-- CARB-X funding highlights Achaogen's innovative LpxC program and urgent need for gram-negative antibiotics --
-- Awarded $3.2 million over 12 months, and potentially up to a total award of $11.4 million --
SOUTH SAN FRANCISCO, Calif., July 25, 2017 (GLOBE NEWSWIRE) -- Achaogen, Inc. (NASDAQ:AKAO), a late-stage biopharmaceutical company developing novel antibacterials addressing multi-drug resistant (MDR) gram-negative infections, today announced a collaboration with CARB-X (Combating Antibiotic Resistant Bacteria Biopharmaceutical Accelerator), a global public-private partnership focused on funding the development of promising new antibiotics and rapid diagnostics.
CARB-X selected Achaogen from a group of 368 companies and research groups worldwide to be a recipient of the award to support the development of its new class of antibiotic designed to inhibit LpxC. Achaogen was awarded $3.2 million over 12 months, and potentially up to a total award of $11.4 million after that period upon achievement of certain milestones.
"We are honored to have CARB-X's support in helping to advance our lead LpxC inhibitor through initial Phase 1 clinical trials, and we are hopeful that our approach to disrupting the bacterial outer membrane may yield a new way to protect patients from bacterial infections," said Kenneth Hillan, M.B. Ch.B., Achaogen's Chief Executive Officer. "LpxC is an essential enzyme in most gram-negative bacteria for the biogenesis of the bacterial outer membrane, which is a significant barrier that protects these pathogens from the extracellular milieu."
Kevin Outterson, Executive Director of CARB-X and Professor of Law at Boston University said, "Drug-resistant infections are complex and developing new antibiotics challenging, timely and costly. But restoring the R&D pipeline is vital to address the seriously increasing threat of superbugs which have become resistant to existing drugs. This is a global problem and CARB-X is a critical part of the global solution. We are looking to support the best potential new treatments and diagnostics across the world. We are especially pleased that today's awards mean we are now supporting scientists in six countries. The projects offer exciting potential. But we need greater global support from governments, industry and civil society to get the new treatments the world urgently needs."
About LpxC Inhibitors - A New Class of Antibiotics
LpxC is an essential enzyme unique to gram-negative bacteria. Inhibition of LpxC can disrupt the structural integrity of the bacterial outer membrane, leading to rapid bacterial cell lysis. Owing to its critical role in maintaining the barrier function of the outer membrane, LpxC is essential in nearly all Gram-negative bacteria studied to date. Achaogen's lead LpxC inhibitor has shown potent activity against Pseudomonas aeruginosa and is being developed to potentially treat infections due to this multidrug-resistant pathogen. Pseudomonas aeruginosa is on the World Health Organization's top priority list of drug-resistant bacteria. Learn more about LpxC inhibitors.
Combating Antibiotic Resistant Bacteria Biopharmaceutical Accelerator (CARB-X) is the world's largest public-private partnership devoted to early stage antibacterial R&D. Funded by BARDA and Wellcome Trust, with in-kind support from the National Institute of Allergy and Infectious Diseases (NIAID), CARB-X will spend up to $455 million from 2017 to 2021 to support innovative products from ‘hit-to-lead' stage through to Phase 1 clinical trials. CARB-X focuses on high priority drug-resistant bacteria, especially Gram-negatives. CARB-X is a charitable global public-private partnership led by Boston University. Other partners include the Broad Institute of Harvard and MIT, MassBio, the California Life Sciences Institute and RTI International. For more information, please visit www.carb-x.org.
Achaogen is a late-stage biopharmaceutical company passionately committed to the discovery, development, and commercialization of innovative antibacterial treatments for MDR gram-negative infections. Achaogen is developing plazomicin, Achaogen's lead product candidate, for the treatment of serious bacterial infections due to MDR Enterobacteriaceae, including carbapenem-resistant Enterobacteriaceae. Achaogen's plazomicin program is funded in part with a contract from the Biomedical Advanced Research and Development Authority. Plazomicin is the first clinical candidate from Achaogen's gram-negative antibiotic discovery engine. Achaogen has other programs in early and late preclinical stages focused on other MDR gram-negative infections, including LpxC inhibitors for the treatment of serious bacterial infections including MDR gram-negative bacteria. Achaogen's LpxC inhibitor program has been funded in part with Federal funds from the National Institute of Allergy and Infectious Diseases (NIAID), National Institutes of Health, Department of Health and Human Services, under Contract No. HHSN272201500009C. The LpxC inhibitor program will be funded in part with funds from Combating Antibiotic Resistant Bacteria Biopharmaceutical Accelerator (CARB-X). All product candidates are investigational only and have not been approved for commercialization. For more information, please visit www.achaogen.com.
This press release contains forward-looking statements. All statements other than statements of historical facts contained herein are forward-looking statements reflecting the current beliefs and expectations of management made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, including, but not limited to, Achaogen's expectations regarding potential regulatory approval of plazomicin, Achaogen's commercial objectives and Achaogen's pipeline of product candidates. Such forward-looking statements involve known and unknown risks, uncertainties and other important factors that may cause Achaogen's actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Such risks and uncertainties include, among others, the uncertainties inherent in the preclinical and clinical development process; the risks and uncertainties of the regulatory approval process; the risks and uncertainties of commercialization and gaining market acceptance; the risk when bacteria will evolve resistance to plazomicin; Achaogen's reliance on third-party contract manufacturing organizations to manufacture and supply its product candidates and certain raw materials used in the production thereof; risks and uncertainties related to the acceptance of government funding for certain of Achaogen's programs, including the risk that NIAID or CARB-X could terminate Achaogen's contract for the funding of the LpxC inhibitor development program; risk of third party claims alleging infringement of patents and proprietary rights or seeking to invalidate Achaogen's patents or proprietary rights; and the risk that Achaogen's proprietary rights may be insufficient to protect its technologies and product candidates. For a further description of the risks and uncertainties that could cause actual results to differ from those expressed in these forward- looking statements, as well as risks relating to Achaogen's business in general, see Achaogen's current and future reports filed with the Securities and Exchange Commission, including its Annual Report on Form 10-K for the fiscal year ended December 31, 2016, filed on March 14, 2017 and its Quarterly Reports on Form 10-Q, including the report for the fiscal quarter ended March 31, 2017, filed on May 8, 2017. Achaogen does not plan to publicly update or revise any forward-looking statements contained in this press release, whether as a result of any new information, future events, changed circumstances or otherwise.
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