Conduit Pharmaceuticals Announces Opening of Prime Laboratory Space in Europe’s Leading Life Sciences Hub
March 11 2024 - 7:00AM
Conduit Pharmaceuticals Inc. (Nasdaq: CDT) ("Conduit
Pharmaceuticals" or "Conduit") today announced the opening of
cutting-edge laboratory space in Cambridge, United Kingdom, a
global centre for research and development for companies at the
forefront of life science innovation. This strategic acquisition
marks a pivotal milestone for Conduit, positioning the Company for
portfolio expansion, enhanced development capabilities, and growth
of a robust intellectual property portfolio.
The laboratory space in Cambridge sits within 150 acres and two
million square feet of high technology and laboratory buildings,
housing nearly 7,000 people at over 130 companies that range from
exciting start-ups to some of the world's leading technology and
life science businesses.
At Conduit’s new laboratory, the scientific team will focus on
strengthening and extending the Company’s intellectual property
portfolio using solid form technology to maximise out-licensing
value. The new centre of excellence will function as the nucleus of
the Company's workstream management platform, a system integrating
the expertise of Conduit’s management and scientific teams with
complimentary algorithmic and artificial intelligence tools. The
Company believes this will streamline operations including asset
selection and monitoring key deliverables within its clinical
trials.
“Our new laboratory serves as a dynamic base for Conduit's
breakthrough endeavours, providing an optimal environment to
progress and expand upon our existing asset portfolio while also
facilitating a generation of new intellectual property,” said Dr.
David Tapolczay, Chief Executive Officer of Conduit. “This
initiative reaffirms our commitment to leading the charge in
pharmaceutical innovation, collaborating closely with the
celebrated scientific community in Cambridge, a prominent global
life sciences hub that consistently pushes the boundaries of what
is possible and develops life-changing advancements for
patients.”
About Conduit Pharmaceuticals
Conduit is a disease-agnostic life science company delivering an
efficient model for compound development. Conduit both acquires and
funds the development of Phase II-ready assets and then seeks an
exit through third-party license deals following successful
clinical trials. Led by a highly experienced team of pharmaceutical
executives, including Dr. David Tapolczay and Dr. Freda Lewis-Hall,
this novel approach is a departure from the traditional
pharma/biotech business model of taking assets through regulatory
approval.
Forward-Looking Statements
This press release contains certain forward-looking statements
within the meaning of the federal securities laws. All statements
other than statements of historical facts contained in this press
release, including statements regarding Conduit's future results of
operations and financial position, Conduit's business strategy,
prospective product candidates, product approvals, research and
development costs, timing and likelihood of success, plans and
objectives of management for future operations, future results of
current and anticipated studies and business endeavours with third
parties, and future results of current and anticipated product
candidates, are forward-looking statements. These forward-looking
statements generally are identified by the words "believe,"
"project," "expect," "anticipate," "estimate," "intend,"
"strategy," "future," "opportunity," "plan," "may," "should,"
"will," "would," "will be," "will continue," "will likely result,"
and similar expressions. These forward-looking statements are
subject to a number of risks, uncertainties and assumptions,
including, but not limited to; the inability to maintain the
listing of Conduit's securities on Nasdaq; the ability to recognize
the anticipated benefits of the business combination completed in
September 2023, which may be affected by, among other things,
competition; the ability of the combined company to grow and manage
growth economically and hire and retain key employees; the risks
that Conduit's product candidates in development fail clinical
trials or are not approved by the U.S. Food and Drug Administration
or other applicable authorities on a timely basis or at all;
changes in applicable laws or regulations; the possibility that
Conduit may be adversely affected by other economic, business,
and/or competitive factors; and other risks and uncertainties to be
identified in the proxy statement/prospectus (as amended and
supplemented) relating to the business combination completed in
September 2023, including those under "Risk Factors" therein, and
in other filings made by Conduit with the U.S. Securities and
Exchange Commission. Moreover, Conduit operates in a very
competitive and rapidly changing environment. Because
forward-looking statements are inherently subject to risks and
uncertainties, some of which cannot be predicted or quantified and
some of which are beyond Conduit's control, you should not rely on
these forward-looking statements as predictions of future events.
Forward-looking statements speak only as of the date they are made.
Readers are cautioned not to put undue reliance on forward-looking
statements, and except as required by law, Conduit assumes no
obligation and does not intend to update or revise these
forward-looking statements, whether as a result of new information,
future events, or otherwise. Conduit gives no assurance that it
will achieve its expectations.
Media:Sean LeousICR
WestwickeSean.Leous@westwicke.com +1.646.866.4012
Investors:Bill BegienConduit Pharmaceuticals
Inc.bb@conduitpharma.com
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