Bob Azelby, Eliem CEO

'Re­sults are un­am­bigu­ous': Eliem's lead pro­gram fails and share price halves be­fore open­ing bell

When Eliem Ther­a­peu­tics launched last March, CSO Va­lerie Moris­set told End­points News that up­on be­ing ap­proached about mak­ing a leap to the biotech, she had orig­i­nal­ly in­tend­ed to “ba­si­cal­ly kill it and move along to the next op­por­tu­ni­ty.” In­stead, she joined the Seat­tle-UK biotech and quick­ly helped take it pub­lic a mere five months af­ter that stealth ex­it.

But it ap­pears Eliem will have to adopt Moris­set’s orig­i­nal line of think­ing and move along to the next op­por­tu­ni­ty as the start­up’s lead pro­gram has failed in a Phase IIa tri­al in pa­tients with di­a­bet­ic pe­riph­er­al neu­ro­path­ic pain (DP­NP). The pro­drug, ETX-810, will live on in a sec­ond in­di­ca­tion, with Phase IIa re­sults in lum­bosacral radic­u­lar pain, or sci­at­i­ca, slat­ed for the third quar­ter.

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