Idera Pharma Acquires Rare Disease Player, Names New CEO

Author: Vandana Singh | September 29, 2022 09:52am

Idera Pharmaceuticals Inc (NASDAQ:IDRA) acquired Aceragen Inc, a privately-held biotechnology company focused on rare, orphan pulmonary, and rheumatic diseases.
The combined cash of the two companies is expected to provide a runway into Q3 2023, funding the advancement of Aceragen's pipeline, including ACG-701 and ACG-801, through important 2023 clinical milestones.
The company estimates an annual peak sales potential of $650 million from the three current lead programs.
Vincent Milano, Idera's former CEO, has been named Chairman. John Taylor, the former CEO of Aceragen, is the new CEO of the combined company.
ACG-701 is a sodium fusidate formulation for acute pulmonary exacerbations (PEx) associated with cystic fibrosis (CF) and melioidosis.
The Phase 2 trial of ACG-701 in CF PEx is expected to begin in Q4 2022. Data is expected in Q2 2023.
The melioidosis program for ACG-701 is supported by $51 million in funding from the Defense Threat Reduction Agency due to its potential use as a medical countermeasure.
The TERRA study is underway, with interim analysis expected in Q1 2023; complete Phase 2 data is expected in Q2 2023.
ACG-801, recombinant human acid ceramidase, is an investigational biologic enzyme replacement therapy for Farber disease.
The company expects to initiate the ADVANCE clinical study for ACG-801 in Farber disease in Q1 2023, with data expected in Q1 2024.
Price Action: IDRA shares are up 1.46% at $0.39 on the last check Thursday.