ObsEva shares crater after PhIII fail; Allena Pharma unveils positive late-stage data
→ Swiss biotech ObsEva SA — focused on treatments to improve women’s reproductive health — shared some dismal news today when it announced that its Phase III clinical trial of nolasiban in women undergoing embryo transfer following in-vitro fertilization failed to meet its primary endpoint to increase the ongoing pregnancy rate at 10 weeks. The company’s stock $OBSV lost nearly half in value, trading at $3.99 on Thursday morning.
→ Allena Pharmaceuticals — developing oral enzyme therapeutics for patients with severe metabolic and kidney disorders — has announced positive results from its Phase III URIROX-1 trial evaluating reloxaliase in patients with enteric hyperoxaluria (EH). The drug meeting the primary endpoint in “demonstrating a statistically significant change from baseline in 24-hour urinary oxalate excretion compared to placebo.
→ PathAI has closed its Series B funding, bagging $75 million — which brings its total investment since founding in 2016 to $90 million. The AI-powered tech company was able to secure investments from the Merck Global Health Innovation Fund and Bristol-Myers Squibb. The funding was led by General Atlantic and General Catalyst, with additional participation from LabCorp.
→ After recently joining forces with Editas Medicine, AskBio is teaming up with another biotech, SQZ Biotechnologies. The two companies are collaborating to “solve one of gene therapy’s biggest challenges” – the barrier to treatment posed by patients’ immune systems, which tend to generate neutralizing antibodies toward therapeutic vectors.