Cocrystal Pharma Provides COVID-19 Impact Update on Development Programs
May 11 2020 - 8:05AM
Cocrystal Pharma, Inc. (NASDAQ: COCP), (“Cocrystal” or
the “Company”), a clinical stage biotechnology company
discovering and developing novel antiviral therapeutics,
today provided an update on the impact of the COVID-19 global
pandemic on its preclinical and clinical development programs.
“We have reprioritized development activities to
accelerate the advancement of our preclinical COVID-19 program,
which we recently established as a result of our license agreements
with Kansas State University Research Foundation (KSRF),” commented
Dr. Gary Wilcox, Chairman and Chief Executive Officer of Cocrystal.
“Like many of our peers, we have been working to minimize the
impact of the COVID-19 pandemic on our operations. While we have
been able to mitigate some of the risks, the worldwide impact on
supply chains has resulted in a delay to our fully owned influenza
A virus program. The full impact of COVID-19 on our development
programs remains uncertain, but our team is determined to advance
preclinical and clinical development programs across our pipeline
as quickly and efficiently as possible.”
Programs Update
Influenza A/B Inhibitors: Merck
Collaboration
Cocrystal’s exclusive license and collaboration
agreement with Merck to discover and develop certain proprietary
influenza A/B antiviral agents remains ongoing. Cocrystal has been
working with the scientific leadership at Merck over the past year
in advancing the joint influenza A/B program. Merck, a global
healthcare company with a history of over 125-years of drug
discovery and innovation, has funded the collaborative influenza
A/B program and could provide up to $156 million in milestones
payments as the collaboration proceeds through clinical and
commercial development. The research and collaboration agreement
with Merck also provides for royalties following
commercialization.
CC-42344: Influenza A
Program
The Company’s lead molecule in development,
CC-42344, is currently being evaluated in preclinical IND-enabling
studies for the treatment of influenza. CC-42344 has shown
excellent antiviral activity against influenza A strains, including
avian pandemic strains and Tamiflu® resistant strains, and shows a
favorable pharmacokinetic and safety profile.
Cocrystal is currently working to secure its
supply chain and initiate its second lot of API synthesis for its
influenza A program in Q3 2020. Subject to any additional delays
due to the evolving COVID-19 pandemic, Cocrystal expects to file
its regulatory submission and commence its Phase 1a study in
2021.
COVID-19 Coronavirus
Program
The Company is currently advancing its
Coronavirus program by leveraging the rights to preclinical leads
from its license agreements with KSURF to further develop certain
proprietary broad-spectrum antiviral compounds for the treatment of
coronavirus (COVID-19) infections. The additional compounds
licensed from KSURF have demonstrated both in vitro and in vivo
activity in animal models against the viral pathogens causing MERS
and SARS, coronaviruses that are structurally similar to
SARS-CoV-2, which is responsible for the COVID-19 pandemic.
Cocrystal initiated its preclinical studies of
COVID-19 inhibitors received from KSURF during Q2 2020, and further
intends to identify additional COVID-19 inhibitors utilizing its
proprietary platform technology over the course of the second and
third quarter of this year. The Company plans to identify
additional inhibitors using its proprietary platform technology in
Q3 2020 and anticipates the selection of its lead preclinical
molecule in Q4 2020.
CC-31244: Hepatitis C
Program
The final study report of Cocrystal’s U.S. Phase
2a clinical trial evaluating CC-31244 combination therapy for the
ultrashort treatment of hepatitis C virus (“HCV”) infected
individuals has been completed and confirms the previously released
data that it is effective and well tolerated. Partnering efforts
are currently underway for the Company’s fully owned ultrashort
treatment of HCV.
Norovirus Program
Cocrystal continues to identify and develop
non-nucleoside polymerase inhibitors using its proprietary
structure-based drug design technology platform. Cocrystal recently
entered into a license agreement with KSURF to further develop
certain proprietary broad-spectrum antiviral compounds for humans
to treat Norovirus and Coronavirus infections. Preclinical
activities for Cocrystal’s Norovirus program are currently
underway. The Company expects to complete its proof-of-concept
animal model study in Q4 2020.
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 that we could receive
milestone and royalty payments under the research and collaboration
agreement with Merck; the expected timing of initiation of the
second lot of API and the filing of the regulatory submission and
commencement of the Phase 1a study for the influenza A program; the
anticipated timing of identification of additional COVID-19
inhibitors and selection of its lead preclinical molecule in the
Coronavirus program; our expected progress in partnering
discussions regarding the ultrashort treatment of HCV, and the
expected progress of the Norovirus program, including the
completion of proof-of-concept animal model study. The words
"believe," "proceeds," "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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