Enlivex Selected by the Israel Innovation Authority to Receive $1.5 Million Grant to Fund COVID-19 and Sepsis Clinical Trials...
April 13 2020 - 8:25AM
Enlivex Therapeutics Ltd. (Nasdaq: ENLV), a clinical-stage
immunotherapy company, today announced that the Israel Innovation
Authority (IIA) selected the Company’s planned COVID-19 and sepsis
clinical programs to receive, in the aggregate, a non-dilutive
grant of approximately $1.5 million for the period through the
first quarter of 2021. To date, Enlivex has received a total
of approximately $4.31 million in grants from the IIA for its
historical clinical trials and development.
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
through royalties from future sales of products developed with the
support of the IIA, and the repayment, if any, is limited to the
original grant amount plus interest.
Following the positive results of Enlivex’s Phase Ib clinical
trial in severe sepsis patients, Enlivex currently plans to
initiate this year a Phase IIb/III trial of AllocetraTM for
the treatment of organ dysfunction associated with sepsis, and,
subject to regulatory approvals, initiate a clinical trial of
AllocetraTM in COVID-19 patients.
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”, “could,” “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. All such
forward-looking statements 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, including in the Company’s most recent Annual Report on
Form 20-F filed 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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