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The FDA approved a new medicine from the biotech company Vera Therapeutics for patients with a type of chronic autoimmune kidney disease.

The funding deal is a vote of confidence in the sales potential of multiple prospects in late-stage development — one of which MeiraGTx recently reacquired from J&J.

The drug spurred about 10% weight loss over 10 months, though that finding came alongside high rates of gastrointestinal side effects that “alarmed” one analyst.