- Roadens existing pipeline with a monoclonal antibody against a novel target, glucose-dependent insulinotropic polypeptide (GIP)
- First planned indication is Prader-Willi Syndrome
- IND-enabling studies ongoing with first-in-human studies anticipated in 2023
- Transaction does not impact corporate guidance and company remains fully financed into 2023 with co-lead programs' in short bowel syndrome (Phase 2) and in celiac disease (Phase 3)
9 Meters Biopharma, Inc. (NASDAQ: NMTR), a clinical-stage company focused on rare and unmet needs in gastroenterology, today announced that the Company has acquired global development rights to a proprietary and highly specific humanized monoclonal antibody (mAb), LOB-0136 (now known as NM-136) that targets glucose-dependent insulinotropic polypeptide (GIP), in addition to related intellectual property from Lobesity LLC, a privately-held biotechnology company focused on breakthrough research and development for metabolic diseases and related disorders.
GIP is a hormone found in the upper small intestine that is released into the blood after food is ingested. Its concentration increases significantly with overeating, leading to higher glucose absorption and greater insulin release. These changes lead to increased glucose uptake into fat cells, which can contribute to obesity and obesity-related disorders such as Prader-Willi Syndrome (PWS). Occurring in approximately one out of every 20,000 births, PWS is recognized as the most common genetic cause of life-threatening childhood obesity.
NM-136, an anti-GIP mAb, has been shown to prevent GIP from binding to its receptor and to decrease nutrient absorption from the intestine. In preclinical obesity models, it has been shown to markedly decrease weight and abdominal fat and to improve lipid profiles. 9 Meters plans to continue the manufacturing optimization and IND-enabling studies, as well as to conduct a clinical proof-of-concept study in PWS in 2023.
“Continuing to advance NM-136 will be a very important step forward for patients currently living with PWS and suffering from this life-threatening disease,” said John Temperato, President and Chief Executive Officer of 9 Meters. “This meaningful therapeutic complements and broadens our pipeline of digestive disease assets, while providing us strategic options within our expanded portfolio.”
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Daniel Lewis, Chief Executive Officer of Lobesity added, “We’re excited to see our science continue through the development process with the 9 Meters team. Their expertise in the digestive disease space and commitment to patients leaves our team confident that one day patients with PWS may benefit from this novel drug which has shown positive preclinical results.”
9 Meters and Lobesity have agreed to an asset purchase agreement, pursuant to which 9 Meters will acquire LOB-0136, related analogs, and all related intellectual property and other related assets of Lobesity for a combination of 40% cash and 60% equity consideration in the form of a $5 million upfront payment (with equity priced at 9 Meters’ 30-day volume-weighted average price immediately prior to the closing of the transaction and issued in the form of unregistered common stock), plus the right to contingent payments including certain worldwide regulatory and clinical milestone payments totaling up to $45.5 million, global sales-related milestone payments totaling up to $50 million and, subject to certain adjustments, a mid-single-digit royalty on worldwide net sales.
Source: Biospace