Revelation Biosciences Inc. (Revelation), a clinical-stage life
sciences company that is focused on the development of
immunologic‑based therapies for the prevention and treatment of
disease, announced today that it engaged Destum Partners Inc. to
assist in finding an Ex-US development partner for its therapeutic
product candidate REVTx-99, and development partner(s) worldwide
for its therapeutic product candidate REVTx-200. Both products are
designed for the prevention and treatment of respiratory viral
infections.
REVTx-99, the lead therapeutic
candidate, is a broad anti-viral nasal drop solution that can be
used to prevent or treat respiratory viral infections, including
Influenza A, Influenza B, parainfluenza, rhinovirus, respiratory
syncytial virus (RSV) and SARS-CoV-2 including its variants.
REVTx-99 works by boosting the body’s innate immune system,
potentially preventing the user from becoming infected or
potentially reducing the severity of early infections. REVTx-99 is
also being developed for the treatment chronic nasal congestion.
Revelation plans to start a phase 1 proof of concept
allergen-challenge study, which is intended to support the chronic
nasal congestion program in the fourth quarter of 2021, and a Phase
2 viral challenge study in the first quarter of 2022.
REVTx-200 is an intranasal
immunomodulator adjunct to be used in combination with an
intramuscular vaccination for more complete immunity. REVTx-200 is
based on the same technology used in REVTx-99.
“The expertise, experience and success of the
Destum Partners’ team made this an easy decision,” said James
Rolke, Chief Executive Officer of Revelation. “With their strategy,
vision and robust global network, we anticipate Destum Partners
will help us find the right partners to get our therapeutics to the
people who need them.”
Matt Vanderberg, Managing Director and Partner, Destum Partners
added, “The products Revelation Biosciences are developing have the
potential to change the way we prevent, treat and experience
respiratory viruses. The Revelation Bioscience team brings to bear
significant drug development experience and is well suited to
position their industry knowledge to successfully develop their
promising and intriguing pipeline. We look forward to working with
the Revelation Biosciences’ team to identify the right partners to
commercialize RVTx-99 and RVTx-200 for the benefit of patients
globally.”
The Need for Prevention and Treatment of
Respiratory Infections
In 2019, lower respiratory tract infections
(LRTIs), including pneumonia and bronchiolitis, affected 489
million people globally. And, during the 2019-2020 season, the CDC
estimates that influenza was associated with 38 million illnesses,
18 million medical visits, 405,000 hospitalizations, and 22,000
deaths.
The burden of respiratory infections on the
healthcare system and economy is significant, with respiratory
infections leading to more doctor visits and absences from school
and work than any other illness. In addition, recent studies
suggest a troubling increase in deaths from these viruses.
For more information on Revelation, please visit
www.RevBiosciences.com.
About REVTx-99
REVTx-99 is a proprietary intranasal drop formulation in
development for the prevention or treatment of respiratory viral
infection and is broadly applicable to most infectious viruses
including Influenza A, Influenza B, parainfluenza, rhinovirus,
respiratory syncytial virus (RSV), SARS-CoV-2 and its variants. The
active ingredient in REVTx-99 stimulates the nasal (mucosal) innate
immune system via interaction with Toll-like Receptor 4 (TLR4) to
produce protective cytokines including interferons and interferon
related proteins. These protective cytokines work in concert to
blunt the ability of an invading virus to proliferate and survive.
Phase 1 data showed REVTx-99 to be well-tolerated and to
significantly increase intranasal protective cytokines.
In addition, to viral infection, REVTx-99 is also being
developed for preventing and treating chronic nasal congestion due
to allergies. REVTx-99 significantly upregulates the cytokine IP10
which binds to the same receptor (CCR3) as eotaxin, preventing
eotaxin from recruiting eosinophils, thereby reducing recruitment
of Th2 cells, and attenuating the allergic response.
About REVTx-200
REVTx-200 is an intranasal immunomodulator adjunct to be used in
combination with an intramuscular vaccination for more complete
immunity. Vaccines work by eliciting the production of antibodies
via the adaptive immune response. Most vaccines are given
intramuscularly and result in a strong systemic immune response
(IgG antibodies), but weak mucosal (e.g. the nasal passages) immune
response (IgA antibodies). Since most respiratory viruses enter
through the nose, the effectiveness of vaccines may be improved if
they produce both systemic and mucosal immunity. It is believed
that REVTx-200 will stimulate the production of local intranasal
(mucosal) cytokines that will result in the trafficking of
activated systemic immune cells (e.g. T and B cells) into the
mucosal space resulting in more complete immunity.
