BOSTON–(Company WIRE)–Catabasis Prescribed drugs, Inc. (NASDAQ:CATB), a biopharmaceutical organization developing STAR-0215 for the remedy of hereditary angioedema (HAE), these days announced its new identify, Astria Therapeutics, Inc. (“Astria” or the “Company”). The title Astria originates from the Greek term for star, reflecting the Company’s motivation to possessing sufferers serve as guiding stars. Astria’s mission is to deliver hope with everyday living-switching therapies to patients and people. Astria expects to start out trading beneath the new ticker image “ATXS” on the Nasdaq Worldwide Select Current market at industry open up on September 9, 2021, and the new web-site, www.astriatx.com, released now containing details about STAR-0215, HAE, and a new corporate presentation.
“The identify Astria embodies our determination to place people 1st in all that we do,” reported Jill C. Milne, Ph.D., Chief Executive Officer of Astria Therapeutics. “Following the acquisition of Quellis before this yr, our enterprise is focused on tackling the debilitating condition hereditary angioedema, with the broader objective of addressing the unmet desires of clients with uncommon and niche allergic and immunological disorders. We are advancing STAR-0215 as a differentiated and potentially the most patient-welcoming preventative therapy solution with dosing when each and every a few months or more time. We are happy to start Astria Therapeutics and deliver our team’s combination of practical experience, passion, and compassion to our upcoming vision and our motivation to patients and their family members.”
Astria’s direct application, STAR-0215 (previously QLS-215), was named to mirror the objective of having patients at the forefront of Astria’s scientific progress. STAR-0215 is at present in preclinical growth for the treatment of HAE, a unusual genetic disorder characterised by critical, recurrent, unpredictable, painful, and from time to time existence-threatening inflammation in the deal with, limbs, abdomen, and airway. Astria is establishing STAR-0215 to be a prolonged-acting monoclonal antibody inhibitor of plasma kallikrein, dosed when each 3 months or lengthier, with the intention of furnishing the most affected individual-pleasant preventative treatment method solution for people today living with HAE. The organization expects to file an Investigational New Drug (IND) application for STAR-0215 in mid-2022 and ideas to initiate a Period 1 scientific demo with initial proof of principle results expected by 12 months close 2022.
Astria is led by an expert administration crew and Board of Directors. The management team was assembled with individuals who have deep abilities in drug discovery and development and commercialization in scarce and area of interest disorder parts. The staff, led by Jill C. Milne, Ph.D., features Noah Clauser, Chief Fiscal Officer, Ben Harshbarger, Chief Legal Officer, Andrew A. Komjathy, Chief Industrial Officer, Andrea Matthews, Senior Vice President, Corporate Affairs, Keri McGrail, Senior Vice President, Human Assets, 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 12 months, the Organization obtained Quellis Biosciences (“Quellis”), and lead method STAR-0215. In conjunction with the acquisition, the Organization lifted approximately $110 million, right before deducting placement agent and other presenting expenses, in a private placement to a team of institutional accredited traders led by Perceptive Advisors, with participation from Fairmount Funds Administration LLC, RA Money Administration, Cormorant Asset Administration, Venrock Health care Capital Partners, Logos Money, Boxer Money, Acorn Bioventures, Commodore Funds, Surveyor Capital (a Citadel corporation), Acuta Capital Companions, Sphera Health care, and Serrado Funds LLC. As of June 30, 2021, Astria had $139.5 million in income and income equivalents. Astria expects that it has adequate money to fund its present functioning prepare through 2023. ATXS common stock will trade less than the new CUSIP variety 04635X102.
About Astria Therapeutics:
Astria Therapeutics is a biopharmaceutical enterprise, and our mission is to carry existence-modifying therapies to sufferers and family members affected by exceptional and area of interest allergic and immunological illnesses. Our direct software, STAR-0215, is a monoclonal antibody inhibitor of plasma kallikrein in preclinical development for the procedure of hereditary angioedema. Learn far more about our organization on our web site, www.astriatx.com, or adhere to us on Twitter and Instagram @AstriaTx and on Fb and LinkedIn.
Forward Hunting Statements:
This push launch includes forward-wanting statements inside of the which means of applicable securities rules and rules like, but not minimal to, statements relating to: the Company’s projected hard cash runway anticipations regarding the timing for the filing of an IND and commencement of a Stage 1 clinical demo for STAR-0215, the timing and character of the preliminary success from these types of demo the possible characteristics and differentiated profile of STAR-0215 as a treatment method for HAE the require for helpful treatment options for HAE and the Company’s broader goal to meet up with the unmet requires of individuals with exceptional and market allergic and immunological illnesses. The use of words this sort of as, but not restricted to, “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “goals,” “intend,” “may,” “might,” “plan,” “potential,” “predict,” “project,” “should,” “target,” “will,” or “would” and related text expressions are supposed to identify forward-on the lookout statements. Ahead-seeking statements are neither historic facts nor assurances of long term effectiveness. In its place, they are dependent on the Company’s current beliefs, anticipations and assumptions relating to the potential of its business enterprise, long run strategies and tactics, upcoming financial functionality, outcomes of pre-scientific and medical success of the Company’s product or service candidates and other long term disorders. Precise effects might vary materially from individuals indicated by these ahead-wanting statements as a end result of a variety of important elements, which includes challenges and uncertainties: similar to the Company’s capacity to acknowledge the predicted rewards of the Quellis acquisition adjustments in relevant legal guidelines or regulations the likelihood that the Corporation may possibly be adversely afflicted by other economic, enterprise, and/or aggressive things, including the COVID-19 pandemic hazards inherent in pharmaceutical investigation and advancement, this kind of as: adverse effects in our drug discovery, preclinical and clinical development functions, the hazard that the outcomes of pre-medical studies may perhaps not be replicated in medical scientific tests, the Company’s capacity to enroll people in our scientific trials, and the hazard that any of the Company’s medical trials may well not start, continue or be concluded on time, or at all choices created by, or feedback received from, the U.S. Food and drug administration and other regulatory authorities, investigational assessment boards at clinical trial internet sites and other review bodies with respect to STAR-0215 and any future merchandise candidates the Company’s skill to manufacture adequate quantities of drug material and drug products on a value-productive and timely foundation the Company’s capacity to acquire, keep and enforce intellectual residence legal rights for STAR-0215 and any other long term solution candidates competitors the Company’s skill to handle its cash use and the chance of unexpected income expenditures the Company’s capability to acquire needed financing to conduct its prepared pursuits and to regulate unplanned money demands standard financial and marketplace ailments as effectively as the threats and uncertainties set forth under the caption “Risk Factors” in the Company’s most latest Annual Report on Variety 10-K submitted with the SEC, as nicely as conversations of probable dangers, uncertainties, and other important aspects in the Company’s subsequent filings with the SEC. New challenges and uncertainties may well arise from time to time, and it is not achievable to predict all risks and uncertainties. The Enterprise may possibly not really realize the forecasts or expectations disclosed in our forward-searching statements, and investors and potential buyers really should not area undue reliance on the Company’s ahead-on the lookout statements. Neither the Corporation, nor its affiliates, advisors or associates, undertake any obligation to publicly update or revise any ahead-hunting statement, irrespective of whether as outcome of new info, potential gatherings or or else, except as expected by law. These forward-on the lookout statements should not be relied upon as representing the Company’s sights as of any date subsequent to the day hereof.