MedCity News June 28, 2024
Alumis’s lead drug candidate blocks TYK2, an inflammation target that’s already addressed by Sotyktu, a Bristol Myers Squibb drug approved for plaque psoriasis. Alumis plans to begin two Phase 3 tests in this indication later this year.
Immunology and inflammation biotech Alumis has demonstrated its lead drug candidate can hit a certain validated target to treat plaque psoriasis. Now the company has $250 million for pivotal tests that could show whether this small molecule keeps up with a competitive field that includes pharmaceutical giants going after this same target.
Alumis joined the public markets Friday after pricing its offering of about 13.12 million shares at $16 each, raising $210 million. In preliminary IPO terms set earlier this week, South San...
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