June 26, 2020 / 6:53 AM / 11 days ago

Molecular Partners hopes for COVID-19 rebound after eye drug failure

ZURICH, June 26 (Reuters) - Molecular Partners aims to treat patients with its COVID-19 drug candidate this year, Chief Executive Patrick Amstutz said on Friday, as the Swiss company hopes it will help it recover from the failure of its eye drug abicipar.

Amstutz, who called the U.S. Food and Drug Administration’s snub of abicipar a “very disappointing moment”, said Molecular Partners was well-financed into the second half of 2021, despite the fact that a big milestone payment now will not come from AbbVie, its partner in the eye drug. (Reporting by John Miller; editing by David Evans)

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