Catabasis Pharmaceuticals Announces New Company Name, Astria Therapeutics, Highlighting New Company Direction
BOSTON–(COMMERCIAL THREAD) – Catabasis Pharmaceuticals, Inc. (NASDAQ: CATB), a biopharmaceutical company developing STAR-0215 ââfor the treatment of hereditary angioedema (HAE), today announced its new name, Astria Therapeutics, Inc. . (âAstriaâ or the âCompanyâ). The name Astria derives from the Greek word for star, reflecting the company’s commitment to ensuring that patients serve as guiding stars. Astria’s mission is to bring hope with life-changing therapies for patients and families. Astria plans to begin trading under the new ticker symbol âATXSâ on the Nasdaq Global Select market when the market opens on September 9, 2021, and the new website, www.astriatx.com, launched today containing information on STAR-0215, HAE, and a new corporate presentation.
âThe Astria name embodies our commitment to putting patients first in everything we do,â said Jill C. Milne, Ph.D., CEO of Astria Therapeutics. âFollowing the acquisition of Quellis earlier this year, our company is focused on combating hereditary angioedema, a debilitating disease, with the broader goal of meeting the unmet needs of patients with allergic diseases and rare and niche immunologicals. We are advancing STAR-0215 ââas the most patient-friendly and differentiated preventive treatment option with dosing once every three months or more. We are proud to launch Astria Therapeutics and bring the combination of experience, passion and compassion of our team to our future vision and our commitment to patients and their families.
Astria’s main program, STAR-0215 ââ(formerly QLS-215), was named to reflect the goal of having patients at the forefront of Astria’s scientific development. STAR-0215 ââis currently in preclinical development for the treatment of HAE, a rare genetic disorder characterized by severe, recurrent, unpredictable, painful and sometimes fatal swelling of the face, limbs, abdomen and airways. . Astria is developing STAR-0215 ââto be a long-lasting plasma kallikrein inhibitory monoclonal antibody, administered once every 3 months or more, with the goal of providing the most user-friendly preventive treatment option for people living with it. HAE. The company plans to file an Investigational New Drug Application (IND) for STAR-0215 ââin mid-2022 and plans to launch a Phase 1 clinical trial with the first proof of concept results expected by the end of this year. the year 2022.
Astria is led by an experienced management team and board of directors. The management team consisted of individuals with deep expertise in drug discovery, development and commercialization in rare disease and niche areas. The team, led by Jill C. Milne, Ph.D., includes Noah Clauser, CFO, Ben Harshbarger, General Counsel, Andrew A. Komjathy, Commercial Director, Andrea Matthews, Senior Vice President, Corporate Affairs, Keri McGrail, Senior Vice President, Human Resources, and Andrew Nichols, Ph.D., Scientific Director. Astria’s experienced Board of Directors is comprised of Kenneth Bate, Chairman, Joanne T. Beck, PhD, Fred Callori, Hugh M. Cole, Michael D. Kishbauch, Gregg Lapointe, Jill C. Milne and Jonathan Violin, doctorate
Earlier this year, the company acquired Quellis Biosciences (âQuellisâ) and leads the STAR-0215 ââprogram. In conjunction with the acquisition, the Company raised approximately $ 110 million, before deduction of placement agent fees and other offering fees, in a private placement with a group of investors. accredited institutions led by Perceptive Advisors, with the participation of Fairmount Funds Management LLC, RA Capital Management, Cormorant Asset Management, Venrock Healthcare Capital Partners, Logos Capital, Boxer Capital, Acorn Bioventures, Commodore Capital, Surveyor Capital (a Citadel company), Acuta Capital Partners, Sphera Healthcare and Serrado Capital LLC. As of June 30, 2021, Astria had $ 139.5 million in cash and cash equivalents. Astria expects to have sufficient liquidity to fund its current operating plan through 2023. ATXS common shares will trade under the new CUSIP number 04635X102.
About Astria Therapeutics:
Astria Therapeutics is a biopharmaceutical company, and our mission is to bring life-changing therapies to patients and families affected by rare and niche allergic and immunological diseases. Our main program, STAR-0215, is a plasma kallikrein inhibitor monoclonal antibody in preclinical development for the treatment of hereditary angioedema. Learn more about our company on our website, www.astriatx.com, or follow us on Twitter and Instagram @AstriaTx and on Facebook and LinkedIn.
This press release contains forward-looking statements within the meaning of applicable securities laws and regulations, including, but not limited to, statements regarding: the Company’s projected cash flow path; expectations regarding when to submit an IND and when a Phase 1 clinical trial for STAR-0215 ââbegins, when, and what kind of initial trial results; the potential attributes and differentiated profile of STAR-0215 ââas a treatment for HAE; the need for effective treatments for HAE; and the Company’s broader goal of meeting the unmet needs of patients with rare and niche allergic and immunological diseases. The use of words such as, but not limited to, “anticipate”, “believe”, “continue”, “could”, “could”, “,” plan “,” potential “,” predict “,” project “,” should “,” target “,” “or” ” “Forward-looking statements are neither historical facts nor assurances of future performance. Instead, they are based on current beliefs, expectations and assumptions of the Company regarding the future of its business, future plans and strategies, future financial performance, pre-clinical and clinical results of the Company’s product candidates and other future conditions. Actual results may differ materially from those indicated by these forward-looking statements due to various important factors, including risks and uncertainties: relating to the ability of the a Company to recognize the benefits expected from the acquisition of Quellis; changes in applicable laws or regulations; the possibility that the Company will be adversely affected by other economic, business and / or competitive factors, including the COVID-19 pandemic; risks inherent in pharmaceutical research and development, such as: adverse results from our drug discovery, preclinical and clinical development activities, the risk that the results of preclinical studies may not be replicated in clinical studies, of the Company to recruit patients into our clinical trials, and the risk that one of the Company’s clinical trials may not start, continue or end on time, if at all; decisions made by the US FDA and other regulatory authorities, investigative review boards at clinical trial sites and other review bodies regarding STAR-0215 ââand any future product candidate, or comments received from them; the Company’s ability to manufacture sufficient quantities of drug substance and drug product in a cost effective and timely manner; the Company’s ability to obtain, maintain and enforce intellectual property rights for STAR-0215 ââand any other future product candidates; competetion; the Company’s ability to manage its use of cash and the possibility of unforeseen cash expenses; the Company’s ability to obtain the necessary financing to carry out its planned activities and manage unforeseen cash flow requirements; general economic and market conditions; as well as the risks and uncertainties set out under the heading âRisk Factorsâ in the Company’s most recent annual report on Form 10-K filed with the SEC, as well as discussions of potential risks, uncertainties and risks. other important factors in subsequent filing with the SEC. New risks and uncertainties may emerge from time to time, and it is not possible to predict all risks and uncertainties. The Company may not actually achieve the forecasts or expectations disclosed in our forward-looking statements, and investors and potential investors should not place undue reliance on the forward-looking statements of the Company. Neither the Company, nor its affiliates, advisers or representatives, undertake to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise, unless the law requires it. These forward-looking statements should not be taken as representing the views of the Company as of a date subsequent to the date hereof.