OncoArendi Therapeutics Gets Listed
OncoArendi Therapeutics S.A., an innovative, clinical stage, biopharmaceutical company dedicated to discovering, developing and commercializing novel therapeutics for cancer and respiratory diseases, has filed documents with the Financial Supervision Authority, initiating the process aiming for the initial public offering (IPO) of its shares on the Warsaw Stock Exchange’s regulated (parallel) market.
‘We have decided to issue shares in an initial public offering and have them listed on the Warsaw Stock exchange in order to raise funds needed for the execution of our ongoing research and development projects and for launching new drug discovery projects. Our strategic aim is to advance our projects to the commercialization stage sufficient for entering into a partnership agreement or for licensing the technologies and associated intellectual property to global pharmaceutical companies. I hope that we will be ready for the IPO in the first half of next year, but the final decision if and when the IPO takes place depends, among other things, on the condition of the capital market,’ says Marcin Szumowski, CEO, president of the Board and significant shareholder of OncoArendi Therapeutics S.A.
OncoArendi is discovering and developing small molecule drugs in two therapeutic areas. The first one is inflammation-induced diseases that lead to tissue remodelling and fibrosis, in particular in lungs and the respiratory system. OncoArendi has selected its first and most advanced clinical candidate, OATD-01, which has shown both anti-inflammatory and anti-fibrotic effects in animal models of respiratory diseases, with potential utility in treatment of asthma, idiopathic pulmonary fibrosis or sarcoidosis. After OATD-01 has successfully completed preclinical development, last September OncoArendi received the approval from the German Federal Institute for Drugs and Medical Devices (BfArM) to initiate clinical trials. On October 11, the first group of healthy volunteers was administered OATD-01 as part of the first-in-human clinical trial conducted at a German contract research organization specializing in early stage clinical trials.
‘The first administration of OATD-01 in healthy volunteers is a major milestone in the development of a completely new class of medicines. We believe that inhibitors of the chitinase family of proteins have huge potential to become new medicines for the treatment of chronic respiratory diseases. The first administration of OATD-01 in human is also a big milestone in the development of OncoArendi Therapeutics, which is the third company in the history of the Polish biopharmaceutical sector to have initiated clinical development of an innovative drug.’ says Stanisław Pikul, a co-founder and VP of Development.
Another therapeutic area pursued by OncoArendi is oncology. The Company is working on the development of a new cancer immunotherapy, which is a new therapeutic approach with the greatest market potential. OncoArendi’s most advanced molecule is OATD-02, derived from over 200 new arginase inhibitors, which is expected to improve efficacy when used in combination with other therapies for the treatment of patients with colon, lung, skin or even brain cancer. OATD-02, OncoArendi’s second clinical candidate, was selected in June 2017, and is now in pre-clinical development phase.
‘OATD-02 is an inhibitor of arginase enzymes, which block natural ability of the human immune system to fight cancer cells. The efficacy of OATD-02 in animal models of cancer is very promising, as we have demonstrated an increased therapeutic effect of the compound in combination with other medications that are already marketed. We are on track to start clinical trials in patients in early 2019.’ says Karolina Dzwonek, OncoArendi Therapeutics VP of Biology.
OncoArendi is also working on several other molecules. The third most advanced program involves selective inhibitors of CHIT1 protein, which could be used for treatment of rare respiratory diseases such as idiopathic pulmonary fibrosis or sarcoidosis. Another program discovering compounds inhibiting YKL-40 chitinase-like-protein has been launched in 2017. These inhibitors have significant potential in the treatment of various types of cancer, in particular glioblastoma multiforme.
For the advancement of the ongoing research projects, OncoArendi has raised funds from private investors and from numerous competitive grants, co-financed from the national funds, the EU funds, the Horizon 2020 programme and the US National Institute of Health (NIH). The investors, who have believed in OncoArendi’s potential and its ability to develop and commercialize new medicines for respiratory and cancer diseases, include Michał Sołowow.
About OncoArendi Therapeutics:
OncoArendi Therapeutics S.A. is an innovative biotechnology company focused on discovering, developing and commercializing new drugs used in the treatment of cancer and respiratory diseases. OncoArendi’s research and development department currently employs nearly 60 researchers, more than half of whom hold a PhD degree.
OncoArendi Therapeutics is focused on discovering and developing molecules with potential to become first-in-class or best-in-class drugs worldwide to treat unmet medical needs. Concentration on first-in-class or best-in-class molecules significantly increases their value and market potential and enhances the probability of achieving a status of a leading therapy compared to competitive solutions.
OncoArendi’s business model is strictly focused on drug discovery and development, with its core strength in high quality medicinal chemistry and preclinical biology, enhanced by scientific collaborations with the key opinion leaders in specific disease areas and prudent use of CROs.
More details: https://oncoarendi.com/pl/o-firmie/
More details are available from:
Michał Wierzchowski, cc group
phone +48 531 613 067
This material is intended for promotional purposes only, and should in not be used for decisions on investment and purchase of shares issued by OncoArendi Therapeutics S.A. (‘the Company’). The Prospectus, prepared for offering the Company’s securities to the public in Poland as well as having them admitted to trading on the Warsaw Stock Exchange’s (WSE’s) regulated market, will be the only legally binding document to contain information about the Company and its initial public offering of securities in Poland (‘Offer’). The Company will be able to conduct the Offer in Poland once the Prospectus has been approved by the Financial Supervision Authority and published. Published in connection with the Offer in Poland and the Company’s securities being admitted to trading on the Warsaw Stock Exchange, the Prospectus will be available from the Company’s website (http://www.oncoarendi.com/pl/) and that of the Offering Party, Trigon Dom Maklerski S.A. (http://www.trigon.pl/).
Dissemination of this document may be prohibited in some countries. It is forbidden to distribute this document in Canada, Japan and Australia. The information contained in the attached document does not constitute a sales offer or an invitation to bids for the purchase of the securities in Canada, Japan or Australia.