SAN DIEGO, Aug. 1, 2019 /PRNewswire/ -- Immunic,
Inc. (Nasdaq: IMUX), a
clinical-stage biopharmaceutical company focused on
developing potentially best-in-class, oral therapies for the
treatment of chronic inflammatory and autoimmune diseases, today
announced that the German Federal Ministry of Education and
Research has awarded its subsidiary, Immunic AG, a grant in the
amount of up to EUR 653,535
(approximately USD 730,000) in
support of the InnoMuNiCH (Innovations through Munich-Nippon
Cooperation in Healthcare) project. The InnoMuNiCH project is
coordinated by BioM Biotech Cluster Development GmbH and supported
by the Ministry of Education and Research, as part of the funding
program, "Internationalization of Leading-Edge Clusters,
Forward-Looking Projects and Other, Comparable Networks." The goal
of the project is to accelerate global biopharmaceutical
innovations by pooling German-Japanese competencies in research and
development.
With this funding, Immunic and its partners, a Japanese pharma
company, the University of Kyoto
and quattro research GmbH, will initiate a three-year research
project entitled, "The regulation and metabolism of inflammatory T
helper cells in autoimmune diseases and the identification of
pharmacologically influenced inflammation-associated biomarkers."
The project intends to investigate the effect of small molecule
compounds on cellular metabolism and to study their impact on the
development of T helper cells and the corresponding regulation of
relevant proteins, including cytokines. Specifically, Immunic and
its partners will seek to analyze and better understand the
molecular effect of therapeutic compounds that target Th1, Th17 and
other cells associated with chronic inflammatory and autoimmune
diseases. The project will run from August
1, 2019 to July 31, 2022. The
grant awarded to Immunic represents 50% of the project's total
estimated budget of up to EUR 1.3
million (approximately USD 1.5
million).
"One of the key challenges of developing small molecule
therapies for chronic inflammatory and autoimmune diseases is a
lack of selectivity, often leading to a host of serious side
effects," stated Hella Kohlhof,
Ph.D., Chief Scientific Officer of Immunic. "Th1 and Th17 cells
play a major role in conditions such as multiple sclerosis, chronic
inflammatory bowel disease and psoriasis, among others. By
combining Immunic's expertise in targeting intracellular metabolism
with the vast experience and resources of each of our partners, we
are hopeful that the results will lead to development of new
therapeutic options for a range of underserved diseases, as well as
to qualified biomarkers that will enable us to identify patients
who may best respond to such therapies."
About Immunic, Inc.
Immunic, Inc. (Nasdaq: IMUX) is a
clinical-stage biopharmaceutical company developing a pipeline of
selective oral immunology therapies aimed at treating chronic
inflammatory and autoimmune diseases, including ulcerative colitis,
Crohn's disease, relapsing-remitting multiple sclerosis, and
psoriasis. The company is developing three small molecule products:
IMU-838 is a selective immune modulator that inhibits the
intracellular metabolism of activated immune cells by blocking the
enzyme DHODH; IMU-935 is an inverse agonist of RORγt; and IMU-856
targets the restoration of the intestinal barrier function.
Immunic's lead development program, IMU-838, is in phase 2 clinical
development for ulcerative colitis and relapsing-remitting multiple
sclerosis, with an additional phase 2 trial in Crohn's disease
planned for 2019. An investigator-sponsored proof-of-concept
clinical trial for IMU-838 in primary sclerosing cholangitis is
planned to start at the Mayo Clinic. For further information,
please visit: www.immunic-therapeutics.com.
Cautionary Statement Regarding Forward-Looking
Statements
This press release contains "forward-looking
statements" that involve substantial risks and uncertainties for
purposes of the safe harbor provided by the Private Securities
Litigation Reform Act of 1995. All statements, other than
statements of historical facts, included in this press release
regarding strategy, future operations, future financial position,
future revenue, projected expenses, prospects, plans and objectives
of management are forward-looking statements. Examples of such
statements include, but are not limited to, statements relating to
Immunic's projects with research partners; Immunic's three
development programs and the targeted diseases; the potential for
IMU-838, IMU-935 and IMU-856 to safely and effectively target
diseases; the timing of future clinical trials; the nature,
strategy and focus of the company; and the development and
commercial potential of any product candidates of the company.
Immunic may not actually achieve the plans, carry out the
intentions or meet the expectations or projections disclosed in the
forward-looking statements and you should not place undue reliance
on these forward-looking statements. Such statements are based on
management's current expectations and involve risks and
uncertainties. Actual results and performance could differ
materially from those projected in the forward-looking statements
as a result of many factors, including, without limitation, risks
and uncertainties associated with the ability to project future
cash utilization and reserves needed for contingent future
liabilities and business operations, the availability of sufficient
resources to meet business objectives and operational requirements,
the fact that the results of earlier studies and trials may not be
predictive of future clinical trial results, the protection and
market exclusivity provided by Immunic's intellectual property,
risks related to the drug development and the regulatory approval
process and the impact of competitive products and technological
changes. Immunic disclaims any intent or obligation to update these
forward-looking statements to reflect events or circumstances that
exist after the date on which they were made.
Contact Information
Immunic, Inc.
Jessica Breu
Manager IR and Communications
+49 89 250 0794 69
jessica.breu@immunic.de
Or
Rx Communications Group
Melody Carey
+1-917-322-2571
immunic@rxir.com
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SOURCE Immunic, Inc.