Entasis Therapeutics Awarded Contract from National Institutes of Health

Rhea-AI Summary

Entasis Therapeutics Holdings (NASDAQ: ETTX) has secured an initial $3 million contract from the National Institute of Allergy and Infectious Diseases (NIAID) with potential growth to $15.5 million. This funding supports the development of novel compounds from its non-β-lactam inhibitor (NBP) platform targeting drug-resistant infections such as Pseudomonas aeruginosa, E. coli, and Klebsiella. The partnership aims to advance candidates to IND-ready stage, validating the safety and efficacy of lead candidate ETX0462.

Positive

• Secured a contract with NIAID worth $3 million, potentially increasing to $15.5 million.
• Funding supports development of novel antibacterial compounds targeting drug-resistant pathogens.
• Validation of pre-clinical safety and efficacy for lead candidate ETX0462.

Negative

• None.

WALTHAM, Mass., July 06, 2020 (GLOBE NEWSWIRE) -- Entasis Therapeutics Holdings Inc. (NASDAQ: ETTX), a clinical-stage biopharmaceutical company focused on the discovery and development of novel antibacterial products, today announced it has entered into a contract with the National Institute of Allergy and Infectious Diseases (NIAID), part of the National Institutes of Health (NIH). The initial award of approximately $3 million, with the potential to increase up to $15.5 million, will be used to develop novel molecules from its non-β-lactam inhibitor (NBP) platform with expanded antimicrobial spectrum.

“We are extremely pleased that NIAID has awarded Entasis this contract that will help further expand the scope of our NBP program,” commented Dr. Ruben Tommasi, Chief Scientific Officer of Entasis Therapeutics. “This funding validates the pre-clinical safety and efficacy data demonstrated by our lead NBP candidate, ETX0462, in both in vivo and in vitro models against drug-resistant Pseudomonas aeruginosa infections, and the potential of the NBP platform to deliver additional molecules with expanded antimicrobial spectrum. We look forward to pursuing development of additional candidates from this novel class of Gram-negative antibiotics.”

Funding from the contract will support research towards developing molecules with expanded Gram-negative spectrum against antibiotic resistant bacterial pathogens including E. coli, Acinetobacter, Pseudomonas and Klebsiella. Subject to achieving pre-defined milestones, the contract will fund work up to IND-ready stage. National Institutes of Health, National Institute of Allergy and Infectious Diseases contract 75N93020C00017.

About Entasis
Entasis is a clinical-stage biopharmaceutical company focused on the discovery, development and commercialization of novel antibacterial products to treat serious infections caused by multidrug-resistant Gram-negative bacteria. Entasis’ pathogen-targeted design platform has produced a pipeline of product candidates, including sulbactam-durlobactam (targeting Acinetobacter baumannii infections), zoliflodacin (targeting Neisseria gonorrhoeae infections), ETX0282CPDP (targeting Enterobacteriaceae infections) and ETX0462 (targeting Pseudomonas infections). For more information, visit www.entasistx.com.

Entasis Forward-looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Words such as “may,” “will,” “expect,” “plan,” “anticipate,” “estimate,” “intend” and similar expressions (as well as other words or expressions referencing future events, conditions or circumstances) are intended to identify forward-looking statements. These forward-looking statements are based on Entasis’ expectations and assumptions as of the date of this press release. Each of these forward-looking statements involves risks and uncertainties. Actual results may differ materially from these forward-looking statements. Many factors may cause differences between current expectations and actual results, including unexpected safety or efficacy data observed during non-clinical or clinical studies, clinical site activation rates or clinical trial enrollment rates that are lower than expected and changes in expected or existing competition, changes in the regulatory environment, failure of Entasis’ collaborators to support or advance collaborations or product candidates and unexpected litigation or other disputes. Many of these factors are beyond Entasis’ control. These and other risks and uncertainties are described more fully in the Entasis’ filings with the U.S. Securities and Exchange Commission, including the section titled “Risk Factors” contained therein. Forward-looking statements contained in this announcement are made as of this date, and except as required by law, Entasis assumes no obligation to update any forward-looking statements contained herein to reflect any change in expectations, even as new information becomes available.

Entasis Company Contact    
Kyle Dow
Entasis Therapeutics
(781) 810-0114
kyle.dow@entasistx.com

Investor Relations Contacts
Tram Bui / James Salierno
The Ruth Group
(646) 536-7035 / 7028
tbui@theruthgroup.com
jsalierno@theruthgroup.com

Media Contact
Kirsten Thomas
The Ruth Group
(508) 280-6592
kthomas@theruthgroup.com

FAQ

What is the contract amount Entasis secured with NIAID?

Entasis secured an initial contract of approximately $3 million, with potential to increase up to $15.5 million.

What will the NIAID funding be used for?

The funding will be used to develop novel antibacterial molecules from its non-β-lactam inhibitor platform.

What is the significance of the lead candidate ETX0462?

ETX0462 has demonstrated safety and efficacy against drug-resistant Pseudomonas aeruginosa.

What pathogens does the NBP platform target?

The NBP platform targets antibiotic-resistant pathogens including E. coli, Acinetobacter, Pseudomonas, and Klebsiella.

What stage will the contract support Entasis to develop the candidates?

The contract supports the development of candidates up to IND-ready stage.