Ocean Biomedical, Inc., a biopharma company working to accelerate
the development and commercialization of scientifically compelling
assets from research universities and medical centers, announced
today that its Scientific Co-founder, Jonathan Kurtis, MD, PhD,
presented details of the Company’s novel malaria treatment approach
to scientists at the National Institute of Health’s (NIH)
Laboratory of Malaria Vaccinology and Immunology in Bethesda, MD
during a meeting held last month. Building on his groundbreaking
discovery that the parasite protein PfGARP is potentially a highly
effective vaccine target to treat malaria, Dr. Kurtis presented
data demonstrating that engagement of PfGARP is critical for
regulating parasite density within the human host as it triggers
the malaria parasite to kill itself. Developments shared at the
meeting detail how Dr. Kurtis’ team used a novel approach to
capitalize on PfGARPs ability to kill parasites, targeting it for
potential drug development.
This follows Ocean Biomedical’s prior
announcement that Dr. Jack A. Elias in a recent talk shared
details of his team’s discoveries of the role that glycoprotein
CHI3L1 has in regulating primary and metastatic lung cancer,
glioblastoma multiforme, and broader oncogenic pathways. Dr. Elias
is Ocean Biomedical’s other Scientific Co-founder and Dean Emeritus
of Medicine and Biological Sciences at Brown University.
In his talk, Dr. Kurtis detailed his unique
Whole Proteome Differential Screening technique used to contrast
the antibody repertoires of malaria-resistant children versus
malaria-susceptible children. This differential screening technique
has led to the discovery of three key targets that are being
formulated into a highly effective malaria vaccine candidate being
advanced by Dr. Kurtis and Ocean Biomedical. Dr. Kurtis
also detailed how his team identified small molecule candidates
that bind to and activate PfGARP, leading to parasite death.
The data generated by Dr. Kurtis’ lab has
demonstrated that the family of small molecule candidates in
development by Dr. Kurtis’ team are highly specific for PfGARP
binding, are non-toxic in multiple in vitro and in vivo systems,
have excellent pharmacokinetic properties, and rapidly clear
parasitemia in animal models. This discovery has allowed
Ocean Biomedical to begin simultaneously pursuing the development
of a novel malaria vaccine, and novel malaria
therapeutics.
Global Need
Malaria is still the greatest single-agent
killer of children on the planet, killing approximately 627,000
individuals in 2022. Artemisinin-based drug therapy remains the
mainstay of treatment, but the spread of parasites resistant to
this family of compounds threatens recent progress achieved by
antimalarial campaigns and underscores the urgent need to identify
new anti-malarial drugs. In a 2022 report, the World Health
Organization warned of a surge in mosquito-borne diseases due to
global warming, which is increasing vector survival and biting
rates.
Leadership Comments
“We desperately need new drugs for severe
malaria,” said Dr. Kurtis, who is also a member of Ocean
Biomedical’s board of directors and Chair of Pathology and
Laboratory Medicine at the Warren Alpert Medical School at Brown
University. “We’re hopeful that this might lead to a whole new
class of anti-malarial drugs. It was a privilege to have the
opportunity to share this work with colleagues at NIH, especially
Drs. Patrick Duffy and Michal Fried who have helped advance our
work at every stage.”
“This malaria vaccine discovery, along with the
prior discovery of bispecific antibodies and immune checkpoint
inhibitors that kill Glioblastoma cells and melanoma cells, will
save thousands of lives and lead to long-term shareholder value
growth,” commented Dr. Chirinjeev Kathuria, Chairman and co-founder
of Ocean Biomedical. “We look forward to bringing these malaria
vaccine candidates to the people of Asia and Africa and to the
possibility of preventing the leading cause of childhood deaths
globally.”
“With the rising resistance to artemisinin-based
drugs in sub-Saharan Africa, it is imperative that we get new
malaria therapeutics into the drug development pipeline,” said
Elizabeth Ng, Ocean Biomedical’s Chief Executive Officer. “We are
pleased to be working on multiple solutions to this ongoing global
health crisis, and to have the opportunity to share it with some of
the nation’s top malaria researchers.”
Suren Ajjarapu, a director of Ocean Biomedical,
commented, “We’re proud to be collaborating with our nation’s top
scientists to move these important programs forward.”
About Ocean Biomedical Ocean
Biomedical, Inc. is a Providence, Rhode Island-based biopharma
company with an innovative business model that accelerates the
development and commercialization of scientifically compelling
assets from research universities and medical centers. Ocean
Biomedical deploys the funding and expertise to move new
therapeutic candidates efficiently from the laboratory to the
clinic, to the world. Ocean Biomedical is currently developing five
promising discoveries that have the potential to achieve
life-changing outcomes in lung cancer, brain cancer, pulmonary
fibrosis, and the prevention and treatment of malaria. The Ocean
Biomedical team is working on solving some of the world’s toughest
problems, for the people who need it most.
To learn more, visit www.oceanbiomedical.com.
Forward-Looking Statements
The information included herein and in any oral
statements made in connection herewith include “forward-looking
statements” within the meaning of the “safe harbor” provisions of
the United States Private Securities Litigation Reform Act of 1995.
Forward-looking statements may be identified by the use of words
such as “estimate,” “plan,” “project,” “forecast,” “intend,”
“will,” “expect,” “anticipate,” “believe,” “seek,” “target,” or
other similar expressions that predict or indicate future events or
trends or that are not statements of historical matters, although
not all forward-looking statements contain such identifying words.
