EQT’s Galderma announced Wednesday that its injectable drug nemolizumab was helping patients suffering from the rare skin disease prurigo nodularis in a trial, potentially supporting the owner’s ambitions to list the skincare company.
According to a report from Reuters news agency, late-stage research found that Galderma’s drug clears lesions and relieves itching in some patients. Itching is a chronic symptom of a potentially debilitating skin disease.
Sources told Reuters in May that EQT is delaying listing plans for Galderma as market volatility and recession fears in Europe cool investor interest in what could be Switzerland’s largest IPO in more than two decades.
The IPO could happen in the fall or early next year, depending on market conditions, the sources said at the time as quoted by Reuters.
The Japanese Maruho Co. Ltd is also working on a treatment for prurigo nodularis, while French drugmaker Sanofi is conducting trials to get its best-selling eczema drug Dupixent approved for the disease as well.
(With input from Reuters)