Immuron Update on IMM-124E SARS-CoV-2 Research

Rhea-AI Summary

Immuron Limited (ASX: IMC; NASDAQ: IMRN) announced a strategic shift on August 19, 2022, deprioritizing its SARS-CoV-2 research to focus on advanced therapeutic drug candidates. The company is entering FY23 with a new CEO assessing its product portfolio and growth strategies. Immuron's previous research indicated the potential antiviral activity of its drug candidate IMM-124E against SARS-CoV-2, but the mechanism of action remains unclear. The evolving virus and treatment landscape pose challenges for clinical trials.

Positive

• Strategic focus shift towards more advanced therapeutic drug candidates.
• New CEO leading a comprehensive assessment of product portfolio and growth strategies.
• Previous investigations demonstrated the potential antiviral activity of IMM-124E.

Negative

• Deprioritization of SARS-CoV-2 research indicates potential loss of market opportunity.
• Unclear mechanism of action for IMM-124E against SARS-CoV-2.
• Challenges in conducting clinical trials due to rapid virus evolution.

MELBOURNE, Australia, Aug. 19, 2022 (GLOBE NEWSWIRE) -- Immuron Limited (ASX: IMC; NASDAQ: IMRN), a commercial and clinical-stage biopharmaceutical company with a proprietary technology platform for prevention and treatment of gut-mediated diseases; today announced that it has deprioritized SARS-CoV-2 research to focus on the clinical development of our more advanced stage therapeutic drug candidates.

Immuron enters FY23 with a newly appointed CEO who is completing an assessment of the entire product portfolio, target markets, competitive advantage, and key growth drivers.

In consideration of our research findings, the rapid evolution of the virus and changing treatment landscape presents significant challenges to conduct a clinical trial for SARS-CoV-2 with IMM-124E.

Immuron has previously reported IMM-124E research investigations demonstrating neutralizing activity against SARS-CoV-2 (ASX announcements dated 13 May 2021, 15 December 2020, and 21 July 2020). The company has been pursuing the antiviral activities of IMM-124E, focusing on establishing a better understanding of the mechanism of action associated with these initial observations. CSIRO conducted Quantitative Mass Spectrometry analysis (LC-MS/MS) to identify potential antiviral agents that are significantly enriched in IMM-124E. Quantitative proteomics identified at least 53 proteins that are significantly overexpressed in IMM-124E compared to the Milk Powder control samples. This included 17 immunoglobulin-like proteins that appear to be enriched between two- to nine-fold in Immuron Colostrum drug substance and several small antimicrobial proteins known to function in defense against bacterial infections.

Immuron has dedicated significant resources to interrogate the mechanism of SARS-CoV-2 protection, however, the mechanism of how IMM-124E provides protection against SARS-CoV-2 viral infection remains unclear.

This release has been authorised by the directors of Immuron Limited.

COMPANY CONTACT: Steven Lydeamore Chief Executive Officer Ph: +61 (0)3 9824 5254 info@immuron.com

For more information visit: http://www.immuron.com

FAQ

What is the latest news about Immuron Limited (IMRN)?

Immuron Limited has announced a deprioritization of its SARS-CoV-2 research to focus on advanced therapeutic drug candidates.

Why has Immuron deprioritized its SARS-CoV-2 research?

The company cited challenges from the rapid evolution of the virus and a changing treatment landscape as reasons for deprioritization.

What is Immuron's new strategy for FY23?

The new CEO is conducting an assessment of the product portfolio and key growth drivers.

What were the findings related to IMM-124E?

Previous research indicated that IMM-124E may have antiviral activity against SARS-CoV-2, but its mechanism of action is still unclear.