BOSTON, June 1, 2020 /PRNewswire/ -- Proteostasis
Therapeutics, Inc. (Nasdaq:PTI), a clinical stage biopharmaceutical
company dedicated to the discovery and development of
groundbreaking therapies to treat cystic fibrosis (CF), today
announced results from in vitro studies evaluating the use
of PTI-129 as a treatment for COVID-19. PTI-129 is a pre-clinical,
once-daily, oral small molecule originally designed to treat
protein misfolding disorders involving the unfolded protein
response (UPR).
Upon infection, coronaviruses hijack the host cell endoplasmic
reticulum (ER) to quickly produce a larger quantity of
misfolding-prone viral glycoproteins. The accumulation of
misfolded and unfolded proteins in the ER causes ER stress and
induces the UPR. In in vitro studies conducted at
Calibr, the drug discovery division of Scripps Research, PTI-129
demonstrated the potential to reduce viral protein production in
host cells by activating the adaptive branches of the UPR pathway
and reducing the levels of misfolded proteins.
"The ongoing COVID-19 pandemic is a public health crisis that
demands the investigation of all possible avenues of resolution,"
said Meenu Chhabra, President and
CEO of Proteostasis. "We are exploring ways to further our
understanding of PTI-129's potential in fighting COVID-19, and are
seeking support from governmental agencies to accelerate this
program."
"The urgent need to develop effective treatments against
COVID-19 is a global priority, and Calibr is committed to studying
a broad spectrum of compounds and pathways, such as the UPR
modulator, PTI-129, in the fight against this disease," said
Arnab Chatterjee, PhD, Vice
President of Medicinal Chemistry at Calibr.
About Proteostasis Therapeutics, Inc.
Proteostasis Therapeutics, Inc. is a clinical stage
biopharmaceutical company developing small molecule therapeutics to
treat cystic fibrosis and other diseases caused by dysfunctional
protein processing. Headquartered in Boston, MA,
the Proteostasis Therapeutics team focuses on identifying
therapies that restore protein function. For more information,
visit www.proteostasis.com.
Forward Looking Statements
This press release contains "forward-looking statements" within
the meaning of the Private Securities Litigation Reform Act of
1995, including, but not limited to, statements regarding our
expectations of PTI-129 as a potential treatment for COVID-19 based
on in vitro studies, the potential for partnership with and
support from government agencies, and potential therapeutic
potential of PTI-129. Words such as "aim," "may," "will,"
"expect," "anticipate," "estimate," "intend," and similar
expressions (as well as other words or expressions referencing
future events, conditions or circumstances) are intended to
identify forward-looking statements, although not all
forward-looking statements contain these identifying words. Any
forward-looking statements in this press release are based on
management's current expectations and beliefs and are subject to a
number of risks, uncertainties and important factors that may cause
actual events or results to differ materially from those expressed
or implied by any forward-looking statements contained in this
press release, including, without limitation, risks and
uncertainties related to include, results from in vitro
laboratory tests of PTI-129 are not necessarily predictive of
future clinical trial and in vivo results; the potential of
PTI-129 for the treatment of COVID-19; the delay of any current or
planned preclinical studies or clinical trials or the development
of our product candidates; our ability to successfully demonstrate
the efficacy and safety of our drug candidates including in
later-stage studies and trials; the preclinical and clinical
results for our product candidates, which may not support further
development of such product candidates; actions of regulatory
agencies, any or all of which may affect the initiation, timing and
progress of preclinical studies, clinical trials and regulatory
development. In addition, the COVID-19 pandemic and the associated
containment efforts have had a serious adverse impact on the
economy, the severity and duration of which are uncertain.
Government stabilization efforts will only partially mitigate the
consequences. The extent and duration of the impact on our business
and operations is highly uncertain, and that impact includes
effects on our commercialization and marketing, manufacturing and
supply chain, and clinical trial operations. Factors that will
influence the impact on our business and operations include the
duration and extent of the pandemic, the extent of imposed or
recommended containment and mitigation measures, and the general
economic consequences of the pandemic. The pandemic could have a
material adverse impact on our business, operations and financial
results for an extended period of time. For a discussion of other
risks and uncertainties, and other important factors, any of which
could cause our actual results to differ from those contained in
the forward-looking statements, see the section entitled "Risk
Factors" in our Quarterly Report on Form 10-Q for the quarter ended
March 31, 2020 filed with the
Securities and Exchange Commission on May
15, 2020, as well as discussions of potential risks,
uncertainties, and other important factors in our subsequent
filings with the Securities and Exchange Commission. We assume no
obligation to update or revise any forward-looking statements,
whether as a result of new information, future events or otherwise,
except as required by law.
CONTACTS:
Investors:
David Pitts
/ Claudia Styslinger
Argot Partners
212.600.1902
david@argotpartners.com / claudia@argotpartners.com
Media:
David Rosen
Argot Partners
212.600.1902
david.rosen@argotpartners.com
View original
content:http://www.prnewswire.com/news-releases/proteostasis-therapeutics-announces-in-vitro-data-for-pti-129-as-potential-treatment-candidate-for-covid-19-301068350.html
SOURCE Proteostasis Therapeutics, Inc.