REVTx-200 is based on the same technology used in REVTx-99. In a
Phase 1 study REVTx-99 stimulated the production of numerous
protective cytokines and chemokines including cytokines and
chemokines that actively recruit the adaptive immune response which
suggests the mechanism described above is plausible.
About Revelation Biosciences Inc.
Revelation Biosciences, Inc. is a clinical stage
life sciences company focused on the development of
immunologic-based therapies for the prevention and treatment of
disease. Revelation has several product candidates in development.
REVTx-99, the lead therapeutic candidate, is an intranasal
immunomodulator to prevent or treat infections caused by various
respiratory viruses such as SARS-CoV-2 including its variants,
influenza A and B, parainfluenza, rhinovirus, and RSV. REVTx-99 is
also being developed for other indications such as: allergic
rhinitis and chronic nasal congestion. REVTx-200 is an intranasal
immunomodulator adjunct to be used in combination with an
intramuscular vaccination for more complete immunity. REVTx-200 is
based on the same technology used in REVTx-99. In addition to
Revelation’s therapeutic pipeline, Revelation is also developing
REVDx-501, a rapid home use diagnostic that can be used to detect
any respiratory viral infection, regardless of virus type or
strain, without the need for specialized instrumentation.
Revelation recently announced that it has
entered into a definitive merger agreement (Merger Agreement) with
Petra Acquisition, Inc. (NASDAQ: PAICU, PAIC, & PAICW), a
special purpose acquisition company, for a business combination
that will result in Revelation becoming a publicly traded company
(Business Combination). The merger is expected to close in Q4 2021.
After the close of the merger the combined company will be listed
on NASDAQ under the ticker symbol “REVB.”
For more information on Revelation, please visit
www.RevBiosciences.com.
About Destum Partners,
Inc.Destum Partners, Inc. (www.destumpartners.com) is an
advisory and consultancy firm specializing in the biopharmaceutical
and life sciences industries. For more than 15 years, Destum
Partners has worked with clients ranging in size from large,
multinational Fortune 500 companies through mid-sized/early-stage
companies globally completing transactions and providing customized
market research and Valuations. Therapeutically agnostic, Destum
Partners has completed over USD $3.5B in deal value.
About Petra Acquisition,
Inc.
Petra Acquisition, Inc. (NASDAQ: PAICU, PAIC,
& PAICW) is a blank check company organized for the purpose of
effecting a merger, share exchange, asset acquisition, stock
purchase, recapitalization, reorganization or other similar
business combination with one or more businesses or entities, with
an initial focus on target businesses in the healthcare or a
healthcare-related industry.
Forward-Looking Statements
This press release contains forward-looking
statements as defined in the Private Securities Litigation Reform
Act of 1995, as amended, including statements regarding the
anticipated benefits of the transaction, the anticipated timing of
the transaction, the future business and financial condition of the
company post-closing and expected financial impacts of the
transaction, the satisfaction of closing conditions to the
transaction, the level of redemptions of Petra’s public
stockholders; the market opportunities for Revelation’s product
candidates; and the potential for regulatory approval for
Revelation’s product candidates. These forward-looking statements
are generally identified by the words "anticipate", "believe",
"expect", "estimate", "plan", "outlook", and "project" and other
similar expressions. Forward-looking statements are statements that
are not historical facts. We caution investors that forward-looking
statements are based on management’s expectations and are subject
to various risks and uncertainties. As a result, caution must be
exercised in relying on forward-looking statements, which speak
only as of the date they were made. The following factors, among
others, could cause actual results to differ materially from those
described in these forward-looking statements: risks relating to
the successful completion of RVL-CLR01 clinical study; the risk
that we may not fully enroll our RVL-CLR01clinical study or
enrollment will take longer than expected; risks relating to the
occurrence of adverse safety events and/or unexpected concerns that
may arise from data or analysis from our RVL-CLR01 clinical study;
the occurrence of any event, change or other circumstances that
could give rise to an amendment or termination of the Merger
Agreement and the proposed transaction contemplated thereby; the
inability to complete the transactions contemplated by the Merger
Agreement due to the failure to obtain approval of the stockholders
of Petra or Revelation or other conditions to closing in the Merger
Agreement; the inability to project with any certainty the amount
of cash proceeds remaining in the Petra trust account at the
closing of the transaction; the uncertainty relative to the cash
made available to Revelation at the closing should any material
redemption requests be made by the Petra stockholders (since the
sources of cash projected in this press release assume that no
redemptions will be requested by Petra stockholders); the inability
of the company post-closing to obtain or maintain the listing of
its securities on Nasdaq following the Business Combination; the
amount of costs related to the Business Combination; Revelation’s
ability to yield sufficient cash proceeds from the transaction to
support its short-term operations and research and development
