Purple Biotech Ltd. ("Purple Biotech" or "the Company")
(NASDAQ/TASE: PPBT), a clinical-stage company developing
first-in-class oncology therapies that overcome tumor immune
evasion and drug resistance, today announced further details on its
virtual key opinion leader (KOL) event on Thursday, July 11, 2024
at 10:30 AM ET. To register, click here.
The event will feature Michael Cecchini, MD (Yale School of
Medicine) and E. Gabriela Chiorean, MD, FASCO (University of
Washington School of Medicine, Fred Hutchinson Cancer Center), who
will discuss the positive interim data from the Phase 2 study of
CM24, in combination with Bristol Myers Squibb’s immune checkpoint
inhibitor nivolumab and standard of care chemotherapy, in
second-line metastatic pancreatic ductal adenocarcinoma (PDAC).
The event will also focus on data reported at the 2024 ASCO
Annual Meeting demonstrating reduced risk of death and progression,
prolongation of OS and progression free survival (PFS), higher
objective response rate (ORR), disease control rate (DCR) and
decreasing CA19-9 levels in the CM24+Nivolumab+Nal-IRI/5FU/LV arm
and the new exploratory biomarker data suggesting that baseline
serum myeloperoxidase (MPO) may be a predictive biomarker for the
treatment effect of CM24-nivolumab therapy on overall survival.
CM24 is a humanized monoclonal antibody that blocks the
interactions of CEACAM1, a protein expressed on tumor and immune
cells, and is a part of the Neutrophils Extra Cellular Traps
(NETs), involved in tumor immune evasion and survival through
multiple pathways.
Management will discuss Purple Biotech plans for CM24.
A live question and answer session will follow the formal
presentation.
About Michael Cecchini, MD
Michael Cecchini, MD is an Assistant Professor of Medicine
(Medical Oncology) at the Yale Cancer Center in the Yale University
School of Medicine. He is a board-certified medical oncologist that
specializes in the treatment of patients with advanced
gastrointestinal (GI) cancers. His research is focused on early
phase clinical trials to develop novel therapies that are biomarker
driven for patients with advanced gastrointestinal cancers.
Furthermore, he performs translational research to better
understand the relationship between DNA damage and the immune
response to develop new biomarkers and treatment combinations for
patients with advanced GI cancers. Dr. Cecchini is also the
co-director of the Colorectal Cancer Program in the Yale Center for
GI Cancers and is also a member of the National Cancer Institute
Colon Task Force. Dr. Cecchini has served as an investigator on
numerous clinical trials and has authored multiple manuscripts
evaluating novel treatment combinations in advanced cancer.
About E. Gabriela Chiorean, MD, FASCO
E. Gabriela Chiorean, MD, FASCO is a GI and Phase I Medical
Oncologist, Professor of Medicine at University of Washington (UW)
Division of Medical Oncology, and Professor in the Clinical
Research Division at the Fred Hutchinson Cancer Center (Fred Hutch)
in Seattle, WA. Dr. Chiorean is the Medical and Clinical Research
Director of the UW/Fred Hutch Gastrointestinal Oncology Program,
and Deputy Co-Director of the Fred Hutch Pancreatic Cancer Program.
She is Vice-Chair of the GI Cancers Committee for the NCI Southwest
Oncology Cooperative Group (SWOG) Cancer Research Network, and
member of the NCI Gastrointestinal Cancers Steering Committee
(GISC) Pancreatic Cancer Task Force. She is also a member of the
National Comprehensive Cancer Network (NCCN) Guidelines Panel for
Pancreatic Cancers, and leader of the NCCN Guidelines Panel for
Ampullary Cancers. She is the chair of the ASCO Plenary Series for
GI Cancers, chaired multiple ASCO Scientific Committees for GI
Cancers and Developmental Therapeutics, and co-chaired the ASCO
international expert panel for Late-Stage Colorectal Cancer
Guidelines. Dr Chiorean has authored over 100 peer reviewed
research publications in journals such as Science, New England
Journal of Medicine, Journal of Clinical Oncology, Lancet Oncology,
JAMA Oncology and Annals of Oncology. Dr. Chiorean’s clinical and
translational research interests for pancreatic and
gastrointestinal cancers are focused on biomarker driven precision
oncology, adoptive cellular immunotherapies, and novel
therapeutics.
