Eliem Therapeutics feels more pain

The difficulty of finding pain medications beyond troublesome opioids has been demonstrated again with the second, and final, failure of Eliem Therapeutics’ prodrug ETX-810. Today Eliem said it would halt all future development after ETX-810 bombed in a phase 2a sciatica trial, failing to beat placebo in reducing pain from baseline at four weeks. In April the group saw its shares more than halve when ETX-810 failed in diabetic peripheral neuropathic pain. Today, Eliem’s stock was down 11%, contributing to an 80% dip since the company's float less than a year ago. With ETX-810 out of the picture Eliem will pivot to ETX-155, its Gaba A modulator for major depressive disorder; a phase 2a trial is scheduled to start in the first quarter of 2023. On the upside the relatively swift termination of ETX-810 should allow the money Eliem raised at IPO to extend beyond mid-2024, and fund initial ETX-155 trials, but as Acadia Pharmaceuticals and others have found MDD is also a tough nut to crack; Sage Therapeutics is also much further along with its rival Gaba A project zuranolone, so with nothing else of note left in the pipeline this will be make or break time for Eliem.

Eliem Therapeutics Pipeline
Phase Product Mechanism of Action Indication  Status
    Phase II ETX-810 palmitoylethanolamide prodrug Sicatica/Diabetic neuropathy Abandoned
    Phase I ETX-155 Gaba A receptor  Major depressive disorder/epilepsy Phase 2a Q1 2023
    Pre-clinical Kv7 Program Kv7.2 potassium channel regulator Pain/epilepsy/depression Pre-clinical
  Anxiolytic research project - Generalised anxiety disorder Pre-clinical
Source: Evaluate Pharma/company releases

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