Allyx Therapeutics hopes to advance ALX-001, an mGluR5 modulator for Alzheimer’s disease, in clinical trials in 2021
NEW HAVEN, Conn., January 13, 2021 / PRNewswire-PRWeb / – Today, Allyx Therapeutics announced the conclusion of a license agreement with Bristol Myers Squibb to develop Allyx’s new therapy for Alzheimer’s disease. The contract includes a sub-license of certain rights of Yale University. To protect vulnerable neurons and preserve cognition in Alzheimer’s patients, Allyx hopes to take ALX-001, a small molecule modulator of the glutamate 5 metabotropic receptor (mGluR5), licensed by Bristol Myers Squibb, for clinical testing in 2021.
Alzheimer’s disease is a devastating disease with more than 5.6 million patients in the United States alone, without any disease-modifying therapy. Innovative therapeutic approaches are desperately needed, as previous attempts to remove beta-amyloid plaques and, more recently, the removal of tau protein have failed to show effectiveness. New strategies are needed that address the underlying biology of the disease, in addition to the accumulation of plaque or entanglement.
In the brain, synapses transmit signals between neurons and allow cognition. Recent clinical evidence highlights the loss of synapses as the main factor for the progression of Alzheimer’s disease. Robust scientific evidence establishes that targeting mGluR5 can provide beneficial effects. In a crucial discovery published in Cell Reports by Allyx Co-Founder and Yale School of Medicine Professor Stephen Strittmatter, a mGluR5 modulator reversed the course of the disease in animal models of Alzheimer’s disease. Dr. Strittmatter said: “Our ideal preclinical tests for compounds targeting mGluR5 licensed by Bristol Myers Squibb have demonstrated robust efficacy and safety profile. early 2021. “ALX-001 is a small orally bioavailable molecule with excellent drug properties, including selectivity and penetration into the brain. In addition, clinical development is made possible by several brain imaging tools to establish brain exposure in humans and track their ability to preserve or reverse the loss of synapses in patients.
“The unmet medical need for a safe and effective treatment for Alzheimer’s disease is enormous, and the Bristol Myers Squibb licensed mGluR5 modulator shows great promise in this regard,” said Dr. John Puziss, Executive Director of Business Development at the Yale Office of Cooperative Research. “We are grateful for the participation of the Allyx team to bring this important potential drug to the clinic.”
“Protecting the synapse is a compelling treatment justification for a devastating disease,” he said. Stephen Bloch, MD, CEO of Allyx Therapeutics. “We are looking forward to moving ALX-001 through clinical trials early in 2021.”
Forward Looking Statements:
Certain statements in this press release are forward-looking within the meaning of the Private Securities Litigation Reform Act 1995. These statements can be identified by using forward-looking words, such as “anticipate”, “believe”, “predict” “estimate”, “wait” and “intend”, among others. There are several factors that could cause actual events to differ materially from those indicated by such forward-looking statements. These factors include, but are not limited to, risks related to failure to obtain FDA clearance or approvals and non-compliance with FDA regulations; delays and uncertainties caused by the global pandemic COVID-19; risks related to the time and progress of the clinical development of our product candidates; our need for additional financing; patent and litigation protection uncertainties; uncertainties regarding government or third party reimbursement; limited research and development efforts and dependence on third parties; and substantial competition.
About Allyx Therapeutics:
Founded in 2019, Allyx Therapeutics is a clinical stage biotechnology company based in New Haven, CT, developing new therapies to protect synapses from destruction in Alzheimer’s disease and other related neurodegenerative diseases. Allyx Therapeutics is launched with a main active modulator mGluR5, ALX-001, with clinical initiation expected in January 2021. More information is available at https://www.allyxthera.com.
About the Yale Office of Cooperative Research:
Since its founding in 1982, the Yale Office of Cooperative Research (OCR) has built a significant portfolio of inventions and patents and has become an engine of regional economic development. Its mission is to facilitate the translation of research Yale’s laboratories in products and services that benefit society. OCR is recognized as a leading force to catalyze economic growth by identifying, advising and nurturing technologies at an early stage and guiding the transition to robust companies. More information is available at https://ocr.yale.edu/.
Timothy Siegert, Allyx Therapeutics, +1 203-654-9211, firstname.lastname@example.org
Michelle McQueen, Yale University, Office of Cooperative Research, +1 917-370-6016, email@example.com
SOURCE Allyx Therapeutics