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Conduit Pharmaceuticals Inc. (symbol: CDT) is a clinical-stage specialty biopharmaceutical company committed to advancing the development and commercialization of clinical assets that have been overlooked or deprioritized by leading biopharmaceutical companies. With a focus on addressing unmet medical needs, Conduit Pharmaceuticals is building a robust pipeline aimed at delivering innovative treatments to patients.
The company's current development pipeline includes a glucokinase activator, which is Phase II ready, targeting autoimmune diseases such as uveitis, Hashimoto's Thyroiditis, preterm labor, and renal transplant rejection. Additionally, Conduit is developing a potent, irreversible inhibitor of human Myeloperoxidase (MPO), which has shown potential in treating idiopathic male infertility.
Recent initiatives highlight Conduit's strategic partnerships and innovative approach. One notable collaboration is with ClinConnect, a technology company that simplifies patient enrollment in clinical trials, thus accelerating the development of life-changing treatments. Conduit’s alliance with ClinConnect exemplifies its dedication to breaking barriers in the biopharmaceutical field.
Moreover, Conduit Pharmaceuticals recently inaugurated a new laboratory space in Cambridge, a renowned life sciences hub. This facility is set to enhance the company’s intellectual property portfolio through solid form technology, maximizing out-licensing value. The Cambridge laboratory will serve as the core of Conduit’s workstream management platform, integrating scientific expertise with advanced algorithmic and AI tools to streamline asset selection and clinical trial operations.
Under the leadership of experienced pharmaceutical executives, including Dr. David Tapolczay and Dr. Freda Lewis-Hall, Conduit Pharmaceuticals leverages a novel business model. By acquiring and funding Phase II-ready assets and pursuing exits through third-party licensing post successful trials, the company deviates from traditional pharmaceutical practices. This approach allows Conduit to efficiently bring promising treatments to market.
Conduit Pharmaceuticals remains focused on its mission to deliver innovative, life-changing pharmaceutical products. With a forward-thinking strategy, robust pipeline, and strategic collaborations, the company is poised to make significant advancements in addressing critical medical needs.
Conduit Pharmaceuticals (Nasdaq: CDT) has partnered with SARBORG to implement AI and cybernetics technology across its drug development operations. The agreement focuses on enhancing drug repurposing, discovery, solid-form identification, and clinical trial monitoring processes. The collaboration aims to reduce human error, lower costs, and improve efficiency in critical decision-making processes.
Through this partnership, Conduit will access predictive models and dashboards for real-time data evaluation of drug candidates and clinical trials. The company will retain perpetual, non-exclusive, royalty-free, and assignable rights to any platform developed by Sarborg. The implementation of these AI-driven solutions is expected to accelerate growth and maintain Conduit's competitive edge in the pharmaceutical sector.
Conduit Pharmaceuticals (Nasdaq: CDT) has received approval from the Japan Patent Office for a composition of matter patent for its lead asset, AZD1656, a Glucokinase Activator targeting autoimmune disorders. This approval follows a recent patent grant in Australia, strengthening the company's intellectual property portfolio. The Japanese patent approval is particularly significant as Japan represents one of the world's largest pharmaceutical markets, enhancing Conduit's global patent coverage and potential out-licensing opportunities.
Conduit Pharmaceuticals (Nasdaq: CDT) has appointed Simon Fry to its Board of Directors, effective December 18, 2024. Fry brings over 30 years of investment banking experience, having served as CEO at Crosby Asset Management and Managing Director at Nomura. At Nomura, he established the Asset Investment Group and led the International Markets Division. Previously, he spent 14 years at Credit Suisse First Boston, where he developed the Asset Trading Group. Based in Los Angeles, Fry will serve on both the Audit Committee and Compensation Committee, contributing his expertise in capital markets and strategic asset management to support Conduit's growth objectives.
Conduit Pharmaceuticals (Nasdaq: CDT) has filed two new patent applications for its lead clinical candidate, AZD1656, including a novel composition of matter filing for CDT1656. The new asset combines AZD1656 with a second compound targeting autoimmune disorders. This strategic move aims to expand Conduit's market opportunities in the autoimmune therapeutics market, currently valued at $214.54 billion and expected to reach $339 billion by 2030 with a 7.90% CAGR. The company's strategy focuses on building valuable IP and positioning itself for future licensing opportunities in the autoimmune sector.
