Akari Announces Coversin Data to be Presented at 2018 Complement-Based Drug Development Summit
November 15 2018 - 9:00AM
Highlights potential role of both
complement and leukotriene pathways in a therapeutic mouse model of
rheumatoid arthritis (RA)
Akari Therapeutics, Plc (NASDAQ:AKTX), a biopharmaceutical company
focused on innovative therapeutics to treat orphan autoimmune and
inflammatory diseases where complement and or leukotriene systems
are implicated, today announced that PASylated Coversin data will
be presented at the 2nd Annual 2018 Complement-Based Drug
Development Summit in Boston, Mass. during an oral presentation by
Andrew Luster, M.D., Ph.D., Chief, Division of Rheumatology,
Allergy and Immunology & Director, Center for Immunology and
Inflammatory Diseases Massachusetts General Hospital. The
presentation will take place on November 15, 2018, at 9:10 a.m.
EST.
In Dr. Luster’s RA model, PASylated Coversin, which is a longer
half-life version of the parent molecule Coversin, and which
similarly is able to inhibit both C5 and LTB4, was more effective
than LTB4 inhibition alone, completely eliminating rheumatic
symptoms within six days of initiating treatment.
These data point to an increasing potential set of clinical
targets available to treatment with Coversin’s combined C5 and LTB4
functionality. Akari currently has two clinical programs open in
bullous pemphigoid (BP) and atopic keratoconjunctivitis (AKC) where
both C5 and LTB4 are believed to be implicated. The Company expects
initial data readouts from both trials in the first quarter of
2019.
Dr. Luster stated, “The effect of Coversin (PASYlated) used
therapeutically in our mouse model of RA was impressive with
apparent total disease reversal. This highlights that the novel
strategy offered by Coversin of simultaneously blocking both C5 and
LTB4 may make it an effective anti-inflammatory treatment and
offers the potential to provide an alternative therapy for RA
patients who are unresponsive to current marketed therapies.”
About Akari TherapeuticsAkari is a
biopharmaceutical company focused on developing inhibitors of acute
and chronic inflammation, specifically for the treatment of rare
and orphan diseases, in particular those where the complement (C5)
or leukotriene (LTB4) systems, or both complement and leukotrienes
together, play a primary role in disease progression. Akari's lead
drug candidate, Coversin, is a C5 complement inhibitor that also
independently and specifically inhibits leukotriene B4 (LTB4)
activity. Coversin is currently being clinically evaluated in four
indications: bullous pemphigoid (BP), atopic keratoconjunctivitis
(AKC), atypical hemolytic uremic syndrome (aHUS), and paroxysmal
nocturnal hemoglobinuria (PNH). Akari believes that the dual action
of Coversin on both C5 and LTB4 may be beneficial in AKC, BP, and
aHUS. Akari is also developing other tick derived proteins,
including longer acting versions.
Cautionary Note Regarding Forward-Looking
Statements
Certain statements in this press release constitute
“forward-looking statements” within the meaning of the Private
Securities Litigation Reform Act of 1995. These forward-looking
statements reflect our current views about our plans, intentions,
expectations, strategies and prospects, which are based on the
information currently available to us and on assumptions we have
made. Although we believe that our plans, intentions, expectations,
strategies and prospects as reflected in or suggested by those
forward-looking statements are reasonable, we can give no assurance
that the plans, intentions, expectations or strategies will be
attained or achieved. Furthermore, actual results may differ
materially from those described in the forward-looking statements
and will be affected by a variety of risks and factors that are
beyond our control. Such risks and uncertainties for our company
include, but are not limited to: needs for additional capital to
fund our operations, our ability to continue as a going concern;
uncertainties of cash flows and inability to meet working capital
needs; an inability or delay in obtaining required regulatory
approvals for Coversin and any other product candidates, which may
result in unexpected cost expenditures; our ability to obtain
orphan drug designation in additional indications; risks inherent
in drug development in general; uncertainties in obtaining
successful clinical results for Coversin and any other product
candidates and unexpected costs that may result therefrom;
difficulties enrolling patients in our clinical trials; failure to
realize any value of Coversin and any other product candidates
developed and being developed in light of inherent risks and
difficulties involved in successfully bringing product candidates
to market; inability to develop new product candidates and support
existing product candidates; the approval by the FDA and EMA and
any other similar foreign regulatory authorities of other competing
or superior products brought to market; risks resulting from
unforeseen side effects; risk that the market for Coversin may not
be as large as expected; risks associated with the departure of our
former Chief Executive Officers and other executive officers; risks
related to material weaknesses in our internal controls over
financial reporting and risks relating to the ineffectiveness of
our disclosure controls and procedures; risks associated with the
putative shareholder class action and SEC investigation; inability
to obtain, maintain and enforce patents and other intellectual
property rights or the unexpected costs associated with such
enforcement or litigation; inability to obtain and maintain
commercial manufacturing arrangements with third party
manufacturers or establish commercial scale manufacturing
capabilities; the inability to timely source adequate supply of our
active pharmaceutical ingredients from third party manufacturers on
whom the company depends; unexpected cost increases and
pricing pressures and risks and other risk factors detailed in our
public filings with the U.S. Securities and Exchange Commission,
including our most recently filed Annual Report on Form 20-F filed
with the SEC on July 18, 2018. Except as otherwise noted, these
forward-looking statements speak only as of the date of this press
release and we undertake no obligation to update or revise any of
these statements to reflect events or circumstances occurring after
this press release. We caution investors not to place considerable
reliance on the forward-looking statements contained in this press
release.
For more informationInvestor Contact:
Peter VozzoWestwicke Partners(443)
213-0505peter.vozzo@westwicke.com
Media Contact:
Mary-Jane Elliott / Sukaina Virji / Nicholas BrownConsilium
Strategic Communications+44 (0)20 3709
5700Akari@consilium-comms.com
Akari Therapeutics (NASDAQ:AKTX)
Historical Stock Chart
From Apr 2024 to May 2024
Akari Therapeutics (NASDAQ:AKTX)
Historical Stock Chart
From May 2023 to May 2024