Apellis Pharma to restructure.
Apellis Pharmaceuticals, Inc., a global biopharmaceutical company and leader in complement, announced a corporate restructuring to drive growth of Synfovre (pegcetacoplan injection) and Empaveli (pegcetacoplan), positioning Apellis for long-term success.
This restructuring will include cost reduction initiatives that align with the Company’s near-term priorities and are expected to result in up to $300 million in total cost savings through 2024.Reducing Empaveli-related expenses through a more focused commercial and medical PNH organization. In the first half of 2023, Empaveli generated $42.7 million in U.S. net product revenues. More than 230 people in the U.S. with PNH were on commercial treatment as of June 30, 2023. Prioritizing development of systemic pegcetacoplan in immune complex membranoproliferative glomerulonephritis (IC-MPGN) and C3 glomerulopathy (C3G), rare kidney diseases with no approved treatments. Top-line data from the Phase III VALIANT study are expected in 2024.The Company does not plan to initiate any new clinical development programs with systemic pegcetacoplan.
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