Faron Receives FDA Orphan Drug Designation for Bexmarilimab in Acute Myeloid Leukemia
- ODD further strengthens bexmarilimab program by offering clinical development and commercialization benefits
- Expected completion of dose escalation, readout of enrichment cohorts, and Phase II initiation in Q4 2023
TURKU, Finland and BOSTON, Aug. 29, 2023 (GLOBE NEWSWIRE) -- Faron Pharmaceuticals Ltd. (AIM: FARN, First North: FARON), a clinical-stage biopharmaceutical company focused on tackling cancers via novel immunotherapies, today announces the U.S. Food and Drug Administration (FDA) has granted Orphan Drug Designation (ODD) to its wholly owned asset bexmarilimab, for the treatment of acute myeloid leukemia (AML).
FDA’s Office of Orphan Drug Products grants orphan status to support the development of medicines for rare disorders that affect fewer than 200,000 people in the U.S. ODD provides Faron with certain benefits, such as market exclusivity upon regulatory approval if received, exemption of FDA application fees, and tax credits for qualified clinical trials.
“Receiving Orphan Drug Designation from the FDA signifies our continued progress and commitment to develop bexmarilimab as a potential treatment for AML,” said Chief Medical Officer Dr. Marie-Louise Fjällskog. “The designation represents a milestone in our development journey, one that we believe when combined with standard of care, will lead to better patient outcomes and improved quality of life.”
Bexmarilimab is currently in Phase I/II BEXMAB study (ClinicalTrials.gov: NCT05428969) in combination with standard of care (SoC) for the treatment of aggressive hematological malignancies of relapsed/refractory AML and myelodysplastic syndromes (MDS). Last month, Faron reported updated, positive data from the Phase I portion of the trial. Three of five patients in the 6 mg/kg bexmarilimab + azacitidine doublet cohort achieved objective responses and eight (out of 15 patients) objective responses were observed in all three doublet dosing cohorts, with one patient remaining on treatment for 13 months.
The completion of dose escalation, readout of enrichment cohorts and initiation of the Phase II portion of the BEXMAB trial are expected in Q4 2023.
This announcement contains inside information for the purposes of Article 7 of Regulation (EU) No 596/2014 ("MAR").
For more information please contact:
Investor Contact
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Daniel Ferry
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Faron Pharmaceuticals
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Cairn Financial Advisers LLP, Nomad
Sandy Jamieson, Jo Turner
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Peel Hunt LLP, Broker
Christopher Golden, James Steel
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Juha Karttunen
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Jukka Järvelä
Phone: +358 (0)50 553 8990
About Bexmarilimab
Bexmarilimab is Faron's wholly owned, investigational immunotherapy designed to overcome resistance to existing treatments and optimize clinical outcomes, by targeting myeloid cell function and igniting the immune system. Bexmarilimab binds to Clever-1, an immunosuppressive receptor found on macrophages leading to tumor growth and metastases (i.e. helps cancer evade the immune system). By targeting the Clever-1 receptor on macrophages, bexmarilimab alters the tumor microenvironment, reprogramming macrophages from an immunosuppressive (M2) state to an immunostimulatory (M1) one, upregulating interferon production and priming the immune system to attack tumors and sensitizing cancer cells to standard of care.
About BEXMAB
The BEXMAB study is a first-in-human, open-label Phase I/II clinical trial investigating bexmarilimab in combination with standard of care (SoC) in the aggressive hematological malignancies of acute myeloid leukemia (AML) and myelodysplastic syndrome (MDS). The primary objective is to determine the safety and tolerability of bexmarilimab in combination with SoC (azacitidine) treatment and to identify the recommended Phase II dose. Directly targeting Clever-1 could limit the replication capacity of cancer cells, increase antigen presentation, ignite an immune response, and allow current treatments to be more effective. Clever-1 is highly expressed in both AML and MDS and associated with therapy resistance, limited T cell activation and poor outcomes.
About Faron Pharmaceuticals Ltd.
Faron (AIM: FARN, First North: FARON) is a global, clinical-stage biopharmaceutical company, focused on tackling cancers via novel immunotherapies. Its mission is to bring the promise of immunotherapy to a broader population by uncovering novel ways to control and harness the power of the immune system. The Company’s lead asset is bexmarilimab, a novel anti-Clever-1 humanized antibody, with the potential to remove immunosuppression of cancers through targeting myeloid cell function. Bexmarilimab is being investigated in Phase I/II clinical trials as a potential therapy for patients with hematological cancers in combination with other standard treatments. Further information is available at www.faron.com.
Forward-Looking Statements
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