Two Biotechs File for IPO to Advance Innovative Therapies for Obesity and Depression

Jan 30, 2024 08:00 CST Updated 08:01

Fractyl

Minimally Invasive Surgical Therapy and Medical Device Developer

Alto Neuroscience

Mental Health Treatment Drug Developer

▎Edited by the WuXi AppTec content team

Following last weekCG OncologyAndArriVent BiopharmaAfter a Successful IPO，Fractyl Health, dedicated to developing innovative therapies for obesity, and Alto Neuroscience, aimed at transforming the new drug development model in the field of mental illness, stated in filings with regulatory authorities that they will seek an IPO, with an estimated total financing of approximately $190 million.

Fractyl Health is dedicated to developing innovative therapies for the treatment of type 2 diabetes and obesity. The company’s pipeline includes aA gene therapy expressing GLP-1 receptor agonists in the pancreas, this therapy is expected to allow patients with obesity to maintain weight loss without the need for long-term GLP-1 receptor agonist treatment.The company plans to raise $99 million through its IPO.

Previously published preclinical study results showed that, in rodent models of obesity,Twenty-eight days after a single infusion of the company's gene therapy GLP-1 PGTx, mice showed a 27% reduction in body weight, while the control group receiving continuous treatment with semaglutide (10 nmol/kg/day) exhibited a 21% decrease in body weight during the same period.This difference is statistically significant. These findings suggest that targeted GLP-1 PGTx delivery can achieve lasting weight loss in obese animals with just a single dose.

▲Fractyl Health's Gene Therapy R&D Pipeline (Image Source:Fractyl Health (Company Website)

Dr. Amit Etkin, CEO of Alto Neuroscience, Inc., expressed in an interview with the content team of WuXi AppTec that he hopesPrecision psychology therapies that screen patients through biomarkers could transform the new drug development model in the field of mental health.The company plans to raise $89 million through its IPO.

Last year, the company announced the Phase 2a clinical trial results of its investigational therapy ALTO-300 for the treatment of major depressive disorder (MDD) at the 62nd Annual Meeting of the American College of Neuropsychopharmacology (ACNP).Positive Results. It is worth noting that,After ALTO-300 administration, some patients identified through EEG biomarkers showed significant clinical improvement in depressive symptoms and higher remission rates.。

▲Alto Neuroscience, Inc. R&D Pipeline (Image Source:(Alto Neuroscience, Inc. official website)

Six therapies in the company’s R&D pipeline have entered the clinical development stage. The funds raised will be used to advance the clinical development of the leading small molecule therapy ALTO-100 for the treatment of MDD through Phase 2b clinical trials, and to move ALTO-300 into Phase 2b clinical development.

Alto Neuroscience, Inc. also plans to launch Phase 2 clinical trials of the PDE4 inhibitor ALTO-101 and the H3 receptor inverse agonist ALTO-203 this summer for the treatment of cognitive impairment associated with schizophrenia and MDD patients with high levels of anhedonia, respectively.

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References:

[1] Mid-stage CNS biotech Alto Neuroscience plots $89M IPO. Retrieved January 29, 2024, from https://endpts.com/mid-stage-cns-biotech-alto-neuroscience-plots-89m-ipo/

[2] Fractyl has the GUTS: Obesity and diabetes biotech charts $99M IPO. Retrieved January 29, 2024, from https://endpts.com/obesity-biotech-fractyl-health-eyes-99m-ipo-after-cg-and-arrivent-success/

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