About Purple Biotech
Purple Biotech Ltd. (NASDAQ/TASE: PPBT) is a clinical-stage
company developing first-in-class therapies that seek to overcome
tumor immune evasion and drug resistance. The Company's oncology
pipeline includes NT219, CM24 and IM1240. NT219 is a dual
inhibitor, novel small molecule that simultaneously targets IRS1/2
and STAT3. A Phase 1 dose escalation study is being concluded and a
Phase 2 study of NT219 at its recommended Phase 2 level in
combination with cetuximab in patients with recurrent and/or
metastatic squamous cell carcinoma of the head and neck cancer
(SCCHN) is planned. CM24 is a humanized monoclonal antibody that
blocks the interactions of CEACAM1, a protein expressed on tumor
and immune cells, and is a part of the Neutrophils Extra Cellular
Traps (NETs), involved in tumor immune evasion and survival through
multiple pathways. The Company is advancing CM24 as a combination
therapy with anti-PD-1 checkpoint inhibitors in a Phase 2 study for
the treatment of pancreatic ductal adenocarcinoma (PDAC). The
Company has entered into a clinical collaboration agreement with
Bristol Myers Squibb for the Phase 2 clinical trials to evaluate
the combination of CM24 with the PD-1 inhibitor nivolumab in
addition to chemotherapy. The Company is also advancing a
preclinical platform of conditionally-activated tri-specific
antibodies that engage both T cells and NK cells to induce a
strong, localized immune response within the tumor
microenvironment. The cleavable capping technology confines the
compound's therapeutic activity to the local tumor
microenvironment, and thereby potentially increases the anticipated
therapeutic window in patients. The third arm of the antibody
specifically targets the Tumor Associated Antigen (TAA). The
technology presents a novel mechanism of action by unleashing both
innate and adaptive immune systems to induce an optimal anti-tumor
immune response. IM1240 is the platform's lead tribody in
development that targets 5T4 expressed in a variety of solid tumors
and is correlated with advanced disease, increased invasiveness and
poor clinical outcomes. The Company's corporate headquarters are
located in Rehovot, Israel. For more information, please visit
https://purple-biotech.com/.
Forward-Looking Statements and Safe Harbor
Statement
Certain statements in this press release that are
forward-looking and not statements of historical fact are
forward-looking statements within the meaning of the safe harbor
provisions of the Private Securities Litigation Reform Act of 1995.
Such forward-looking statements include, but are not limited to,
statements that are not statements of historical fact, and may be
identified by words such as "believe", "expect", "intend", "plan",
"may", "should", "could", "might", "seek", "target", "will",
"project", "forecast", "continue" or "anticipate" or their
negatives or variations of these words or other comparable words or
by the fact that these statements do not relate strictly to
historical matters. You should not place undue reliance on these
forward-looking statements, which are not guarantees of future
performance. Forward-looking statements reflect our current views,
expectations, beliefs or intentions with respect to future events,
and are subject to a number of assumptions, involve known and
unknown risks, many of which are beyond our control, as well as
uncertainties and other factors that may cause our actual results,
performance or achievements to be significantly different from any
future results, performance or achievements expressed or implied by
the forward-looking statements. Important factors that could cause
or contribute to such differences include, among others, risks
relating to: the plans, strategies and objectives of management for
future operations; product development for NT219, CM24 and IM1240;
the process by which such early stage therapeutic candidates could
potentially lead to an approved drug product is long and subject to
highly significant risks, particularly with respect to a joint
development collaboration; the fact that drug development and
commercialization involves a lengthy and expensive process with
uncertain outcomes; final results from clinical studies, including
our NT219 and CM24 studies, may vary from the interim analysis, our
ability to successfully develop and commercialize our
pharmaceutical products; the expense, length, progress and results
of any clinical trials; the impact of any changes in regulation and
legislation that could affect the pharmaceutical industry; the
difficulty in receiving the regulatory approvals necessary in order
to commercialize our products; the difficulty of predicting actions
of the U.S. Food and Drug Administration or any other applicable
regulator of pharmaceutical products; the regulatory environment
and changes in the health policies and regimes in the countries in
which we operate; the uncertainty surrounding the actual market
reception to our pharmaceutical products once cleared for marketing
in a particular market; the introduction of competing products;
patents obtained by competitors; dependence on the effectiveness of
our patents and other protections for innovative products; our
ability to obtain, maintain and defend issued patents; the
commencement of any patent interference or infringement action
against our patents, and our ability to prevail, obtain a favorable
decision or recover damages in any such action; and the exposure to
litigation, including patent litigation, and/or regulatory actions;
the impact of the economic, public health, political and security
situation in Israel, the U.S. and other countries in which we may
operate or obtain approvals for our products or our business, and
other factors that are discussed in our Annual Report on Form 20-F
for the year ended December 31, 2023 and in our other filings with
the U.S. Securities and Exchange Commission ("SEC"), including our
cautionary discussion of risks and uncertainties under "Risk
Factors" in our Registration Statements and Annual Reports. These
are factors that we believe could cause our actual results to
differ materially from expected results. Other factors besides
those we have listed could also adversely affect us. Any
forward-looking statement in this press release speaks only as of
the date which it is made. We disclaim any intention or obligation
to publicly update or revise any forward-looking statement or other
information contained herein, whether as a result of new
information, future events or otherwise, except as required by
applicable law. You are advised, however, to consult any additional
disclosures we make in our reports to the SEC, which are available
on the SEC's website, https://www.sec.gov.
CONTACTS:
Company Contact:Lior FhimaChief Financial
OfficerIR@purple-biotech.com
Purple Biotech (NASDAQ:PPBT)
Historical Stock Chart
From Sep 2024 to Oct 2024
Purple Biotech (NASDAQ:PPBT)
Historical Stock Chart
From Oct 2023 to Oct 2024