CDT Conduit Pharmaceuticals Inc

Conduit Pharmaceuticals Inc. (Nasdaq: CDT) (“Conduit” or the “Company”), is pleased to announce an agreement with Charles River Laboratories Inc (“Charles River”) to evaluate AZD1656 (and its derivatives) in a clinically relevant Systemic Lupus Erythematosus model. This collaboration highlights Conduit’s focus on generating high-quality preclinical data to optimize the development pathway for its clinical program in auto-immune and position itself for success in its upcoming Phase II clinical trials.

Conduit will leverage Charles River’s expertise in immunology and preclinical research to refine study parameters and generate robust data to evaluate the efficacy of its lead compound. By conducting this comprehensive study, Conduit aims to enhance the predictability of clinical outcomes, increase the efficiency of its planned Phase II trials, and ultimately improve the likelihood of success for AZD1656 as a potential treatment for autoimmune disorders.

This study is a critical step in Conduit’s development strategy, as it is expected to provide essential data to inform and de-risk future clinical trials. The primary aim is to better understand the impact of drug on disease progression in a lupus model, assessed by typical disease progression readouts. Furthermore, the study will gather data on the effect of the drug on inflammatory markers and pro-inflammatory cytokine levels to understand how the drug impacts Treg immunoregulation.

By generating this data early in the development process, Conduit aims to optimize its Phase II trials, by reducing development timelines and maximizing the therapeutic potential of AZD1656. This will strengthen the scientific foundation for Conduit’s primary asset but also enhance the value for potential out-licensing opportunities.

“We are excited to collaborate with Charles River, a global leader in drug discovery and early-stage drug development. Their expertise in immunology and research will provide Conduit with critical insights and allow us to refine our study design, improve the quality of our data, and ultimately increase the likelihood of clinical success,” said Dr. David Tapolczay, Chief Executive Officer of Conduit.

About Conduit Pharmaceuticals

Conduit is a dynamic, multi-asset clinical stage, life science company delivering an efficient model for compound development. Conduit both acquires and funds the development of Phase 2-ready assets, building an integrated and advanced platform-driven approach powered by artificial intelligence and cybernetics, and seeking an exit through third-party license deals following successful clinical trials. Led by a highly experienced team of pharmaceutical executives including Dr. David Tapolczay and Dr. Freda Lewis-Hall, this novel approach is a departure from the traditional pharma/biotech business model of taking assets through regulatory approval.

Forward-Looking Statements

This press release contains certain forward-looking statements within the meaning of the federal securities laws. All statements other than statements of historical facts contained in this press release, including statements regarding Conduit's future results of operations and financial position, Conduit's business strategy, prospective product candidates, product approvals, research and development costs, timing and likelihood of success, plans and objectives of management for future operations, future results of current and anticipated studies and business endeavors with third parties, and future results of current and anticipated product candidates, are forward-looking statements. These forward-looking statements generally are identified by the words "believe," "project," "expect," "anticipate," "estimate," "intend," "strategy," "future," "opportunity," "plan," "may," "should," "will," "would," "will be," "will continue," "will likely result," and similar expressions. These forward-looking statements are subject to a number of risks, uncertainties and assumptions, including, but not limited to; the inability to maintain the listing of Conduit's securities on Nasdaq; the ability to recognize the anticipated benefits of the business combination completed in September 2023, which may be affected by, among other things, competition; the ability of the combined company to grow and manage growth economically and hire and retain key employees; the risks that Conduit's product candidates in development fail clinical trials or are not approved by the U.S. Food and Drug Administration or other applicable authorities on a timely basis or at all; changes in applicable laws or regulations; the possibility that Conduit may be adversely affected by other economic, business, and/or competitive factors; and other risks  as identified in filings made by Conduit with the U.S. Securities and Exchange Commission. Moreover, Conduit operates in a very competitive and rapidly changing environment. Because forward-looking statements are inherently subject to risks and uncertainties, some of which cannot be predicted or quantified and some of which are beyond Conduit's control, you should not rely on these forward-looking statements as predictions of future events. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and except as required by law, Conduit assumes no obligation and does not intend to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise. Conduit gives no assurance that it will achieve its expectations.

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