Ann Arbor’s Millendo Therapeutics Inc., a clinical-stage biopharmaceutical company focused on developing treatments for orphan endocrine diseases, has merged with OvaScience Inc. in Waltham Mass.
The combined company will operate under the name Millendo Therapeutics and focus on the further development of Millendo’s orphan endocrine pipeline, including livoletide, a potential first-in-class treatment for Prader-Willi syndrome, which Millendo expects will enter a pivotal Phase 2b/3 trial in the first quarter of 2019.
The new entity also will continue development of nevanimibe, which is in Phase 2b clinical development for the treatment of classic congenital adrenal hyperplasia.
“The closing of the merger and concurrent financing (worth $85 million) represents a significant opportunity and milestone for Millendo, as we can now accelerate our work to bring life-changing therapies to market for rare endocrine diseases,” says Julia C. Owens, president and CEO of Millendo.
“We have two differentiated, late-stage endocrine therapies that have been observed to be well tolerated, and we believe address areas of significant unmet need. In September 2018, we initiated our Phase 2b trial of nevanimibe in CAH, and we look forward to the planned initiation of our pivotal Phase 2b/3 trial of livoletide for PWS in the first quarter of 2019.”
Owens retains leadership of the combined enterprise, which will be based in Ann Arbor.