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According to the second-quarter earnings report released by Biogen this Thursday, the company's two gene therapies BIIB111 and BIIB112 failed trials and lost up to 542 million U.
S.
dollars
.
One of the losses came from gene therapy BIIB111 (timrepigene emparvovec)
.
The gene therapy failed to effectively correct the eyesight of patients in the late trials without choroidalemia, and BIIB111 did not achieve secondary goals in the trial
Another loss comes from the setback of the gene therapy BIIB112 trial
.
In May of this year, Bojian announced the results of the XIRIUS trial of gene therapy BIIB112 for the treatment of X-linked retinitis pigmentosa
X-linked retinitis pigmentosa is a rare inherited retinal disease.
The most common cause is mutations in the RPGR gene.
As the photoreceptor cells of the retina gradually degenerate, the patient will gradually lose vision and eventually become completely blind
.
Bojian has always hoped that gene therapy can provide patients with rare eye diseases with a once-and-for-all option
The two gene therapies, BIIB111 and BIIB112, were obtained by Bojian in March 2019 when it acquired Nightstar Therapeutics, a British ophthalmic gene therapy company, for US$877 million
.
Bojian CEO Michel Vounatsos said in a statement at the time that ophthalmology is the next emerging growth area for Bojian
In addition, the Nav1.
7 ion channel blocker vixotrigine, which is used to potentially treat the chronic pain disease trigeminal neuralgia, also caused a loss of 44.
3 million U.
S.
dollars to Bojian
.
After the poor performance of this therapy in a phase 22b trial of lower back and leg sciatic nerve pain involving more than 300 people, Bojian gave up the development of vixotrigine
Bojian's financial report for the second quarter of 2021 showed that Bojian's revenue in the second quarter was US$2.
775 billion, a year-on-year decrease of 25%
.
By business, the sales revenue of Bojian's products in the second quarter was US$2.
Despite the setbacks in the development of multiple gene therapies, the company’s controversial Alzheimer’s disease treatment drug Aduhelm was finally approved by the U.
S.
Food and Drug Administration (FDA) in June this year.
It has also become the first approved drug for Alzheimer's disease in the United States in the past 20 years
.
Since the drug has just gone on sale this quarter, the report claims that Aduhelm has received nearly $2 million in revenue
.
But analysts said the drug is expected to generate $1 billion in revenue in 2022
Reference source: Biogen takes $542M hit over 2 failed gene therapy trials as Aduhelm revenue trickles in
