Aditxt Provides an Update Regarding its Target Acquisition AiPharma Global Holdings LLC
November 12 2021 - 8:45AM
Business Wire
Aditxt, Inc. (“Aditxt”) (Nasdaq: ADTX), a biotech innovation
company with a mission to improve the health of the immune system,
today announced that the global Phase 3 PRESECO (PREventing SEvere
COVID-19) trial evaluating oral Avigan®/Reeqonus™ (favipiravir) as
a potential at-home therapy for patients with mild-to-moderate
COVID-19, which was being run by Appili Therapeutics, Inc.
(“Appili”)(TSX: APLI), a consortium partner of AiPharma Global
Holdings LLC (“AiPharma Global”), did not achieve statistical
significance on the primary endpoint of time to sustained clinical
recovery. Additional analyses of the trial data are ongoing.
As previously announced, Aditxt has entered into a transaction
agreement to reach a definitive agreement by the end of November
2021 to acquire a subsidiary of AiPharma Global which is to own all
of the assets of AiPharma Global, a company focused on discovering,
developing and commercializing antiviral therapies across a broad
spectrum of infectious diseases. AiPharma Global is a
biopharmaceutical company that holds directly, or through its
affiliates worldwide (excluding Japan), exclusive rights to
Avigan/Reeqonus/Qifenda and all formulations of favipiravir, a
broad spectrum oral antiviral drug that targets COVID-19 and other
infectious diseases.
“We are reviewing and evaluating the announced results and data,
and will be discussing them with AiPharma Global to determine the
best course of action,” stated Aditxt Co-Founder and CEO Amro
Albanna.
The full text of Appili’s release can be found at:
https://www.appilitherapeutics.com/news.
About Aditxt:
Aditxt is developing technologies focused on improving the
health of the immune system through immune monitoring and
reprogramming. Aditxt’s immune monitoring technology is designed to
provide a personalized comprehensive profile of the immune system.
Aditxt’s immune reprogramming technology is currently at the
pre-clinical stage and is designed to retrain the immune system to
induce tolerance with an objective of addressing rejection of
transplanted organs, autoimmune diseases, and allergies. For more
information, please visit: www.aditxt.com.
Forward-Looking Statements
Certain statements in this press release constitute
“forward-looking statements” within the meaning of federal
securities laws. Forward-looking statements include statements
regarding the Company’s intentions, beliefs, projections, outlook,
analyses or current expectations concerning, among other things,
the Company’s ongoing and planned product and business development;
the Company’s intellectual property position; the Company’s ability
to develop commercial functions; expectations regarding product
launch and revenue; the Company’s results of operations, cash
needs, spending, financial condition, liquidity, prospects, growth
and strategies; the industry in which the Company operates; and the
trends that may affect the industry or the Company. Forward-looking
statements are not guarantees of future performance and actual
results may differ materially from those indicated by these
forward-looking statements as a result of various important
factors, as well as those risks more fully discussed in the section
titled “Risk Factors” in the Company’s most recent Annual Report on
Form 10-K, as well as discussions of potential risks,
uncertainties, and other important factors in the Company’s other
filings with the Securities and Exchange Commission. All such
statements speak only as of the date made, and the Company
undertakes no obligation to update or revise publicly any
forward-looking statements, whether as a result of new information,
future events or otherwise.
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version on businesswire.com: https://www.businesswire.com/news/home/20211112005622/en/
Media and Investor Relations Contact: Aditxt, Inc.
ir@aditxt.com
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