback
Eight years ago, a drug called teplizumab went down in flames after it failed in a pivotal diabetes study undertaken by Eli Lilly. But yesterday a little startup called Provention Bio in-licensed it from MacroGenics, the original developer, whipped around and today used it as their lead drug for a $56 million IPO filing.
Teplizumab wasn’t completely dead back in 2010 when Lilly dumped the whole thing. But it came awfully close to that.
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