Eiger BioPharmaceuticals

About Eiger BioPharmaceuticals

Eiger BioPharmaceuticals, Inc. was a commercial-stage biopharmaceutical company founded in 2008, with a focus on developing and commercializing therapies for rare and ultra-rare diseases. The company was co-founded by David A. Cory and scientific founder Dr. Jeffrey S. Glenn. Cory, who served as President and CEO, brought over two decades of experience in the pharmaceutical and biotech industries, with a track record in commercialization and business development. Dr. Glenn, a Professor of Medicine at Stanford University, contributed his extensive research in molecular virology, which formed the scientific basis for some of the company's lead programs.

The company's business model centered on in-licensing and developing promising drug candidates to address significant unmet medical needs. Eiger's portfolio included several product candidates targeting severe conditions. One of its key products was Zokinvy® (lonafarnib), the first and only approved therapy for Hutchinson-Gilford Progeria Syndrome, an extremely rare and fatal premature aging disease. The pipeline also featured treatments for Hepatitis Delta Virus (HDV), such as lonafarnib boosted with ritonavir and peginterferon lambda. Additionally, the company was developing avexitide for rare metabolic disorders like post-bariatric hypoglycemia.

Despite achieving commercial-stage status and having multiple programs granted Breakthrough Therapy Designation by the FDA, Eiger faced significant financial challenges. In September 2023, the company suspended a late-stage Phase 3 study due to safety concerns, which made it difficult to secure necessary funding. This led to the company filing for Chapter 11 bankruptcy in April 2024 to facilitate an orderly wind-down and sale of its assets. As part of the bankruptcy proceedings, Eiger sold its assets in a series of transactions. Zokinvy® was sold to Sentynl Therapeutics, ensuring continued patient access. Other assets, including lonafarnib and peginterferon lambda, were acquired by Eiger InnoTherapeutics, a new entity founded by Dr. Jeffrey Glenn to continue their development. The company's Chapter 11 plan was confirmed in September 2024, and the process was completed by October 2024.