Anixa and OntoChem Announce Completion of Initial Screening Program and Identification of Additional Covid-19 Compounds

Rhea-AI Summary

Anixa Biosciences, Inc. (NASDAQ: ANIX) announced on July 6, 2020, the completion of the initial drug discovery program in collaboration with OntoChem. They have identified a new compound and several analogs that might inhibit the main protease (M^pro) of a virus. The synthesized compounds are undergoing biological testing, with results expected soon. Additionally, a new in silico library has been created for further evaluation. The company aims to develop inexpensive oral medications for viral treatment, though it remains in the early developmental stages.

Positive

• Completion of initial drug discovery screening, identifying multiple candidate compounds.
• New compounds synthesized for biological testing, with results anticipated shortly.
• Creation of a new in silico library for further compound evaluation.

Negative

• None.

SAN JOSE, Calif., July 6, 2020 /PRNewswire/ -- Anixa Biosciences, Inc. (NASDAQ: ANIX), a biotechnology company focused on the treatment and prevention of cancer and infectious diseases, today announced that it and partner OntoChem have completed the initial in silico screening process of their drug discovery program and have identified an additional specific compound, as well as multiple analogs, that could function as inhibitors of the main protease (M^pro) of the virus.  As previously announced, Anixa and OntoChem have identified four compounds that could disrupt the function of a viral enzyme called an endoribonuclease (also known as Non-Structural Protein-15, or NSP-15).   

The potential NSP-15 inhibitors have been synthesized and are in the process of being tested in biological assays, the results of which should be available in a few weeks or sooner.  The candidate inhibitors of M^pro are being synthesized, a process that is anticipated to take three to four weeks, and then they will be tested in biological assays. 

Based on initial identification of the M^pro scaffold compound, Anixa and OntoChem have created a new in silico library of analog compounds that will be evaluated through additional in silico screening to choose which additional compounds may be synthesized and evaluated in biological assays.

Dr. Amit Kumar, President and CEO of Anixa stated, "When we began this collaborative project approximately two months ago, we indicated that the screening of the compound libraries would be completed in eight to ten weeks.  We are pleased to have completed this segment of the program and to have identified multiple key candidates that have been synthesized or are being synthesized for the next phase, which is biological testing.  While we have made rapid progress on this program, and we hope to continue that pace, it's important to note that we are still in the early stages of our development."

"In parallel with the biological testing, we will continue additional in silico analysis to better refine the clinical properties of the compounds such as oral availability and other key drug-like characteristics.  Our vision is to have a medicine that is inexpensive, easy to manufacture and can be taken as a pill that does not require administration in a hospital setting.  While there is no guarantee that we will achieve this, our in silico analysis is targeted to identify compounds that have the best ability to meet these goals," stated Dr. Lutz Weber, CEO of OntoChem. 

About Anixa Biosciences, Inc.
Anixa is a publicly-traded biotechnology company developing a number of programs addressing cancer and infectious disease.  Anixa's therapeutic portfolio includes a cancer immunotherapy program which uses a novel type of CAR-T, known as chimeric endocrine receptor T-cell (CER-T) technology, and a Covid-19 therapeutics program focused on inhibiting certain viral protein function.  The company's vaccine portfolio consists of a technology focused on the immunization against α-Lactalbumin to prevent triple negative breast cancer (TNBC).  Anixa continually examines emerging technologies in complementary fields for further development and commercialization.  Additional information is available at www.anixa.com.

Forward-Looking Statements:  Statements that are not historical fact may be considered forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995.  Forward-looking statements are not statements of historical facts, but rather reflect Anixa's current expectations concerning future events and results.  We generally use the words "believes," "expects," "intends," "plans," "anticipates," "likely," "will" and similar expressions to identify forward-looking statements.  Such forward-looking statements, including those concerning our expectations, involve risks, uncertainties and other factors, some of which are beyond our control, which may cause our actual results, performance or achievements, or industry results, to be materially different from any future results, performance, or achievements expressed or implied by such forward-looking statements.  These risks, uncertainties and factors include, but are not limited to, those factors set forth in "Item 1A - Risk Factors" and other sections of our most recent Annual Report on Form 10-K as well as in our Quarterly Reports on Form 10-Q and Current Reports on Form 8-K.  We undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.  You are cautioned not to unduly rely on such forward-looking statements when evaluating the information presented in this press release.

Anixa contact:
Mike Catelani
mcatelani@anixa.com
408-708-9808

Tiberend Strategic Advisors, Inc. 
Miriam Miller (Investors)
mmiller@tiberend.com 
212-375-2694
Johanna Bennett (Media)
jbennett@tiberend.com 
212-375-2686

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SOURCE Anixa Biosciences, Inc.

FAQ

What recent developments has Anixa Biosciences, Inc. (ANIX) made in drug discovery?

Anixa has identified new compounds that could inhibit a viral protease and completed initial drug screening.

When are the results of the biological testing for Anixa's compounds expected?

The results of the biological testing are expected in a few weeks or sooner.

What is the goal of Anixa's collaboration with OntoChem?

The goal is to develop inexpensive oral medications to treat viral infections.

What type of compounds did Anixa and OntoChem identify for COVID-19 treatment?

They identified compounds that inhibit the main protease (M^pro) and analogs targeting Non-Structural Protein-15 (NSP-15).

What is the stock symbol for Anixa Biosciences?

The stock symbol for Anixa Biosciences is ANIX.