Conduit Pharmaceuticals (Nasdaq: CDT) announced a significant debt restructuring and new financing arrangements. The company has restructured its $2.65 million loan note with Nirland , removing restrictive clauses that fundraising flexibility. The note is now convertible at $0.10 per share. Additionally, Conduit secured $1.2 million through two $600,000 promissory notes from third parties for accounts payable requirements. The company can now access its At-The-Market (ATM) facility with A.G.P., effective November 1, 2024, providing flexible capital for note repayment, operational and clinical objectives.
Conduit Pharmaceuticals (Nasdaq: CDT) has announced its participation in the H.C. Wainwright 26th Annual Global Investment Conference, scheduled for September 9-11, 2024. The company's Founder and CEO, Dr. David Tapolczay, will deliver a virtual presentation available on-demand starting September 9th at 7:00 am ET/12:00 pm BST.
Dr. Tapolczay will also be available for in-person, one-on-one investor meetings throughout the conference at the Lotte New York Palace Hotel. Interested parties can register for the presentation via H.C. Wainwright's website. Additionally, a webcast of the presentation will be accessible on Conduit's company website in the Events section.
Conduit Pharmaceuticals (Nasdaq: CDT) has announced plans to initiate Phase 2a clinical trials for its lead candidate, AZD1656, targeting systemic lupus erythematosus and ANCA-associated vasculitis. AZD1656, a HK-4 glucokinase activator originally developed by AstraZeneca for diabetes, is being repurposed for autoimmune disorders. The drug has an established safety profile, tested in over 1,000 patients across 20+ trials. Conduit aims to leverage AZD1656's potential as a first-in-class therapy for autoimmune diseases, addressing the unmet medical needs in lupus treatment, which affects over 5 million people worldwide. The global lupus treatment market is expected to grow from $2.7 billion in 2024 to $4.9 billion by 2030, with a CAGR of 8.9%.
Conduit Pharmaceuticals Inc. (Nasdaq: CDT) has entered into an exclusive license agreement with AstraZeneca for multiple assets. The deal includes rights to develop AZD1656 and AZD5658, both HK-4 glucokinase activators targeting autoimmune indications, and AZD5904, a myeloperoxidase inhibitor for idiopathic male infertility. These assets have shown favorable preclinical and Phase I data.
Conduit plans to initiate Phase II clinical trials in 2024 for autoimmune disorders. As part of the agreement, AstraZeneca will receive Conduit common stock and a share of future sublicense revenues. Conduit aims to fast-track development and bring innovative medicines to patients with unmet needs.
Conduit Pharmaceuticals (Nasdaq: CDT) has received approval for a composition of matter patent from IP Australia for its lead asset, an HK-4 Glucokinase Activator targeting autoimmune diseases. The company is enrolled in the Patent Prosecution Highway (PPH) program, which may fast-track patent approvals in major markets like the U.S., Europe, and Japan. The patent, valid for up to 20 years, covers cocrystals of AZD1656, identified through innovative solid-form technology.
This approval enhances Conduit's intellectual property portfolio and strengthens its position for future out-licensing opportunities. The cocrystal patents are classified as 'drug substance' patents in the FDA's Orange Book, adding significant value to the company's assets. Dr. David Tapolczay, CEO, emphasized that this approval validates their R&D capabilities and optimizes their IP portfolio's value.
Conduit Pharmaceuticals (Nasdaq: CDT) will join the Russell 3000® Index after the 2024 Russell US Indexes annual reconstitution, effective July 1, 2024. The Russell 3000® Index encompasses the 4,000 largest US stocks based on market capitalization as of April 30, 2024.
Inclusion means Conduit will automatically be part of either the Russell 1000® or Russell 2000® Index, and relevant growth and value style indexes. FTSE Russell uses market-cap rankings and style attributes to determine membership.
Dr. David Tapolczay, CEO of Conduit, expressed excitement about increased visibility in the investment community and reaffirmed the company's commitment to advancing therapies for patients. Approximately $10.5 trillion in assets are benchmarked against Russell US indexes.
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