-- Astria Reflects Company’s Patient-Focused
Mission --
-- Promising Lead Program STAR-0215 is in
Preclinical Development to Prevent Attacks in Hereditary Angioedema
--
-- Company to Begin Trading Under New Ticker
Symbol ATXS on September 9 --
Catabasis Pharmaceuticals, Inc. (NASDAQ:CATB), a
biopharmaceutical company developing STAR-0215 for the treatment of
hereditary angioedema (HAE), today announced its new name, Astria
Therapeutics, Inc. (“Astria” or the “Company”). The name Astria
originates from the Greek word for star, reflecting the Company’s
commitment to having patients serve as guiding stars. Astria’s
mission is to bring hope with life-changing therapies to patients
and families. Astria expects to begin trading under the new ticker
symbol “ATXS” on the Nasdaq Global Select Market at market open on
September 9, 2021, and the new website, www.astriatx.com, launched
today containing information about STAR-0215, HAE, and a new
corporate presentation.
“The name Astria embodies our commitment to put patients first
in all that we do,” said Jill C. Milne, Ph.D., Chief Executive
Officer of Astria Therapeutics. “Following the acquisition of
Quellis earlier this year, our company is focused on tackling the
debilitating disease hereditary angioedema, with the broader goal
of addressing the unmet needs of patients with rare and niche
allergic and immunological diseases. We are advancing STAR-0215 as
a differentiated and potentially the most patient-friendly
preventative treatment option with dosing once every three months
or longer. We are proud to launch Astria Therapeutics and bring our
team’s combination of experience, passion, and compassion to our
future vision and our commitment to patients and their
families.”
Astria’s lead program, STAR-0215 (formerly QLS-215), was named
to reflect the goal of having patients at the forefront of Astria’s
scientific development. STAR-0215 is currently in preclinical
development for the treatment of HAE, a rare genetic disorder
characterized by severe, recurrent, unpredictable, painful, and
sometimes life-threatening swelling in the face, limbs, abdomen,
and airway. Astria is developing STAR-0215 to be a long-acting
monoclonal antibody inhibitor of plasma kallikrein, dosed once
every 3 months or longer, with the goal of providing the most
patient-friendly preventative treatment option for people living
with HAE. The company expects to file an Investigational New Drug
(IND) application for STAR-0215 in mid-2022 and plans to initiate a
Phase 1 clinical trial with initial proof of concept results
anticipated by year end 2022.
Astria is led by an experienced management team and Board of
Directors. The management team was assembled with individuals who
have deep expertise in drug discovery and development and
commercialization in rare and niche disease areas. The team, led by
Jill C. Milne, Ph.D., includes Noah Clauser, Chief Financial
Officer, Ben Harshbarger, Chief Legal Officer, Andrew A. Komjathy,
Chief Commercial Officer, Andrea Matthews, Senior Vice President,
Corporate Affairs, Keri McGrail, Senior Vice President, Human
Resources, and Andrew Nichols, Ph.D., Chief Scientific Officer.
Astria’s experienced Board of Directors consists of Kenneth Bate,
Chair of the Board, Joanne T. Beck, Ph. D., Fred Callori, Hugh M.
Cole, Michael D. Kishbauch, Gregg Lapointe, Jill C. Milne, and
Jonathan Violin, Ph.D.
Earlier this year, the Company acquired Quellis Biosciences
(“Quellis”), and lead program STAR-0215. In conjunction with the
acquisition, the Company raised approximately $110 million, before
deducting placement agent and other offering expenses, in a private
placement to a group of institutional accredited investors led by
Perceptive Advisors, with participation from Fairmount Funds
Management LLC, RA Capital Management, Cormorant Asset Management,
Venrock Healthcare Capital Partners, Logos Capital, Boxer Capital,
Acorn Bioventures, Commodore Capital, Surveyor Capital (a Citadel
company), Acuta Capital Partners, Sphera Healthcare, and Serrado
Capital LLC. As of June 30, 2021, Astria had $139.5 million in cash
and cash equivalents. Astria expects that it has sufficient cash to
fund its current operating plan through 2023. ATXS common stock
will trade under the new CUSIP number 04635X102.
