Cystic Fibrosis Foundation invests in Armata Pharmaceuticals
The funds will be used to advance the development of lead applicant AP-PA02, which is being assessed in a phase 1b/ 2a clinical trial in respiratory infections caused by Pseudomonas aeruginosa in patients with cystic fibrosis
Innoviva, a major shareholder of Armata, has also chosen to participate
MARINA DEL REY, California, 28 October 2021 / PRNewswire / – Armata Pharmaceuticals, Inc. (NYSE American: ARMP) (“Armata”, “we”, “our” or the “Company”), a biotechnology company focused on pathogen-specific bacteriophage therapeutic agents for antibiotic resistance and difficult-to-treat bacterial infections, today announced that the company has received a capital investment from the Cystic Fibrosis Foundation (“CF Foundation”) with the participation of Innoviva Strategic Opportunities LLC, a subsidiary in wholly owned by Innoviva, Inc. (collectively, “Innoviva”).
In accordance with the terms of the investment agreement, the CF Foundation has chosen to make a $ 3.0 million acquisition of a stake in the ordinary shares of Armata. Innoviva, a major shareholder of Armata, has also chosen to invest $ 4.0 million under the same conditions. Armata intends to register the shares to be issued in this financing within 120 days.
Armata is currently evaluating its lead clinical candidate, AP-PA02, in a phase 1b/ 2a clinical trial (SWARM-Pennsylvania) for chronicle Pseudomonas aeruginosa respiratory infections in people with cystic fibrosis (“CF”). This investment follows a $ 5.0 million Therapeutic Development Award from the CF Foundation in march 2020.
“Pathogens that are difficult to treat such as Pseudomonas aeruginosa represent a significant source of morbidity and mortality in people with cystic fibrosis, highlighting the urgent need for more effective therapeutic alternatives, ”said Mina Pastagia, MD, MS, vice president of clinical development at Armata. “AP-PA02 is a multi-phage cocktail directed against Pseudomonas aeruginosa which provides increased potency and helps prevent the development of bacterial resistance. We look forward to the results of SWARM-Pennsylvania study as we work to bring new treatment options to market quickly and effectively. “
“We are delighted with this investment from the CF Foundation as we strive to develop innovative new therapies for difficult-to-treat bacterial infections in cystic fibrosis,” said Dr. Brian Varnum, CEO of Armata. “We couldn’t ask for a better supporter of our research than the CF Foundation, and we look forward to continuing this mutually beneficial relationship.”
About Armata Pharmaceuticals, Inc.
Armata is a clinical-stage biotechnology company focused on the development of precisely targeted bacteriophage therapies for the treatment of difficult-to-treat, antibiotic-resistant bacterial infections using its proprietary bacteriophage-based technology. Armata develops and advances a broad portfolio of natural and synthetic phage candidates, including clinical candidates for Pseudomonas aeruginosa, Staphylococcus aureus, and other pathogens. Additionally, in conjunction with Merck, known as MSD outside of United States and Canada, Armata is developing proprietary synthetic phage candidates to target an undisclosed infectious agent. Armata is committed to advancing its bacteriophage-based technology with drug development expertise that spans the lab to the clinic, including in-house manufacturing of phage-specific BPF.
This communication contains “forward-looking” statements, including, without limitation, statements relating to Armata’s bacteriophage development programs, Armata’s ability to meet expected milestones, Armata’s ability to be a leader in the development of phage-based therapeutics and reports related to the timing and results of clinical trials, including the expected clinical trial results of AP-PA02 and AP-SA02, and the ability to ‘Armata to develop new products based on bacteriophages and synthetic phages. All statements contained in this communication that are not statements of historical fact can be considered as forward-looking statements. These forward-looking statements are based on Armata’s current expectations. Forward-looking statements involve risks and uncertainties. The actual results of Armata and the schedule of events could differ materially from those anticipated in these forward-looking statements due to these risks and uncertainties, which include, but are not limited to, risks relating to the capacity of the principal clinical candidates of Armata, AP-PA02 and AP-SA02, to be more efficient than the previous candidates; Armata’s ability to accelerate the development of AP-PA02; Armata’s ability to advance its preclinical and clinical programs and the uncertain and lengthy regulatory approval process; Armata’s ability to develop products based on bacteriophages and synthetic phages to kill bacterial pathogens; the expected market opportunity of the Company for its products; Armata’s ability to sufficiently fund its operations as planned, including securing additional funding as needed; and any delay or adverse event under or beyond Armata’s control, caused by the ongoing COVID-19 outbreak. Additional risks and uncertainties regarding Armata and its business can be found under “Risk Factors” and elsewhere in Armata’s documents and reports to the SEC, including in Armata’s annual report on Form 10- K, filed with the SEC on March 18, 2021, and in its subsequent filings with the SEC.
Armata expressly disclaims any obligation or commitment to publicly post any update or revision to any forward-looking statement contained herein to reflect any change in Armata’s expectations in this regard or any change in the events, conditions or circumstances upon which these statements are based.
Armata Pharmaceuticals, Inc.
Armata Investor Relations:
LifeSci Advisors, LLC
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SOURCE Armata Pharmaceuticals, Inc.