Cassava Sciences Announces New $2.7 Million Research Grant Award from National Institutes of Health
May 12 2021 - 7:30AM
Cassava Sciences, Inc. (Nasdaq: SAVA), a clinical-stage
biotechnology company focused on Alzheimer’s disease, today
announced that it has been awarded a new $2.7 million research
grant award from the National Institutes of Health (NIH). This
research grant is intended to fund clinical readiness activities in
support of Cassava Sciences’ upcoming Phase 3 program with
simufilam, its drug candidate for Alzheimer’s disease.
"We appreciate the continued scientific and
financial support provided by NIH for simufilam,” said Remi
Barbier, President & CEO of Cassava Sciences. “We believe
simufilam’s clinical safety, unique mechanism of action and
constellation of clinical and biomarker results to date all point
to long-term disease modification and we are excited to join hands
with NIH on this program.”
The NIH's National Institute on Aging (NIA)
awarded Cassava Sciences this $2.7 million research grant award
following peer review of clinical and scientific data for
simufilam. Peer review is a process whereby independent, outside
scientists with relevant expertise evaluate the merits of new and
innovative research.
About SimufilamSimufilam is a
proprietary, small molecule (oral) drug that restores the normal
shape and function of altered filamin A (FLNA), a scaffolding
protein, in the brain. Altered FLNA in the brain disrupts the
normal function of neurons, leading to Alzheimer’s pathology,
neurodegeneration and neuroinflammation. The underlying science for
simufilam is published in peer-reviewed journals, including Journal
of Neuroscience, Neurobiology of Aging, Journal of Biological
Chemistry, Neuroimmunology and Neuroinflammation and Journal of
Prevention of Alzheimer’s Disease. Cassava Sciences is also
developing an investigational diagnostic, called SavaDx, to detect
Alzheimer’s disease with a simple blood test. Simufilam and SavaDx
were both developed in-house. Both product candidates are
substantially funded by peer-review research grant awards from the
National Institutes of Health (NIH).
Cassava Sciences owns worldwide development and
commercial rights to its research programs in Alzheimer’s disease,
and related technologies, without royalty obligations to any third
party.
About Alzheimer’s
Disease Alzheimer’s disease is a progressive brain
disorder that destroys memory and thinking skills. Currently, there
are no drug therapies to halt Alzheimer’s disease, much less
reverse its course. As of 2020, there were over 50 million people
worldwide living with dementia, a figure expected to increase to
150 million by 2050.1 The annual global cost of dementia is now
above $1 trillion, according to Alzheimer’s
Disease International, a charitable organization.
About Cassava Sciences,
Inc.Cassava Sciences’ mission is to discover and develop
innovations for chronic, neurodegenerative conditions. Over the
past 10 years, Cassava Sciences has combined state-of-the-art
technology with new insights in neurobiology to develop novel
solutions for Alzheimer’s disease. For more information, please
visit: https://www.CassavaSciences.com.
For More Information Contact:
Eric Schoen, Chief Financial
Officereschoen@CassavaSciences.com(512) 501-2450
The content of this press release is solely the
responsibility of Cassava Sciences and does not necessarily
represent the official views of the NIH.
Cautionary Note Regarding
Forward-Looking Statements: This news release contains
forward-looking statements, including statements made pursuant to
the safe harbor provisions of the Private Securities Litigation
Reform Act of 1995, relating to: our strategy and plans; the
treatment of Alzheimer’s disease; the status of current and future
clinical studies with simufilam; the potential for simufilam to
show disease-modification; verbal commentaries made by our
employees; and potential benefits, if any, of our product
candidates. These statements may be identified by words such as
“may,” “anticipate,” “believe,” “could,” “expect,” “would”,
“forecast,” “intend,” “plan,” “possible,” “potential,” and other
words and terms of similar meaning.
Drug development involves a high degree of risk,
and historically only a small number of research and development
programs result in commercialization of a product. Clinical results
from our earlier-stage clinical trials may not be indicative of
full results or results from later-stage or larger scale clinical
trials and do not ensure regulatory approval. You should not place
undue reliance on these statements or any scientific data we
present or publish.
Such statements are based largely on our current
expectations and projections about future events. Such statements
speak only as of the date of this news release and are subject to a
number of risks, uncertainties and assumptions, including, but not
limited to, those risks relating to the ability to conduct or
complete clinical studies on expected timelines, to demonstrate the
specificity, safety, efficacy or potential health benefits of our
product candidates, the severity and duration of health care
precautions given the COVID-19 pandemic, any unanticipated impacts
of the pandemic on our business operations, and including those
described in the section entitled “Risk Factors” in our Annual
Report on Form 10-K for the year ended December 31, 2020 and future
reports to be filed with the SEC. The foregoing sets forth many,
but not all, of the factors that could cause actual results to
differ from expectations in any forward-looking statement. In light
of these risks, uncertainties and assumptions, the forward-looking
statements and events discussed in this news release are inherently
uncertain and may not occur, and actual results could differ
materially and adversely from those anticipated or implied in the
forward-looking statements. Accordingly, you should not rely upon
forward-looking statements as predictions of future events. Except
as required by law, we disclaim any intention or responsibility for
updating or revising any forward-looking statements contained in
this news release.
For further information regarding these and
other risks related to our business, investors should consult our
filings with the SEC, which are available on the SEC's website at
www.sec.gov.
1 Alzheimer's Disease International, Dementia Statistics,
available on-line and accessed May 11, 2021.
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