Izokibep is a fusion protein commercialized by Acelyrin, with a leading Phase III program in Hidradenitis Suppurativa. According to Globaldata, it is involved in 11 clinical trials, of which 6 were completed, 1 is ongoing, and 4 were terminated. GlobalData uses proprietary data and analytics to provide a complete picture of Izokibep’s valuation in its risk-adjusted NPV model (rNPV). Buy the model here.
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The revenue for Izokibep is expected to reach an annual total of $70 mn by 2040 in the US based off GlobalData’s Expiry Model. The drug’s revenue forecasts along with estimated costs are used to measure the value of an investment opportunity in that drug, otherwise known as net present value (NPV). Applying the drug’s phase transition success rate to remaining R&D costs and likelihood of approval (LoA) to sales related costs provides a risk-adjusted NPV model (rNPV). The rNPV model is a more conservative valuation measure that accounts for the risk of a drug in clinical development failing to progress.
Izokibep Overview
Izokibep (ABY-035) is under development for the treatment of posterior uveitis, panuveitis, non-infectious uveitis, hidradenitis suppurativa, intermediate uveitis. It is administered through subcutaneous route. ABY-035 is a IL-17A blocking molecule. It is developed based on affibody technology. Affibody molecules are antibody mimetics with superior characteristics surpassing monoclonal antibodies and antibody fragments. It was also under development for Takayasu arteritis.
It was also under development for the treatment of ankylosing spondylitis(AS) and musculoskeletal inflammation, patients with moderate-to-severe plaque psoriasis, active psoriatic arthritis.
Acelyrin Overview
Acelyrin is a biopharma company that identifies, acquires, and accelerates the development and commercialization of transformative medicines. It focuses on creating value for patients and shareholders. The company’s pipeline products include izokibep, Lonigutamab (anti-IGF-1R), XLRN-517 (anti-C-KIT). Acelyrin pipeline treats hidradenitis suppurativa, psoriatic arthritis, axial spondyloarthritis, uveitis, thyroid eye disease and chronic urticaria. The company collaborates with partners, pharmaceutical companies, early-stage start-ups, and academicians in identifying and developing products. It is also involved in the development of the Los Angeles Biotech Hub. Acelyrin is headquartered in Agoura Hills, California, the US.
The operating loss of the company was US$422.1 million in FY2023, compared to an operating loss of US$69.2 million in FY2022. The net loss of the company was US$381.6 million in FY2023, compared to a net loss of US$64.8 million in FY2022.
For a complete picture of Izokibep’s valuation, buy the drug’s risk-adjusted NPV model (rNPV) here.
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GlobalData, the leading provider of industry intelligence, provided the underlying data, research, and analysis used to produce this article.
To create this model, GlobalData takes into account factors including patent law, known and projected regulatory approval processes, cash flows, drug margins and company expenses. Combining these data points with GlobalData’s world class analysis creates high value models that companies can use to help in evaluation processes for each drug or company.
The rNPV method integrates the probability of a drug reaching a clinical stage into the cash flow at that time, which provides a more accurate valuation, as it considers the probability that the drug never makes it through the clinical pathway to commercialization. GlobalData’s rNPV model uses proprietary likelihood of approval (LoA) and phase transition success rate (PTSR) data for the indication in the highest development stage, which can be found on GlobalData’s Pharmaceutical Intelligence Center.
