(0) Primary study endpoint demonstrates 86 percent response rate for patients receiving co-therapy of KRYSTEXXA and mycophenolate mofetil
Horizon Therapeutics plc (Nasdaq: HZNP) announced the publication of data from the first randomized controlled clinical trial (RCT) of KRYSTEXXA (pegloticase injection) concomitantly used with an immunomodulator, mycophenolate mofetil, in
Arthritis Rheumatology [doi.org/10.1002/art.41731].
The Reducing Immunogenicity of Pegloticase (RECIPE) trial demonstrated that 86 percent of patients (19 of 22) receiving co-therapy of KRYSTEXXA with the immunomodulator mycophenolate mofetil achieved serum uric acid (sUA) 6 mg/dL at 12 weeks, the primary study endpoint, compared to 40 percent of patients (4 of 10) receiving KRYSTEXXA monotherapy. The safety and efficacy of KRYSTEXXA co-prescribed with mycophenolate mofetil has not been established by any health authorities.
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Caribbean News Global
April 7, 2021
Transaction values Better Therapeutics at a pro forma fully diluted enterprise value of approximately $187 million with existing Better Therapeutics shareholders rolling over 100% of their equity into equity of the combined company
Transaction expected to provide up to $113 million of cash proceeds, including a fully committed $50 million PIPE and up to $57.5 million of cash held in the Mountain Crest II trust account assuming no redemptions
The PIPE was led by
Farallon Capital Management,
Better Therapeutics also received commitments through a separate private placement of $6 million
Transaction is expected to close in the summer of 2021, with the combined company expected to trade on the Nasdaq Capital Market under the symbol “BTTX”
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