PaxMedica Acquires Suramin Research Assets from Rediscovery Life Sciences to Accelerate NDA Submission for PAX-101
October 31 2023 - 8:00AM
via IBN -- PaxMedica, Inc. (Nasdaq: PXMD), a pioneering
biopharmaceutical company specializing in cutting-edge treatments
for neurological disorders, announced today the successful
acquisition of certain suramin research assets from Rediscovery
Life Sciences (RLS). These assets were previously dedicated to the
study of suramin's potential efficacy in treating acute kidney
injury resulting from chronic kidney disease.
The newly acquired data from RLS will play a crucial role in
bolstering PaxMedica's ongoing efforts to support the submission
for the approval of PAX-101, specifically for the treatment of
African Sleeping Sickness caused by the Trypanosoma brucei
rhodesiense parasite.
This strategic move follows PaxMedica's recent Type B meeting
with the FDA. The integration of the valuable data from Rediscovery
Life Sciences will serve as a complementary component in the
planned submission for the NDA, further solidifying the company's
progression toward this critical milestone. PaxMedica remains
firmly on track to meet the CMC manufacturing production
requirements for PAX-101 in the first half of 2024.
In a recent statement, Howard Weisman, Chairman and CEO of
PaxMedica, emphasized the significance of this acquisition,
stating, "Acquiring the research assets from Rediscovery Life
Sciences marks a significant leap forward in our journey to
expedite the NDA submission process for PAX-101. This valuable
addition of data will significantly contribute to our mission of
delivering effective and life-saving treatments for Human African
Sleeping Sickness."
About PaxMedica
PaxMedica, Inc. is a forward-looking clinical-stage
biopharmaceutical firm specializing in cutting-edge anti-purinergic
drug therapies (APT) designed to address challenging neurologic
disorders. Our scope encompasses a spectrum of conditions, from
neurodevelopmental disorders, including Autism Spectrum Disorder
(ASD), to the debilitating Myalgic Encephalomyelitis/Chronic
Fatigue Syndrome (ME/CFS), marked by both physical and cognitive
burdens. At PaxMedica, we prioritize the advancement and evaluation
of our flagship program, PAX-101—an intravenous suramin
formulation—primarily focused on ASD treatment, while also
broadening our clinical insights into its potential applications
for conditions such as ME/CFS. For more information,
visit www.paxmedica.com.
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Forward-Looking Statements
This press release contains “forward-looking statements.”
Forward-looking statements reflect our current view about future
events. Investors can identify these forward-looking statements by
words or phrases such as “may,” “will,” “could,” “expect,”
“anticipate,” “aim,” “estimate,” “intend,” “plan,” “believe,”
“is/are likely to,” “propose,” “potential,” “continue” or similar
expressions. These forward-looking statements include our
anticipated clinical program, the timing and success of our
anticipated data announcements, pre-clinical and clinical trials
and regulatory filings, statements about the strength of our
balance sheet. These forward-looking statements involve known and
unknown risks and uncertainties and are based on the Company’s
current expectations and projections about future events that the
Company believes may affect its financial condition, results of
operations, business strategy and financial needs. Such risks and
uncertainties include, but are not limited to, risks associated
with the Company’s development work, including any delays or
changes to the timing, cost and success of the Company’s product
development and clinical trials, risk of insufficient capital
resources, cash funding and cash burn and risks associated with
intellectual property and infringement claims. The Company
undertakes no obligation to update or revise publicly any
forward-looking statements to reflect subsequent occurring events
or circumstances, or changes in its expectations, except as may be
required by law. Although the Company believes that the
expectations expressed in these forward-looking statements are
reasonable, it cannot assure you that such expectations will turn
out to be correct, and the Company cautions investors that actual
results may differ materially from the anticipated results and
encourages investors to review other factors that may affect its
future results described in the Company’s “Risk Factors” section
and other sections in its most recent Annual Report on Form 10-K,
and subsequent quarterly and other filings with the U.S. Securities
and Exchange Commission.
Contacts
PaxMedica, Inc. 303 S Broadway, Suite 125.
Tarrytown, NY 10591 www.paxmedica.com
Media Contact media@paxmedica.com
Investor Contact Scott McGowan
InvestorBrandNetwork (IBN) Phone: 310.299.1717 ir@paxmedica.com
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