IMMUNOTHERAPY COMPANY ENLIVEX THERAPEUTICS SELECTED TO RECEIVE AN ADDITIONAL $1 MILLION GRANT BY THE ISRAEL INNOVATION AUTHOR...
April 18 2019 - 8:15AM
Enlivex Therapeutics Ltd. (Nasdaq: ENLV), a clinical-stage
immunotherapy company, today announced that the Israel Innovation
Authority (IIA) selected the Company’s clinical program for
prevention of cytokine storms and organ dysfunction associated with
sepsis to receive a non-dilutive grant of approximately $1.0
million for 2019.
Enlivex is eligible to receive additional grants from the IIA
for this clinical program in 2020 and 2021, subject to certain
terms and conditions. To date, Enlivex has received a total of
approximately $4.2 million of grants from the IIA.
The IIA is an independent, publicly funded agency charged with
fostering the development of industrial R&D within the State of
Israel. It provides non-dilutive grants that become repayable only
via royalties from future sales of products developed with the
support of the IIA.
Enlivex is currently planning to initiate a Phase II trial of
ALLOCETRATM studying the prevention of cytokine storms and
organ dysfunction associated with sepsis and is currently planning
a Phase II/III trial of ALLOCETRATM studying the prevention of
complications post bone-marrow transplantations for early 2020.
Enlivex is developing a novel immunotherapy candidate with a
unique mode of action that targets clinical indications defined as
“life-threatening, unmet medical need,” such as preventing or
treating complications associated with bone-marrow
transplantations, sepsis – which is the third-leading cause of
mortality in the United States after cardiovascular and cancer
diseases, as well as treatment of solid tumors via immune
checkpoint reprogramming, potentially increasing the efficacy of
CAR-T, TCR and other anti-cancer therapies.
ABOUT ENLIVEX Enlivex is a clinical stage
immunotherapy company, developing an allogeneic drug pipeline for
immune system rebalancing. Immune system rebalancing is critical
for the treatment of life-threatening immune and inflammatory
conditions which involve hyper-expression of cytokines (Cytokine
Release Syndrome) and for which there are no approved treatments
(unmet medical needs), as well as solid tumors immune-checkpoint
rebalancing. For more information,
visit http://www.enlivex.com.
Safe Harbor Statement: This press release contains
forward-looking statements, which may be identified by words such
as “expects,” “plans,” “projects,” “will,” “may,” “anticipates,”
“believes,” “should,” “would”, “intends,” “estimates,” “suggests,”
“has the potential to” and other words of similar meaning,
including statements regarding expected cash balances, market
opportunities for the results of current clinical studies and
preclinical experiments, the effectiveness of, and market
opportunities for, ALLOCETRATM programs, which are made
pursuant to the safe harbor provisions of the Private Securities
Litigation Reform Act of 1995. Investors are cautioned that
forward-looking statements involve risks and uncertainties that may
affect Enlivex’s business and prospects, including the risks that
Enlivex may not succeed in generating any revenues or developing
any commercial products; that the products in development may fail,
may not achieve the expected results or effectiveness and/or may
not generate data that would support the approval or marketing of
these products for the indications being studied or for other
indications; that ongoing studies may not continue to show
substantial or any activity; and other risks and uncertainties that
may cause results to differ materially from those set forth in the
forward-looking statements. The results of clinical trials in
humans may produce results that differ significantly from the
results of clinical and other trials in animals. The results of
early-stage trials may differ significantly from the results of
more developed, later-stage trials. The development of any products
using the ALLOCETRATM product line could also be affected by a
number of other factors, including unexpected safety, efficacy or
manufacturing issues, additional time requirements for data
analyses and decision making, the impact of pharmaceutical industry
regulation, the impact of competitive products and pricing and the
impact of patents and other proprietary rights held by competitors
and other third parties. In addition to the risk factors
described above, investors should consider the economic,
competitive, governmental, technological and other factors
discussed in Enlivex’s filings with the Securities and Exchange
Commission. The forward-looking statements contained in this
press release speak only as of the date the statements were made,
and we do not undertake any obligation to update forward-looking
statements, except as required under applicable law.
ENLIVEX CONTACT:
Shachar Shlosberger, CFO
Enlivex Therapeutics,
Ltd.
shachar@enlivexpharm.com
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