efforts since the Merger Agreement requires no minimum level of
funding in the trust fund to close the transaction; the outcome of
any legal proceedings that may be instituted against the parties
following the announcement of the Business Combination; changes in
applicable laws or regulations; the ability of Revelation to meet
its post-closing financial and strategic goals, due to, among other
things, competition; the ability of the company post-closing to
grow and manage growth profitability and retain its key employees;
the possibility that the company post-closing may be adversely
affected by other economic, business, and/or competitive factors;
risks relating to the successful development of Revelation’s
product candidates; the clinical utility of an increase in
intranasal IP-10 levels as a biomarker of viral infections; the
ability to complete planned clinical studies of REVTx-99; expected
initiation of the clinical studies, the timing of clinical data;
the outcome of the clinical data, including whether the results of
such study is positive or whether it can be replicated; the outcome
of data collected, including whether the results of such data
and/or correlation can be replicated; the timing, costs, conduct
and outcome of our other clinical studies; the anticipated
treatment of future clinical data by the FDA, the EMA or other
regulatory authorities, including whether such data will be
sufficient for approval; the success of future development
activities for REVTx-99 and expanded indications, REVTx-200,
REVDx-501, or any other product candidates; potential indications
for which product candidates may be developed; the potential impact
that COVID-19 may have on Revelation’s suppliers, vendors,
regulatory agencies, employees and the global economy as a whole;
the expected duration over which Revelation’s balances will fund
its operations; and other risks and uncertainties described herein,
as well as those risks and uncertainties discussed from time to
time in other reports and other public filings with the SEC by
Petra.
No Offer or Solicitation
This press release shall not constitute an offer
to sell or the solicitation of an offer to buy any securities, nor
shall there be any sale of securities in any states or
jurisdictions in which such offer, solicitation, or sale would be
unlawful prior to registration or qualification under the
securities laws of any such jurisdiction. No offering of securities
shall be made except by means of a prospectus meeting the
requirements of Section 10 of the Securities Act, or an exemption
therefrom.
Important Information and Where to Find
It
In connection with the proposed Business
Combination described herein, Petra has filed relevant materials
with the SEC, including a Registration Statement on Form S-4, that
includes a preliminary proxy statement/prospectus, and when
available, will file a definitive proxy statement and final
prospectus. Promptly after filing its definitive proxy statement
with the SEC, Petra will mail the definitive proxy statement and a
proxy card to each stockholder entitled to vote at the Special
Meeting relating to the transaction. INVESTORS AND STOCKHOLDERS OF
PETRA ARE URGED TO READ THESE MATERIALS (INCLUDING ANY AMENDMENTS
OR SUPPLEMENTS THERETO) AND ANY OTHER RELEVANT DOCUMENTS IN
CONNECTION WITH THE TRANSACTION THAT PETRA WILL FILE WITH THE SEC
WHEN THEY BECOME AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT
INFORMATION ABOUT PETRA, REVELATION AND THE BUSINESS COMBINATION.
The definitive proxy statement, the preliminary proxy statement and
other relevant materials in connection with the transaction (when
they become available), and any other documents filed by Petra with
the SEC, may be obtained free of charge at the SEC’s website
(www.sec.gov).
Participants in the
Solicitation
Petra and its directors and executive officers
may be deemed participants in the solicitation of proxies from
Petra’s stockholders with respect to the Business Combination. A
list of the names of those directors and executive officers and a
description of their interests in Petra will be included in the
proxy statement for the proposed Business Combination and be
available at www.sec.gov. Additional information regarding the
interests of such participants will be contained in the proxy
statement for the proposed Business Combination when available.
Information about Petra’s directors and executive officers and
their ownership of Petra common stock is set forth in Petra’s
prospectus, dated October 7, 2020, as modified or supplemented by
any Form 3 or Form 4 filed with the SEC since the date of such
filing. Other information regarding the interests of the
participants in the proxy solicitation will be included in the
proxy statement pertaining to the proposed Business Combination
when it becomes available. These documents can be obtained free of
charge at the SEC’s website (www.sec.gov).
Revelation and its directors and executive
officers may also be deemed to be participants in the solicitation
of proxies from the stockholders of Petra in connection with the
proposed Business Combination. A list of the names of such
directors and executive officers and information regarding their
interests in the proposed Business Combination will be included in
the proxy statement for the proposed Business Combination.
Company Contacts
Sandra VedrickVice President, Investor Relations & Human
ResourcesRevelation Biosciences Inc. Email:
svedrick@revbiosciences.com
and
Chester Zygmont, IIIChief Financial OfficerRevelation
Biosciences Inc. Email: czygmont@revbiosciences.com
Media contact: Kristin Faulder kristin@heurisay.com
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