May 9 Quick Takes: Madrigal adds co-primary endpoint to NASH study

Ahead of top-line data due in 4Q22, Madrigal Pharmaceuticals Inc. (NASDAQ:MDGL) said it added a second primary endpoint to the Phase III MAESTRO-NASH trial of selective thyroid hormone receptor β agonist resmetirom. Madrigal has elevated an endpoint measuring the proportion of patients with one-point reduction in fibrosis scores to become a primary endpoint, alongside a prior endpoint evaluating resolution of non-alcoholic steatohepatitis. The company said that if resmetirom meets either endpoint, that could suffice as a basis for seeking accelerated approval. Madrigal also said Monday that it had drawn the first $50 million of a $250 million term loan facility from Hercules Capital Inc. (NYSE: HTGC).

EureKING S.A. is raising €150 million ($157.7 million) as the first Euronext-listed healthcare SPAC to acquire a CDMO in the biologics or cell/gene therapy manufacturing space. Launched by investment firm eureKARE, the blank check company is led by a management team with healthcare experience, including SPAC CEO Michael Kloss, who was previously chairman and CEO of Panasonic Healthcare. The SPAC said it already in the early stages of a competitive bidding process for an acquisition target. The vehicle is targeting a European-based CDMO with an enterprise value of €200- €500 million that specializes in one of three areas: biologics manufacturing, cell/gene therapy manufacturing, or live biotherapeutics manufacturing. The offer period for the IPO closes May 10...