Ann Arbor biotech firm believes cholesterol drug could top billions in sales
A biotech firm with dual headquarters in Ann Arbor and France believes that one of the drugs it's developing could be worth $5 billion to $8 billion in annual sales, Bloomberg reports.
Cerenis Therapeutics, which last year received the largest venture capital investment in Michigan in nearly four years, told the news agency that its drug could reach the market by 2017.
File photo | AnnArbor.com
The treatment, currently known as CER-001, would mimic high-density lipoprotein (HDL) cholesterol, the so-called "good" cholesterol that helps eliminate arterial plaque and reduce a patient's chances of cardiovascular disease.
"This could change the paradigm for the treatment of atherosclerosis,” Jean-Claude Tardif, director of the research center at the Montreal Heart Institute and lead investigator for the drug's current clinical work, told Bloomberg.
Biotech firms are known for bold statements that often aren't grounded in the grueling reality of the drug development process, which can take up to 20 years and $1 billion in funds.
But Cerenis' claims take on a sense of legitimacy because of the massive amounts of capital the firm has compiled and the fact that the firm is already attracting interest from major pharmaceutical firms.