Biopharmaceutical company Amylyx Pharmaceuticals Inc (NASDAQ: AMLX) on Wednesday announced the acquisition of avexitide, a novel GLP-1 receptor antagonist, from Eiger BioPharmaceuticals Inc.

Avexitide has received FDA Breakthrough Therapy Designation for post-bariatric hypoglycemia (PBH) and congenital hyperinsulinism (HI).

The GLP-1 receptor antagonist has shown significant efficacy in reducing severe hypoglycemic events in Phase 2 trials for PBH, achieving FDA-supported primary endpoints. Phase 3 trials for PBH are expected to commence in Q1 2025, with data anticipated in 2026. Avexitide demonstrated a favorable safety profile across five clinical trials.

Amylyx plans to integrate avexitide into its pipeline, which includes treatments for Wolfram syndrome, progressive supranuclear palsy and amyotrophic lateral sclerosis (ALS). The acquisition aligns with Amylyx's focus on addressing high unmet medical needs.