Ann Arbor, MI, biotech Esperion Therapeutics finally resolved the FDA snag standing in the way of its ambitious plans for a new cholesterol drug, clearing the company to begin late-stage trials with its potentially disruptive pill.
Esperion Therapeutics has taken another big stride along the clinical path for its cholesterol drug. The biotech reports that its drug ETC-1002 slashed levels of the bad cholesterol LDL, particularly when it was combined with Merck's Zetia, in a Phase IIb trial. And now that the mid-stage program is complete, the Ann Arbor, MI-based biotech finds itself at the threshold of a late-stage program with a drug the company feels can thread the market needle between cheap generics and a looming wave of rival biologics.
After a slight lull in the biotech IPO arena, new offerings came barreling back this week with some fresh breakouts. In particular Foundation Medicine priced over the range and immediately soared more than 80%. And Ophthotech also crested its range, erasing any lingering doubts about the short-term sustainability of the biotech IPO frenzy. Together they raised $273 million in a 24-hour pop. Read the report >>
During all of last year there were only 11 biotech IPOs. But even that weak number looked pretty good compared to the barren years leading away from the 2008 financial crisis. In the last 6 months, though, the industry has seen a tremendous rebound, with almost twice that number of IPOs in half the time. And there's no sign that the great leap into the public market is waning, with 10 more IPOs in the queue. Read the full report >>
Esperion Therapeutics got a warm reception after an upsized IPO that hauled in $70 million. The Plymouth, MI-based biotech company increased the offering size from 4.5 million to 5 million shares at $14 per share, hitting the midpoint of its proposed range of $13 to $15 per share.
The re-born Esperion Therapeutics is once again teaming up with researchers at the Cleveland Clinic to find new cholesterol therapies. The deal revives a relationship that was terminated when Pfizer,
After getting squashed in Pfizer's restructuring crunch, Esperion Therapeutics is reopening this week. The company, which specializes in cardiovascular and metabolic disease work, is hiring about 10
Pfizer has spun of Esperion Therapeutics into a new biotech company aiming to develop new therapies for cardiovascular and metabolic disease. A syndicate of investors funded the deal. Pfizer sold