These forward-looking statements include but are not limited to:
the expected timing and success of investigational new drug (“IND”)
filings for our initial product candidates; statements regarding
the expected timing of our IND-enabling studies; the frequency and
timing of filing additional INDs; expectations regarding the
availability and addition of future assets to our pipeline; the
advantages of any of our pipeline assets and platforms; the
potential benefits of our product candidates; potential commercial
opportunities; the timing of key milestones for our programs; the
future financial condition, results of operations, business
strategy and plans, and objectives of management for future
strategy and operations; and statements about industry trends and
other companies in the industry. These forward-looking statements
are based on various assumptions, whether or not identified herein,
and on the current expectations of the Company’s management, and
they are not predictions of actual performance. These
forward-looking statements are provided for illustrative purposes
only and are not intended to serve as, and must not be relied on by
any investor as, a guarantee, an assurance, a prediction, or a
definitive statement of fact or probability. Actual events and
circumstances are difficult or impossible to predict and will
differ from assumptions.
Any discoveries announced by the Company are
based solely on laboratory and animal studies. Ocean Biomedical has
not conducted any studies that show similar efficacy or safety in
humans. There can be no assurances that any treatment tested by the
Company will prove safe or effective in humans, and any clinical
benefit of any such treatment is subject to clinical trials and
ultimate approval of its use in patients by the FDA. Such approval,
if granted, could be years away.
Forward-looking statements are predictions,
projections, and other statements about future events that are
based on current expectations and assumptions and, as a result, are
subject to risks and uncertainties. These forward-looking
statements are not guarantees of future performance, conditions, or
results, and involve a number of known and unknown risks,
uncertainties, assumptions, and other important factors, many of
which are outside the control of the Company that could cause
actual results or outcomes to differ materially from those
discussed in the forward-looking statements. Important factors,
among others, that may affect actual results or outcomes include
but are not limited to: recently transitioning to operating as a
NASDAQ-listed public company with a limited operating history; our
ability to successfully complete our pre-clinical trials and for
those trials to produce positive results; our ability to timely
file and obtain approval of INDs from the FDA in the future; the
timing of the initiation, progress and potential results of our
planned pre-clinical studies and clinical trials and our research
programs; our ability to access additional product candidates from
research universities and medical centers; the timing or likelihood
of regulatory filings and approvals; the commercializing of our
product candidates, if approved; our product development and
marketing strategy; our ability and the potential to successfully
manufacture and supply our product candidates for clinical trials
and for commercial use, if approved; future strategic arrangements
and/or collaborations and partnerships, and the potential benefits
of such arrangements; our assessment that the early observations
from our pre-clinical studies are encouraging; the potential for
IND-enabling studies and future clinical trial results to differ
from initial results or from our pre-clinical studies; regulatory
developments in the United States and other countries; difficulties
in managing our growth; our estimates regarding expenses, future
revenue, capital requirements and needs for financing and our
ability to obtain capital; the sufficiency of our existing and
anticipated capital to fund our planned operating expenses; our
ability to retain the continued service of our key personnel and to
identify, hire and retain additional qualified professionals; the
implementation of our business model and strategic plans for our
business and product candidates; the scope of protection we are
able to establish and maintain for intellectual property rights,
product candidates and our pipeline; our ability to contract with
third-party suppliers and manufacturers and their ability to
perform adequately; the pricing, coverage and reimbursement of our
product candidates, if approved; developments relating to our
competitors and our industry, including competing product
candidates and therapies; changes in the markets in which the
Company competes, including with respect to its competitive
landscape, technology evolution, or regulatory changes; changes in
domestic and global general economic and market conditions; risks
related to the ongoing COVID-19 pandemic and response, including
supply chain disruptions; the risk that the Company may fail to
keep pace with rapid technological developments to provide new and
innovative products and services or make substantial investments in
unsuccessful new products and services; the outcome of any legal
proceedings that may be instituted against the Company; the risk of
product liability or regulatory lawsuits or proceedings relating to
the Company’s business; the risk of cyber security or foreign
exchange losses; the risk that the Company is unable to secure or
protect its intellectual property; the risk that the Company may
not be able to develop and maintain effective internal controls;
the ability to develop, license, or acquire new therapeutics; the
risk that the Company will need to raise additional capital to
execute its business plan, which may not be available on acceptable
terms or at all; and those factors discussed in the Company’s
filings with the SEC.
The foregoing list of factors is not exhaustive.
You should carefully consider the foregoing factors and the other
risks and uncertainties that are described in the Company’s Annual
Report on Form 10-K for the year ended December 31, 2021 and its
Quarterly Report on Form 10-Q for the quarter ended September 30,
2022, and which are described in the “Risk Factors” section of the
Company’s definitive proxy statement filed by the Company on
January 12, 2023, and other documents to be filed by the Company
from time to time with the SEC and which are and will be available
at www.sec.gov. These filings identify and address other important
risks and uncertainties that could cause actual events and results
to differ materially from those contained in the forward-looking
statements. Forward-looking statements speak only as of the date
they are made. We do not undertake any obligation to update any
forward-looking statements made by us. Readers are cautioned not to
put undue reliance on forward-looking statements. These
forward-looking statements should not be relied upon as
representing the Company’s assessments as of any date subsequent to
the date of this filing. Accordingly, undue reliance should not be
placed upon the forward-looking statements.
Ocean Biomedical Investor RelationsOCEANIR@westwicke.com
Ocean Biomedical Media RelationsOCEANPR@westwicke.com
Kevin KertscherCommunications Director
Ocean Biomedical (NASDAQ:OCEAW)
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