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Biotech startup Alnara to be acquired by Eli Lilly

Fri, 07/02/2010 - 7:34am
Mass High Tech: The Journal of New England Technology

Cambridge biotech Alnara Pharmaceuticals Inc. has agreed to be acquired by Eli Lilly and Company, bringing the Indianapolis pharmaceutical giant an inroad into enzyme replacement therapy, used to treat diseases such as cystic fibrosis.

Alnara’s lead product is liprotamase, a non-procine pancreatic enzyme replacement therapy being reviewed by the U.S. Food and Drug Administration to treat exocrine pancreatic insufficiency, which is caused by cystic fibrosis, chronic pancreatitis and pancreatectomy. The drug candidate completed its Phase 3 clinical study with the Cystic Fibrosis Foundation Therapeutics Inc.

No financial details of the acquisition were disclosed.

Alnara was co-founded in 2008 by Alexey Margolin, Rich Aldrich and Christoph Westphal. It’s investors include Third Rock Ventures, Frazier Healthcare, MPM Capital, Bessemer Venture Partners and Longwood Founders Fund. The company’s formation and success ties closely to the demise of another local biotech –  Altus Pharmaceuticals Inc., formerly of Waltham – which housed the executives, scientists and intellectual property that now belong to Alnara.

Westphal is a 2007 Mass High Tech All Star.

Read more about Eli Lilly’s acquisition of Alnara in the press release.

 

 

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