Strike two for an erstwhile unicorn
Intarcia, a privately held Boston biotech company, raised more than $1 billion in private funding to get an under-the-skin implant onto the market. Two years and as many FDA rejections later, that plan looks to be in peril.
As STAT’s Kate Sheridan reports, the agency declined to approve ITCA-650, a device that metes out the diabetes treatment exenatide. That’s the second rejection for Intarcia, which resubmitted the product last year after the FDA said no in 2017.
A spokesperson said the company is “extremely disappointed” with the FDA’s decision. Intarcia cut its payroll and reshaped its C-suite and boardroom after the first rejection. The company is now three years removed from its last financing, and it’s unclear what the future holds.
Read more.
As STAT’s Kate Sheridan reports, the agency declined to approve ITCA-650, a device that metes out the diabetes treatment exenatide. That’s the second rejection for Intarcia, which resubmitted the product last year after the FDA said no in 2017.
A spokesperson said the company is “extremely disappointed” with the FDA’s decision. Intarcia cut its payroll and reshaped its C-suite and boardroom after the first rejection. The company is now three years removed from its last financing, and it’s unclear what the future holds.
Read more.
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