Conduit Pharmaceuticals Selects Initial Indications for Lead Clinical Candidate Targeting Autoimmune Disorders
12 Août 2024 - 1:00PM
Conduit Pharmaceuticals Inc. (Nasdaq: CDT) (“Conduit” or the
“Company”), today announced the selection of initial indications
for its lead clinical candidate, HK-4 glucokinase activator AZD1656
licensed from AstraZeneca on August 7, 2024.
Conduit intends to initiate Phase 2a clinical trials to evaluate
AZD1656 for the treatment of systemic lupus erythematosus
(including lupus nephritis) and ANCA-associated vasculitis. This
represents a significant milestone in the development of AZD1656,
underscoring Conduit’s commitment to address unmet medical needs
and its confidence in the asset's potential to impact patient
outcomes positively.
Carrying out Phase 2a, double-blind, placebo-controlled trials
in patients suffering from systemic lupus erythematosus, inclusive
of lupus nephritis patients, and patients suffering from
ANCA-associated vasculitis, will enable Conduit to assess the
potential of AZD1656 across the full spectrum of lupus patients.
Simultaneously, we will evaluate the potential of AZD1656 across
the broader aspects of autoimmune disorders.
Originally developed by AstraZeneca through Phase 2b for
diabetes mellitus, AZD1656 is a highly specific glucokinase
activator that has undergone extensive safety testing, involving
over 1,000 patients, in more than 20 trials. Conduit envisions
AZD1656 as a potential cornerstone asset in the autoimmune sector,
leveraging its established safety profile and targeted mechanism of
action to activate the patient’s immune system and mitigate harmful
inflammation.
“Having reviewed the extensive data, we are delighted to advance
AZD1656 into a new therapeutic area targeting systemic lupus
erythematosus and ANCA-associated vasculitis,” said Dr. Freda
Lewis-Hall, Chair of the Board of Directors at Conduit. “With its
potential to become a first-in-class therapy for autoimmune
diseases, AZD1656 represents a significant leap forward in our
mission to develop ground-breaking treatments that could transform
the landscape of autoimmune care and provide innovative treatments
that can truly make a difference to patients.”
Lupus affects over 5 million people worldwide, including 1.5
million Americans1. Yet, despite significant progress in the
clinical understanding of the disease, treatment still relies
heavily on the use of corticosteroids and non-specific
immunosuppressants, widely known for their potentially severe side
effects with long term use. Given the wide-ranging clinical
manifestations of lupus there is a clear unmet need for safer
treatments applicable to all patients.
The global market size for lupus treatments, including systemic
lupus erythematosus (SLE) and other lupus-related conditions, was
estimated to be around $2.7 billion in 2024. This market is
expected to grow significantly, reaching approximately $4.9 billion
by 2030 with a compound annual growth rate (CAGR) of approximately
8.9%2. In addition, the market size of ANCA-associated vasculitis
was highest in the U.S. among the seven major markets in 2023,
accounting for approximately $620 million, and is expected to
experience significant growth by 20323.
About Conduit Pharmaceuticals
Conduit is a multi-asset, clinical stage, disease-agnostic life
science company delivering an efficient model for compound
development. Conduit both acquires and funds the development of
Phase 2-ready assets and then seeks an exit through third-party
license deals following successful clinical trials. Led by a highly
experienced team of pharmaceutical executives including Dr. David
Tapolczay and Dr. Freda Lewis-Hall, this novel approach is a
departure from the traditional pharma/biotech business model of
taking assets through regulatory approval.
Forward-Looking Statements
This press release contains certain forward-looking statements
within the meaning of the federal securities laws. All statements
other than statements of historical facts contained in this press
release, including statements regarding Conduit's future results of
operations and financial position, Conduit's business strategy,
prospective product candidates, product approvals, research and
development costs, timing and likelihood of success, plans and
objectives of management for future operations, future results of
current and anticipated studies and business endeavors with third
parties, and future results of current and anticipated product
candidates, are forward-looking statements. These forward-looking
statements generally are identified by the words "believe,"
"project," "expect," "anticipate," "estimate," "intend,"
"strategy," "future," "opportunity," "plan," "may," "should,"
"will," "would," "will be," "will continue," "will likely result,"
and similar expressions. These forward-looking statements are
subject to a number of risks, uncertainties and assumptions,
including, but not limited to; the inability to maintain the
listing of Conduit's securities on Nasdaq; the ability to recognize
the anticipated benefits of the business combination completed in
September 2023, which may be affected by, among other things,
competition; the ability of the combined company to grow and manage
growth economically and hire and retain key employees; the risks
that Conduit's product candidates in development fail clinical
trials or are not approved by the U.S. Food and Drug Administration
or other applicable authorities on a timely basis or at all;
changes in applicable laws or regulations; the possibility that
Conduit may be adversely affected by other economic, business,
and/or competitive factors; and other risks as identified in
filings made by Conduit with the U.S. Securities and Exchange
Commission. Moreover, Conduit operates in a very competitive and
rapidly changing environment. Because forward-looking statements
are inherently subject to risks and uncertainties, some of which
cannot be predicted or quantified and some of which are beyond
Conduit's control, you should not rely on these forward-looking
statements as predictions of future events. Forward-looking
statements speak only as of the date they are made. Readers are
cautioned not to put undue reliance on forward-looking statements,
and except as required by law, Conduit assumes no obligation and
does not intend to update or revise these forward-looking
statements, whether as a result of new information, future events,
or otherwise. Conduit gives no assurance that it will achieve its
expectations.
MediaSean LeousICR Westwicke
Sean.Leous@westwicke.com +1.646.866.4012
InvestorsBill Begien Conduit Pharmaceuticals
Inc. bb@conduitpharma.com
1
https://www.pfizer.com/disease-and-conditions/lupus#:~:text=Lupus%20is%20a%20global%20disease,in%20the%20United%20States%20alone.&text=Its%20prevalence%20varies%20significantly%20between%20regions.
2
https://www.marketresearchfuture.com/reports/systemic-lupus-erythematosus-treatment-market-8500
3
https://finance.yahoo.com/news/anca-associated-vasculitis-industry-epidemiology-084800557.html?guccounter=1&guce_referrer=aHR0cHM6Ly93d3cuZ29vZ2xlLmNvbS8&guce_referrer_sig=AQAAANkxj8q0WJx_FXr2sjJIlSmylTMmxaJeUARmiWNMn6zifDwMsjRLRxrwchkkTJpnSgmOepq9_4F4VcuFTnK9614lev4EU5ZewxV0sp-_HWjYRNJpQXDsL5LmvJKBUGk93MU9si4jNJXm1dHmn9v7YN7MTrQFHB0yTldyLyE3iDHJ
Conduit Pharmaceuticals (NASDAQ:CDT)
Graphique Historique de l'Action
De Nov 2024 à Déc 2024
Conduit Pharmaceuticals (NASDAQ:CDT)
Graphique Historique de l'Action
De Déc 2023 à Déc 2024