Avidity Biosciences found an eager buyer for its neuroscience pipeline when Novartis shelled out approximately $12 billion to acquire the RNA drug developer, in a deal completed late last month.
But when it came to Avidity’s preclinical precision cardiology programs, including collaborations with Bristol Myers Squibb (BMS) and Eli Lilly, Novartis wasn’t as interested. So, the programs, plus two other programs pursuing undisclosed targets, were spun out into a new company formed to develop drugs capable of delivering RNA directly to the heart to treat rare, life-threatening genetic cardiomyopathies.
The spinout, Atrium Therapeutics, is funded with approximately $270 million in cash and cash equivalents. Atrium has identified two lead candidates: ATR 1072, a treatment for protein kinase AMP-activated non-catalytic subunit Gamma 2 (PRKAG2) syndrome, and ATR 1086, a treatment for phospholamban (PLN) cardiomyopathy.
Atrium plans to submit its first investigational new drug (IND) filing for a…
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