07:46 AM EDT, 07/10/2024 (MT Newswires) -- Amylyx Pharmaceuticals ( AMLX ) said Wednesday that it has acquired avexitide for the potential treatment of hyperinsulinemic hypoglycemia from Eiger BioPharmaceuticals for $35.1 million.

Amylyx said it has also assumed certain contractual obligations from Eiger, including a 3% royalty on future sales of avexitide in post-bariatric hypoglycemia, if approved, to certain academic institutions.

The company said it expects to start the late-stage program for avexitide in Q1 2025, with data readout anticipated in 2026.

Avexitide has previously been granted breakthrough therapy designation from the US Food and Drug Administration, the company said.

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