Cocrystal Pharma Expands Exclusive License Agreement with Kansas State University Research Foundation to New Coronavirus Anti...
April 22 2020 - 8:05AM
Cocrystal Pharma, Inc. (NASDAQ: COCP), (“Cocrystal” or
the “Company”), a clinical stage biotechnology company
discovering and developing novel antiviral therapeutics,
announced today that it has expanded its previously announced
license agreement with Kansas State University Research Foundation
(“KSURF”) to include rights to additional preclinical leads and
further develop certain proprietary broad-spectrum antiviral
compounds for the treatment of coronavirus infections (“COVID-19”).
“We are pleased to be expanding our agreement
with KSURF as we move forward with our ongoing COVID-19 development
program. The additional compounds from this new license agreement
represent a class of compounds called protease inhibitors to
potentially treat COVID-19. The compounds are in a preclinical
stage and have a novel mechanism of action that we believe could
play an important role in treating this devastating disease,”
commented Dr. Gary Wilcox, Chairman and Chief Executive Officer of
Cocrystal.
Cocrystal has been granted an exclusive,
royalty-bearing right and license to certain small molecule
therapeutic inhibitors against coronaviruses, picornaviruses and
caliciviruses covered by patent rights controlled by KSURF.
Cocrystal intends to pursue research and development of these
antiviral compounds for coronavirus, including preclinical and
clinical development. This license significantly expands and
further advances the Company's COVID-19 program by providing more
targeted, potent compounds for further development. The additional
compounds licensed from KSURF have demonstrated both in vitro and
in vivo activity in animal models against the viral pathogens MERS
and SARS, which are coronaviruses that are structurally similar to
SARS-CoV-2 (see About Coronavirus Disease below). “These new
SARS-CoV-2 antiviral compounds have shown broad spectrum activity
against SARS-CoV-2, SARS-CoV, and MERS-CoV and in vivo efficacy
data in a MERS-CoV animal model that was recently used for in vivo
study of remdesivir. We are encouraged that administration of this
compound significantly increased survival and reduced lung virus
titer in the infected animals even when given one day after virus
infection. We are working tirelessly to leverage our proprietary
drug discovery platform to advance this antiviral program and
believe this new set of compounds has the potential to provide the
lead compound for the program. As we progress our COVID-19
antiviral development program, we will continue to seek
opportunities for collaboration with potential partners,” commented
Dr. Sam Lee, President of Cocrystal.
Cocrystal’s technology generates a 3-D structure
of inhibitor complexes at near-atomic resolution providing the
Company with the ability to identify novel binding sites, which
allows for a rapid turnaround of structural information through
highly automated X-ray data processing and refinement. By utilizing
this technology, Cocrystal is able to develop compounds that
specifically target enzymes that are essential for viral
replication. The Company is currently leveraging its unique
structure-based technologies to develop antiviral drugs for
influenza viruses, hepatitis C viruses, coronaviruses and
noroviruses. About Coronavirus Disease 2019
(COVID-19)
COVID-19 is caused by a coronavirus called
SARS-CoV-2. Coronaviruses are a large family of viruses that are
common in people and many different species of animals, including
camels, cattle, cats, and bats. Rarely, animal coronaviruses can
infect people and then spread between people. This occurred
with MERS-CoV and SARS-CoV, and now with the virus
that causes COVID-19.
The virus that causes COVID-19 is thought to
spread mainly from person to person, mainly through respiratory
droplets produced when an infected person coughs or sneezes. These
droplets can land in the mouths or noses of people who are nearby
or possibly be inhaled into the lungs. Spread is more likely when
people are in close contact with one another (within about 6
feet).
COVID-19 seems to be spreading easily and
sustainably in the community (“community spread”) in many affected
geographic areas. Community spread means people have been infected
with the virus in an area, including some who are not sure how or
where they became infected.
Summary updates are available on CDC’s web page:
Coronavirus Disease 2019 (COVID-19).
About Cocrystal Pharma,
Inc.
Cocrystal Pharma, Inc. is a clinical stage
biotechnology company discovering and developing novel antiviral
therapeutics that target the replication process of influenza
viruses, hepatitis C viruses, coronaviruses and noroviruses.
Cocrystal employs unique structure-based technologies and Nobel
Prize winning expertise to create first- and best-in-class
antiviral drugs. For further information about Cocrystal, please
visit www.cocrystalpharma.com.
Cautionary Note Regarding
Forward-Looking Statements
This press release contains forward-looking
statements within the meaning of the Private Securities Litigation
Reform Act of 1995, including statements regarding our future
research and development of antiviral compounds for COVID-19,
including preclinical and clinical development, providing a lead
compound for our COVID-19 program, and our plans regarding future
collaborations. The words "believe," "may," "estimate," "continue,"
"anticipate," "intend," "should," "plan," "could," "target,"
"potential," "is likely," "will," "expect" and similar expressions,
as they relate to us, are intended to identify forward-looking
statements. We have based these forward-looking statements largely
on our current expectations and projections about future events.
Some or all of the events anticipated by these forward-looking
statements may not occur. Important factors that could cause actual
results to differ from those in the forward-looking statements
include, but are not limited to, risks arising from the impact of
the COVID-19 pandemic on our Company, including our ability to
proceed with our programs, receive necessary regulatory approvals
and continue to rely on certain third parties, and on the national
and global economy, the results of preclinical and clinical
studies, general risks arising from clinical trials, receipt of
regulatory approvals, development of effective treatments and/or
vaccines by competitors, and our ability to find and enter into
agreements with suitable collaboration partners. Further
information on our risk factors is contained in our filings with
the SEC, including our Annual Report on Form 10-K for the year
ended December 31, 2019. Any forward-looking statement made by us
herein speaks only as of the date on which it is made. Factors or
events that could cause our actual results to differ may emerge
from time to time, and it is not possible for us to predict all of
them. We undertake no obligation to publicly update any
forward-looking statement, whether as a result of new information,
future developments or otherwise, except as may be required by
law.
Investor and Media Contact:JTC
Team, LLC(833) 475-8247COCP@jtcir.com
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