Purple Biotech Ltd
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Health Care : Pharmaceuticals | Small Cap Value
Based in Israel
Company profile

Purple Biotech Ltd, formerly Kitov Pharma Ltd, is an Israel-based clinical-stage company that develops drugs that overcome tumor-immune evasion and drug resistancetreat pain. Main products of the Company is NT-219 i CM-24. CM-24 is a monoclonal antibody blockin and NT-219 is a small molecule bi-specific inhibitor of two key cancer resistance pathways. The Company is also the owner of Consensi, a fixed-dose combination of celecoxib and amlodipine besylate, for the simultaneous treatment of osteoarthritis pain and hypertension.

This security is an American depositary receipt
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Corvus Pharmaceuticals Appoints Dr. James Rosenbaum Senior Vice President of Research

4:05 pm ET July 21, 2022 (Globe Newswire) Print

EQNX::TICKER_START (NasdaqGM:CRVS), EQNX::TICKER_END Corvus Pharmaceuticals, Inc. (Corvus or the Company) (Nasdaq: CRVS), a clinical-stage biopharmaceutical company, today announced the appointment of James Rosenbaum, M.D. as Senior Vice President of Research, effective immediately. His initial focus will be to lead the development of CPI-818, the Company's ITK inhibitor, for the treatment of immune disorders such as T cell lymphomas, autoimmune and allergic diseases.

CPI-818 is currently being studied in a Phase 1/1b clinical trial for the treatment of T cell lymphomas, the results of which we believe could support advancing CPI-818 into a global Phase 2 trial. In addition, recent research has demonstrated the role of ITK in regulating T cell differentiation and supports its potential role in immune mediated diseases. CPI-818 is a novel compound that Corvus founders invented and developed based on their prior experience and success with the first BTK inhibitor, ibrutinib.

"We are excited about the potential of our ITK inhibitor, CPI-818, in both oncology and immune mediated diseases such as autoimmunity and allergy," said Richard A. Miller, M.D., co-founder, president and chief executive officer of Corvus. "Accordingly, we are pleased to welcome Dr. Rosenbaum to lead our research efforts. He brings deep clinical and research experience specific to immunology, inflammation and autoimmune diseases, which we believe will enhance our ability to advance on multiple fronts with this program. He will also be a key leader in the ongoing development of our pipeline."

Dr. Rosenbaum, a board-certified rheumatologist and preeminent immunologist, previously served as Professor of Ophthalmology, Medicine, and Cell Biology and Chair, Division of Arthritis & Rheumatic Diseases, at Oregon Health & Science University where he held a professorship named in honor of his father, Edward E Rosenbaum. Prior to 1985, Dr. Rosenbaum held faculty positions at the University of California, San Francisco School of Medicine and California Pacific Medical Center. He has authored over 600 publications involving areas including inflammation, autoimmunity, arthritic diseases and the role of the microbiome in immunity. He is considered to be one of the world's leading experts in uveitis and inflammatory diseases of the eye. His research has been supported by the National Institutes of Health for more than 25 years. In addition, Dr. Rosenbaum has served on the editorial board of a wide range of scientific and medical journals and currently is active as Chair Emeritus of the Legacy Devers Eye Institute. Dr. Rosenbaum is a member of numerous professional societies, including Master of the American College of Rheumatology, Fellow of the Association for Research in Vision and Ophthalmology, the American Federation of Clinical Research, the American Association for the Advancement of Science, and elected member of the American Society for Clinical Investigation and the Association of American Physicians. He received an M.D. with honors from Yale University School of Medicine and graduated with an AB from Harvard University magna cum laude. Other honors include the Clinician Scholar Award and Innovative Research Award from the American College of Rheumatology, the Friedenwald Award from the Association for Research in Vision and Ophthalmology, and the Gold Medal from the International Uveitis Society Group Foundation.

