Sept. 5 Company Quick Takes: Zafgen exploring alternatives; plus BridgeBio, Global Blood, Akouos, Mallinckrodt, uBiome
Zafgen evaluating strategic options
Metabolic company Zafgen Inc. (NASDAQ:ZFGN) has retained advisory firm MTS Health Partners to explore strategic alternatives after receiving new preclinical data that the company believes will be insufficient for FDA to lift a clinical hold on its second-generation methionine aminopeptidase 2 (MetAP2) inhibitor. FDA placed the hold in November on an IND for ZGN-1061 to treat Type II diabetes. Zafgen, which slipped 14% to $0.70on Thursday and has lost 98% of its value since October 2015, said it will seek to maximize shareholder value, potentially via a M&A transaction or licensing deal (see "Setback for Zafgen").
BridgeBio launches subsidiary for neuromuscular disease
BridgeBio Pharma Inc. (NASDAQ:BBIO) launched subsidiary ML Bio Solutions to develop BBP-418, a substrate supplementation therapy for limb-girdle muscular dystrophy type 2I. The compound originated from the McColl-Lockwood Laboratory for Muscular Dystrophy Research at Atrium Health, formerly Carolinas HealthCare System. ML Bio Solutions aims to begin a natural history study this half. BridgeBio in-licenses preclinical and clinical assets from academia and pharma and houses them in individual subsidiaries...