Thomas Kuhn, Poxel

Vivek Ra­maswamy’s Meta­vant hits a brick wall, aban­don­ing a lead pro­gram for di­a­betes. And there’s noth­ing vis­i­ble left to see here

Just a few years af­ter Vivek Ra­maswamy’s epic Alzheimer’s fail, an­oth­er one of his star­tups is cut­ting its loss­es be­cause of a high-risk en­deav­or — this time on the di­a­betes front — didn’t pan out.

Meta­vant, Ra­maswamy’s biotech #7, has de­cid­ed not to ad­vance its lead can­di­date imeglim­in in­to Phase III, in­stead of look­ing for a quick sell-off. If it doesn’t se­cure a deal with­in 60 days, the rights go back to Mer­ck KGaA spin­out Pox­el, which li­censed the drug to Roivant — the par­ent com­pa­ny to Ra­maswamy’s suite of “vants” —  back in 2018 for $50 mil­lion in cash and up to $600 mil­lion in mile­stones.

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