Aeglea BioTherapeutics will assume the name of the drug developer it reverse merged with earlier this year, Spyre Therapeutics, as the biotech focuses on its race against TL1A antibodies at Merck, Roche and Sanofi.
Aeglea BioTherapeutics may be turning a corner. The biotech has managed to sell off its rare metabolic disease asset—which the FDA denied approval for last year—to Immedica Pharma for $15 million cash and the potential to make up to $100 million in milestones.
A new biotechnology company with plans to develop better bowel disease drugs emerged Thursday with hundreds of millions of dollars in funding and a deal that places it on the public markets.
Employees at Aeglea BioTherapeutics who survived the company’s previous two rounds of layoffs may be left wondering whether it was worth it, as the biotech effectively throws in the towel in response to the latest data from one of its two remaining rare disease candidates.
Aeglea BioTherapeutics’ cost-cutting drive has had limited effect on its cash runway, with the biotech still barreling toward a fourth-quarter funding showdown despite recent cuts to its pipeline and head count.
Aeglea BioTherapeutics Appoints Linda Neuman, M.D., M.B.A, to Chief Medical Officer
AUSTIN, Texas, Nov. 3, 2022 /PRNewswire/ -- Aeglea BioTherapeutics, Inc. (NASDAQ:AGLE), a clinical-stage biotechnology company developing a new generation of human enzyme therapeutics as innovative solutions for rare metabolic diseases, today announced financial results for the third quarter ended September 30, 2022 and provided program updates.