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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 completed initial milestones in Phase II of its strategic collaboration with AI and Cybernetics company, Sarborg The collaboration focuses on developing personalized dashboards to provide Conduit’s key personnel with real-time access to data related to deliverables, R&D oversight, and drug discovery. This phase has delivered a prototype AI product to Conduit’s management team, featuring user dashboards and interface mock-ups for real-time evaluation of key deliverables.
These dashboards will undergo continuous reassessment and improvement to enhance efficiency and data analysis. The collaboration aims to address challenges in the pharmaceutical sector, such as reducing human error in critical decision-making processes like clinical development and asset identification. By integrating Sarborg’s algorithmic AI and cybernetics technology, Conduit aims to improve efficiency, lower costs, and accelerate timelines, ultimately optimizing the drug development cycle.
Conduit is committed to adopting innovative solutions to stay at the forefront of its industry, reducing reliance on traditional methods, and leveraging AI-driven technology to maximize clinical decision-making efficiency alongside its Phase II clinical programs in auto-immune disorders.
Conduit Pharmaceuticals (Nasdaq: CDT) has announced a partnership with Charles River Laboratories to evaluate its lead compound AZD1656 in a pre-clinical Systemic Lupus Erythematosus (SLE) model. The collaboration aims to generate high-quality preclinical data to optimize the development pathway for autoimmune treatments, particularly focusing on SLE and Lupus Nephritis (LN).
The study will assess drug impact on disease progression, inflammatory markers, and pro-inflammatory cytokine levels to understand effects on Treg immunoregulation. By leveraging Charles River's expertise in immunology and preclinical research, Conduit aims to enhance predictability of clinical outcomes and increase efficiency of planned Phase II trials.
This strategic partnership is expected to provide essential data to inform and de-risk future clinical trials, potentially reducing development timelines and maximizing AZD1656's therapeutic potential while strengthening opportunities for out-licensing.
Conduit Pharmaceuticals (Nasdaq: CDT) has announced significant debt-related developments. The company has fully repaid its $600,000 promissory note to Nirland , which was issued on October 28, 2024, with a 12% annual interest rate and original maturity date of October 31, 2025.
Additionally, Nirland has converted approximately $1.7 million of the original $2.65 million principal amount under the Senior Secured Promissory Note into Conduit's common stock. This Senior Note, established on August 6, 2024, carries a 12% annual interest rate, payable monthly in arrears either in cash or as accrued at Nirland's discretion.
These actions reduce Conduit's debt obligations and align Nirland's interests with shareholders.
Conduit Pharmaceuticals (Nasdaq: CDT) has successfully completed Phase I of its strategic collaboration with Sarborg , initiated in December 2024, and is transitioning to Phase II. The collaboration aims to integrate AI and cybernetics into drug development processes.
Phase I established the foundation through management teach-in sessions, validation of proprietary inputs for cybernetic models, and comprehensive market analysis of cocrystal candidates. The work focused on aligning AI-driven processes with Conduit's portfolio, including assets AZD1656, AZD5904, AZD5658, CDT1656, and AZD1656 cocrystals.
Phase II will focus on building technological infrastructure for AI-driven drug development, featuring personalized software dashboards. These dashboards will provide real-time access to critical data related to clinical trials, drug discovery, and portfolio management, aiming to enhance operational efficiency and decision-making in autoimmune disorder clinical trials.
Conduit Pharmaceuticals (Nasdaq: CDT) has completed the first phase of its strategic collaboration with Sarborg , initiated in December 2024, to integrate artificial intelligence and cybernetics technology into its operations. The partnership aims to revolutionize drug development through AI-driven processes focused on drug repurposing, discovery acceleration, solid-form identification, and clinical trial monitoring optimization.
The completed initial milestones include Teach-in Sessions and Proprietary Inputs Validation, customized for Conduit's portfolio. This integration is expected to enhance the development of the company's proprietary assets, including AZD1656, AZD5904, AZD5658, CDT1656, and AZD1656 cocrystals. The company anticipates that AI implementation will lead to shorter development timelines, reduced costs, and improved predictability of successful outcomes, while maintaining focus on its planned Phase 2 clinical trials in auto-immune disorders.
Conduit Pharmaceuticals (Nasdaq: CDT) has announced a 1-for-100 reverse stock split effective January 24, 2025, at 5:00 pm Eastern Time. The company's common stock will begin trading on a split-adjusted basis on Nasdaq on January 27, 2025, maintaining its 'CDT' ticker symbol.
The reverse split aims to increase the stock price to meet Nasdaq's $1.00 minimum bid price requirement for continued listing. Every 100 shares will be combined into one share, reducing outstanding shares to approximately 1.5 million. The par value remains at $0.0001 per share.
Proportional adjustments will be made to equity awards, convertible securities, and warrants. VStock Transfer, will serve as the exchange agent. No fractional shares will be issued, with stockholders entitled to fractional shares receiving proportional cash payments.
Conduit Pharmaceuticals (Nasdaq: CDT) has entered into a strategic services agreement with Agility Life Sciences to develop new solid oral-dosage forms for its autoimmune pipeline. Agility, known for its drug formulation expertise, will help Conduit create enhanced oral dosage forms for future clinical trials. These formulations are protected by new composition-of-matter intellectual property (IP) and aim to meet patient preferences and disease-specific needs.
The collaboration will leverage Agility's extensive formulation knowledge to maximize the market potential of Conduit's assets. Conduit's pipeline includes several Phase 2-ready candidates with clinically tested oral formulations, enabling efficient progression into Phase 2 trials. This dual-track approach of ongoing clinical trials and formulation development aims to strengthen market protection, enhance market value, and optimize future licensing opportunities.
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.
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