June 26, 2020 / 7:03 AM / 11 days ago

Molecular Partners's AbbVie-partnered eye drug gets FDA safety snub

FILE PHOTO: The logo of Swiss biotechnology company Molecular Partners is seen in Schlieren, Switzerland May 23, 2017. REUTERS/Arnd Wiegmann

ZURICH (Reuters) - Swiss drugmaker Molecular Partners has suffered a setback after the U.S. Food and Drug Administration said the company’s abicipar product for a blindness-causing eye disease had an unfavorable risk-benefit profile due to inflammation.

Molecular Partners, which with abicipar was aiming for its first commercial product, has partnered on the medicine for macular degeneration with AbbVie unit Allergan, and has been hoping a successful launch would help bring in milestone payments to help fund the Swiss company’s other projects.

“AbbVie plans to meet with the FDA to discuss their comments and determine next steps,” a statement on Molecular Partners’ website said.

Reporting by John Miller, editing by John Revill

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