Where money goes and can anybody explain this?

[jethro]

ice bucket challange raised 100 mil usd.
what did they do?
nothing!

amylyx is a company with 7 employees, founded in 2013 by 3 students.
what did they do?

Amylyx Pharmaceuticals Announces Last Patient Completes Last Study Visit in CENTAUR Phase 2 Study of AMX0035 in ALS

www.bloomberg.com

Open Label Extension Study of AMX0035 in Patients With ALS - Full Text View - ClinicalTrials.gov

Open Label Extension Study of AMX0035 in Patients With ALS - Full Text View.

clinicaltrials.gov

results will be by the end of 2020.

 

[Kristina1]

your own article that you posted states that the amylyx study was funded in part by the Ice Bucket Challenge. While I agree that there are better places to donate your money to than ALSA (such as ALS TDI), ice bucket challenge money did support a lot of research.

 

[jethro]

your own article that you posted states that the amylyx study was funded in part by the Ice Bucket Challenge. While I agree that there are better places to donate your money to than ALSA (such as ALS TDI), ice bucket challenge money did support a lot of research.

please, could you point where article state that?

 

[Nikki J]

Paragraph 3
The CENTAUR study was the recipient of the ALS ACT grant, and is supported by
ALS Finding a Cure®,-a program of The Leandro P. Rizzuto Foundation, The ALS
Association, the Northeast ALS Consortium, Massachusetts General Hospital
Neurology Clinical Research Institute, and was funded in part by the ALS Ice
Bucket Challenge.

i will add amylyx currently has more than 7 employees.

 

[jethro]

@nikki 1. thanks, but it is not clear how was amylyx founded "in part by the IBC". supporters? how?

sponsors? it is just written:
Sponsor:
Amylyx Pharmaceuticals Inc.
Collaborator:
Massachusetts General Hospital Neurology Clinical Research Ins

never mind
2. searching for a source which says "founded by 3 students, 6,000USD, and they today have 7 employees". i know, board of directors has more than 7 people...
i'll paste it as soon as i find it.

 

[lgelb]

It's quite common for a company in clinical trials with their first compound to have only a handful of employees. They don't need more. A contracted clinical research organization runs the trials, study coordinators at each site implement them, outside committees monitor them, etc. Only when the therapy is heading toward the market will they need to flesh out the team. Often, the company is bought by another, or the compound is outlicensed to someone else, before they have to go to that expense.

This is the article you are referring to, I think.

 

[Nikki J]

They must not be counting the dozen members of their executive board. and certainly not people like Drs Cudkowicz and Paganoni who consulted with them. Last spring they hired someone to manage global hr too. for 6 other employees? They must have a few people to answer the phone, sweep the floor and such

it seems a bit disingenuous to claim 7 employees when you have other people dealing with the fda, acting as chief science officer and so on.

I do think the 2 founders have done great things but it was with the support of a lot of established scientists and money from various organizations including ALSA with ice bucket money that the trial happened. Trials are expensive!

 

[lgelb]

No, Board members don't count -- they're on contracts. Nor do clinical consultants. Only W-2s. No question, they needed $ for the trials they had not raised themselves. That is common as well. Phone answerers, cleaning and the like are usually outsourced firms in that situation, so again, not employees. But all cost $.