Eight years after Eli Lilly dumped it, an upstart biotech has nabbed teplizumab and filed a $56M IPO to back a PhIII comeback

Eight years ago, a drug called teplizumab went down in flames after it failed in a pivotal diabetes study undertaken by Eli Lilly. But yesterday a little startup called Provention Bio in-licensed it from MacroGenics, the original developer, whipped around and today used it as their lead drug for a $56 million IPO filing.