LEXINGTON, Mass., June 13, 2017 /PRNewswire/ -- Pulmatrix, Inc. (NASDAQ: PULM), a clinical stage
biopharmaceutical company developing innovative inhaled therapies to address serious pulmonary diseases, today announced that it
has entered into an exclusive, worldwide license agreement with RespiVert Ltd., a wholly owned subsidiary of Janssen Biotech,
Inc. Through the agreement, Pulmatrix gains access to a portfolio of novel drug candidates in a class called kinase
inhibitors that the company plans to develop.
Kinase inhibitors are chemical entities that block so-called kinase enzymes, which are involved in inflammation or cancer.
"We believe these innovative compounds licensed from RespiVert Ltd. will offer a new approach for treating lung inflammation
in diseases like chronic obstructive pulmonary disease (COPD), asthma, and idiopathic pulmonary fibrosis (IPF)," said Pulmatrix
CEO Robert Clarke, PhD. "They are
also perfectly suited for formulation with our iSPERSE technology."
Professor Peter J. Barnes, Margaret Turner-Warwick Professor of Medicine and the Head of
Respiratory Medicine at Imperial College, London, stated "Kinase inhibitors could be a very
promising step forward for treating COPD and severe asthma. Coupled with the innovative iSPERSE technology to facilitate
delivery to the site of disease within the lung, Pulmatrix is poised to improve the available therapeutic landscape for these
patients in need."
The key advance in the iSPERSE™
approach is a dry powder that "flies" easily into the lungs and can work with virtually any drug class ranging from small molecules to
biologics. Drugs attached to the particles are thus delivered to the lungs with very high efficiency including small molecules
like the RespiVert kinase inhibitors.
Pulmatrix is already developing inhaled drugs
for COPD and fungal infections. "These new compounds will significantly expand what we believe is already an impressive pipeline
of drug candidates," said Clarke. "Because these compounds have already been explored in a Phase I program, we envision that we
will be able to quickly move to clinical proof-of-concept studies."
Under the terms of the agreement, which covers both respiratory and oncology uses of the drug candidates, Pulmatrix will
assume all development and commercialization activities worldwide.
About Pulmatrix
Pulmatrix is a clinical stage biopharmaceutical company developing innovative inhaled therapies to address serious pulmonary
disease using its patented iSPERSE™
technology. The Company's proprietary product pipeline is focused on advancing treatments for lung diseases, including
opportunities in major pulmonary diseases through collaborations, like PUR0200, a branded generic in clinical development for
chronic obstructive pulmonary disease (COPD) and PUR1900, an inhaled antifungal that could benefit severe asthmatics and patients
with rare diseases like cystic fibrosis. Pulmatrix's product candidates are based on iSPERSE™, its proprietary dry powder
delivery platform, which seeks to improve therapeutic delivery to the lungs by maximizing local concentrations and reducing
systemic side effects to improve patient outcomes.
FORWARD-LOOKING STATEMENTS
Certain statements in this press release that are forward-looking and not statements of historical fact are forward-looking
statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Such
forward-looking statements include, but are not limited to, statements concerning the amount and use of proceeds the Company
expects to receive from the sale of the shares of common stock in the registered direct offering, the closing of the transaction
described in this press release, which is subject to customary conditions, and other statements that are not statements of
historical fact, and may be identified by words such as "anticipates," "assumes," "believes," "can," "could," "estimates,"
"expects," "forecasts," "guides," "intends," "is confident that", "may," "plans," "seeks," "projects," "targets," and "would,"
and their opposites and similar expressions are intended to identify forward-looking statements. The Company cautions that such
statements involve risks and uncertainties that may materially affect the Company's results of operations. Such forward-looking
statements are based on the beliefs of management as well as assumptions made by and information currently available to
management. Actual results could differ materially from those contemplated by the forward-looking statements as a result of
certain factors, including, but not limited to, market and other conditions, the satisfaction of customary closing conditions
related to the registered direct offering of common stock, the ability to establish that potential products are efficacious or
safe in preclinical or clinical trials; the ability to establish or maintain collaborations on the development of therapeutic
candidates; the ability to obtain appropriate or necessary governmental approvals to market potential products; the ability to
obtain future funding for developmental products and working capital and to obtain such funding on commercially reasonable terms;
the Company's ability to manufacture product candidates on a commercial scale or in collaborations with third parties; changes in
the size and nature of competitors; the ability to retain key executives and scientists; and the ability to secure and enforce
legal rights related to the Company's products, including patent protection. A discussion of these and other factors, including
risks and uncertainties with respect to the Company, is set forth in the Company's filings with the Securities and Exchange
Commission, including its annual report on Form 10-K filed with the Securities and Exchange Commission on March 10, 2017, as may be supplemented or amended by the Company's Quarterly Reports on Form 10-Q. The Company
disclaims any intention or obligation to revise any forward-looking statements, whether as a result of new information, future
events or otherwise, except as required by law.
Investor
Contact
Robert Clarke,
CEO
(781)
357-2333
rclarke@pulmatrix.com
William Duke, CFO
(781) 357-2333
wduke@pulmatrix.com
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SOURCE Pulmatrix, Inc.