About Corvus Pharmaceuticals

Corvus Pharmaceuticals is a clinical-stage biopharmaceutical company. Corvus' lead product candidate is mupadolimab (CPI-006), a humanized monoclonal antibody directed against CD73 that has exhibited immunomodulatory activity and activation of immune cells in preclinical and clinical studies. The Company's second clinical program, CPI-818, is an investigational, oral, small molecule drug that selectively inhibited ITK in preclinical studies and is in a multicenter Phase 1/1b clinical trial in patients with several types of T-cell lymphomas. Its third clinical program, ciforadenant (CPI-444), is an oral, small molecule inhibitor of the A2A receptor. For more information, visit www.corvuspharma.com.

About CPI-818

CPI-818 is an investigational small molecule drug given orally that has selectively inhibited ITK (interleukin-2-inducible T-cell kinase) in preclinical studies. It was designed to block malignant T-cell growth and to modulate immune responses. ITK, an enzyme, is expressed predominantly in T-cells and plays a role in T-cell and natural killer (NK) cell lymphomas and leukemias, as well as in T cell differentiation, T cell receptor signaling and other normal immune functions. Interference with ITK signaling can modulate immune responses to various antigens. The Company believes the inhibition of specific molecular targets in T-cells may be of therapeutic benefit for patients with T-cell lymphomas and leukemias and in patients with autoimmune and allergic diseases. The Company is conducting a Phase 1/1b trial in patients with refractory T-cell lymphomas that was designed to select the optimal dose of CPI-818 and evaluate its safety, PK, target occupancy, immunologic effects, biomarkers and efficacy. Interim data from the Phase 1/1b clinical trial of CPI-818 for T cell lymphoma demonstrated tumor responses in very advanced, refractory, difficult to treat T cell malignancies.

Forward-Looking Statements

This press release contains forward-looking statements, including statements related to the potential safety and efficacy of mupadolimab, CPI-818 and ciforadenant; the Company's ability and Angel Pharmaceutical's ability, as well as the timing thereof, to develop and advance product candidates into and successfully complete preclinical studies and clinical trials, including the Company's and Angel Pharmaceutical's potential global Phase 2 clinical trial for CPI-818; and the availability and announcement of clinical data and certain other product development milestones, including the timing of results in the Phase 1b/2 clinical trial for CPI-818. All statements other than statements of historical fact contained in this press release are forward-looking statements. These statements often include words such as "believe," "expect," "anticipate," "intend," "plan," "estimate," "seek," "will," "may" or similar expressions. Forward-looking statements are subject to a number of risks and uncertainties, many of which involve factors or circumstances that are beyond the Company's control. The Company's actual results could differ materially from those stated or implied in forward-looking statements due to a number of factors, including but not limited to, risks detailed in the Company's Quarterly Report on Form 10-Q for the quarter ended March 31, 2022, filed with the Securities and Exchange Commission on May 5, 2022, as well as other documents that may be filed by the Company from time to time with the Securities and Exchange Commission. In particular, the following factors, among others, could cause results to differ materially from those expressed or implied by such forward-looking statements: the Company's ability to demonstrate sufficient evidence of efficacy and safety in its clinical trials of mupadolimab, CPI-818 and ciforadenant; the accuracy of the Company's estimates relating to its ability to initiate and/or complete preclinical studies and clinical trials; the results of preclinical studies may not be predictive of future results; the unpredictability of the regulatory process; regulatory developments in the United States, and other foreign countries; regulatory developments in the United States, and other foreign countries; the costs of clinical trials may exceed expectations; and the Company's ability to raise additional capital. Although the Company believes that the expectations reflected in the forward-looking statements are reasonable, it cannot guarantee that the events and circumstances reflected in the forward-looking statements will be achieved or occur, and the timing of events and circumstances and actual results could differ materially from those projected in the forward-looking statements. Accordingly, you should not place undue reliance on these forward-looking statements. All such statements speak only as of the date made, and the Company undertakes no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise.

INVESTOR CONTACT:

Leiv Lea

Chief Financial Officer

Corvus Pharmaceuticals, Inc.

+1-650-900-4522

llea@corvuspharma.com

MEDIA CONTACT:

Sheryl Seapy

Real Chemistry

+1-949-903-4750

sseapy@realchemistry.com

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https://ml.globenewswire.com/media/70c77c96-f27f-4032-aa6c-454977cdd6a2/small/corvus-logo-small-jpg.jpg

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