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BioAegis Therapeutics Enrolls First Patients in Phase 1b/2a Community-Acquired Pneumonia Study and Raises $4 MM in Equity Round
MORRISTOWN, N.J., Sept. 18, 2018 (GLOBE NEWSWIRE) -- BioAegis Therapeutics Inc. announced that it has begun patient enrollment in a Phase 1b/2a study of recombinant plasma gelsolin (rhu-pGSN) in Community-Acquired Pneumonia (CAP) in Australasia.* The clinical-stage company is focused on a novel approach to address infectious, inflammatory and degenerative diseases through a portfolio built around rhu-pGSN technology. Separately, the company announced that it has closed a $4.1 million equity round.
BioAegis has previously demonstrated that patients admitted to the hospital with Community-Acquired Pneumonia have depressed levels of plasma gelsolin and that the extent of this depression predicts adverse outcomes. Supplementing low endogenous levels with rhu-pGSN has consistently demonstrated reduced morbidity and mortality in over 20 infectious and non-infectious disease animal models. Moreover, due to its host-based mechanism, rhu-pGSN has been demonstrated to be effective against both gram-positive and gram-negative infection, as well as infection by pathogens resistant to multiple antibiotics.
Severe CAP is a leading cause of death in the US and around the world. According to the American Thoracic Society, mortality due to pneumonia has had little or no improvement in the US since antibiotics first became widely available more than a half a century ago. Significant numbers of CAP patients progress to sequential organ dysfunction, placing a significant burden on the health care system. Survivors often require ongoing care for lingering neurocognitive and functional disabilities even after being discharged from the hospital.
Susan Levinson, PhD, Chief Executive Officer of BioAegis stated, “We are extremely pleased that investors have recognized the extraordinary opportunity that awaits us and are supporting our clinical progress.”
Mark DiNubile, MD, Chief Medical Officer, commented, “Harnessing the body’s immune system offers a safe, powerful approach that can lead to more effective therapies for serious diseases. This study is the first step in utilizing the immune system to treat multiple infectious and non-infectious inflammatory conditions.”
Plasma gelsolin (pGSN) is an abundant circulating protein that enhances macrophage antimicrobial activity, limits the excessive spread of inflammation, and neutralizes actin exposed by damaged cells. Decreased pGSN levels at presentation are not only found in CAP patients, but also in patients with diverse infectious and non-infectious inflammatory diseases, who are at high risk for developing serious complications.
About BioAegis Therapeutics
BioAegis Therapeutics Inc. is a clinical stage, private company whose mission is to harness the body’s innate immune system to address adverse outcomes in diseases driven by inflammation and infection. BioAegis’ platform of opportunities exploits the multifunctional role of plasma gelsolin (pGSN), a highly conserved, endogenous human protein.
This press release contains express or implied forward-looking statements, which are based on current expectations of management. These statements relate to, among other things, our expectations regarding management’s plans, objectives, and strategies. These statements are neither promises nor guarantees, but are subject to a variety of risks and uncertainties, many of which are beyond our control, and which could cause actual results to differ materially from those contemplated in these forward-looking statements. BioAegis assumes no obligation to update any forward-looking statements appearing in this press release in the event of changing circumstances or otherwise, and such statements are current only as of the date they are made.
For further information:
Steven Cordovano, 203-952-6373