About Astria Therapeutics:
Astria Therapeutics is a biopharmaceutical company, and our
mission is to bring life-changing therapies to patients and
families affected by rare and niche allergic and immunological
diseases. Our lead program, STAR-0215, is a monoclonal antibody
inhibitor of plasma kallikrein in preclinical development for the
treatment of hereditary angioedema. Learn more about our company on
our website, www.astriatx.com, or follow us on Twitter and
Instagram @AstriaTx and on Facebook and LinkedIn.
Forward Looking Statements:
This press release contains forward-looking statements within
the meaning of applicable securities laws and regulations
including, but not limited to, statements regarding: the Company’s
projected cash runway; expectations regarding the timing for the
filing of an IND and commencement of a Phase 1 clinical trial for
STAR-0215, the timing and nature of the initial results from such
trial; the potential attributes and differentiated profile of
STAR-0215 as a treatment for HAE; the need for effective treatments
for HAE; and the Company’s broader goal to meet the unmet needs of
patients with rare and niche allergic and immunological diseases.
The use of words such as, but not limited to, “anticipate,”
“believe,” “continue,” “could,” “estimate,” “expect,” “goals,”
“intend,” “may,” “might,” “plan,” “potential,” “predict,”
“project,” “should,” “target,” “will,” or “would” and similar words
expressions are intended to identify forward-looking statements.
Forward-looking statements are neither historical facts nor
assurances of future performance. Instead, they are based on the
Company’s current beliefs, expectations and assumptions regarding
the future of its business, future plans and strategies, future
financial performance, results of pre-clinical and clinical results
of the Company’s product candidates and other future conditions.
Actual results may differ materially from those indicated by such
forward-looking statements as a result of various important
factors, including risks and uncertainties: related to the
Company’s ability to recognize the anticipated benefits of the
Quellis acquisition; changes in applicable laws or regulations; the
possibility that the Company may be adversely affected by other
economic, business, and/or competitive factors, including the
COVID-19 pandemic; risks inherent in pharmaceutical research and
development, such as: adverse results in our drug discovery,
preclinical and clinical development activities, the risk that the
results of pre-clinical studies may not be replicated in clinical
studies, the Company’s ability to enroll patients in our clinical
trials, and the risk that any of the Company’s clinical trials may
not commence, continue or be completed on time, or at all;
decisions made by, or feedback received from, the U.S. FDA and
other regulatory authorities, investigational review boards at
clinical trial sites and other review bodies with respect to
STAR-0215 and any future product candidates; the Company’s ability
to manufacture sufficient quantities of drug substance and drug
product on a cost-effective and timely basis; the Company’s ability
to obtain, maintain and enforce intellectual property rights for
STAR-0215 and any other future product candidates; competition; the
Company’s ability to manage its cash usage and the possibility of
unexpected cash expenditures; the Company’s ability to obtain
necessary financing to conduct its planned activities and to manage
unplanned cash requirements; general economic and market
conditions; as well as the risks and uncertainties set forth under
the caption “Risk Factors” in the Company’s most recent Annual
Report on Form 10-K filed with the SEC, as well as discussions of
potential risks, uncertainties, and other important factors in the
Company’s subsequent filings with the SEC. New risks and
uncertainties may emerge from time to time, and it is not possible
to predict all risks and uncertainties. The Company may not
actually achieve the forecasts or expectations disclosed in our
forward-looking statements, and investors and potential investors
should not place undue reliance on the Company’s forward-looking
statements. Neither the Company, nor its affiliates, advisors or
representatives, undertake any obligation to publicly update or
revise any forward-looking statement, whether as result of new
information, future events or otherwise, except as required by law.
These forward-looking statements should not be relied upon as
representing the Company’s views as of any date subsequent to the
date hereof.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20210908005242/en/
Astria Contacts:
Investor relations: Andrea Matthews
investors@astriatx.com
Media: Elizabeth Higgins media@astriatx.com
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