At the start of this year, Aeglea BioTherapeutics was looking like it may go out of business. Now, rebranded as Spyre Therapeutics, it is looking to the future with a new chief executive and another $180 million in private financing from existing and new backers.
After its own rare disease pipeline led by pegtarviliase for classical homocystinuria failed a phase 1/2 trial, Aeglea pared back its headcount and in June agreed to buy Spyre in a stock-swap deal that gave it a series of long-acting antibodies for immunological diseases, headed by SPY001 and SPY002 for inflammatory bowel disease.
Last week, that deal came to its fruition with a formal name change to Spyre, the appointment of Spyre chief operating officer Cameron Turtle as the new company’s CEO, and the start of trading on the Nasdaq under the ‘SYRE’ ticker.