PhaseBio Announces Interim Analysis of REVERSE-IT Phase 3 Trial Accepted for Late Breaking Science Presentation at the American Heart Association Scientific Sessions 2021

Rhea-AI Summary

PhaseBio Pharmaceuticals, Inc. (NASDAQ: PHAS) announced the acceptance of its pivotal Phase 3 trial, REVERSE-IT, for presentation at the American Heart Association's Scientific Sessions on November 15, 2021. The trial investigates the reversal of antiplatelet effects of ticagrelor with bentracimab in patients facing uncontrolled bleeding or requiring urgent surgery. Approximately 200 participants are targeted, with earlier results showing successful enrollment of 143 patients. Bentracimab aims to mitigate the bleeding risks associated with ticagrelor use.

Positive

• REVERSE-IT trial accepted for presentation at a prestigious medical conference.
• Successful enrollment of 143 patients with plans for 200 participants.
• Bentracimab demonstrates potential for life-saving therapeutic benefits.

Negative

• None.

MALVERN, Pa. & SAN DIEGO--(BUSINESS WIRE)-- PhaseBio Pharmaceuticals, Inc. (Nasdaq: PHAS), a clinical-stage biopharmaceutical company focused on the development and commercialization of novel therapies for cardiopulmonary diseases, today announced that REVERSE-IT (Rapid and SustainEd ReVERSal of TicagrElor – Intervention Trial), the pivotal Phase 3 trial designed to study reversal of the antiplatelet effects of ticagrelor with bentracimab in patients who present with uncontrolled major or life-threatening bleeding or who require surgery or invasive procedure, has been accepted for presentation in a virtual Late Breaking Science session at the American Heart Association (AHA) Scientific Sessions 2021 on Monday, November 15, 2021.

Presentation Information

• Title: Effect of Bentracimab on Platelet Inhibition and Hemostasis in Ticagrelor Patients with Uncontrolled Hemorrhage or Requiring Urgent Surgery in the REVERSE-IT Trial

• Presenting Author: Deepak L. Bhatt, MD, MPH, Executive Director of Interventional Cardiovascular Programs, Brigham and Women's Hospital Heart & Vascular Center and Professor of Medicine at Harvard Medical School

• Session Title: New Drugs and New Drug Indications in Cardiovascular Disease

• Session Number: LBS.07

• Date: November 15, 2021

• Session Time: 11:00 am – 12:00 pm ET

• Presentation Time: 11:30 am – 11:38 am ET

“We are pleased to have the opportunity to present the results from the pivotal REVERSE-IT Phase 3 trial as a late breaker at this year’s American Heart Association Scientific Sessions,” said John Lee, M.D., Ph.D., Chief Medical Officer of PhaseBio. “Presenting the results from this trial to a broad cross section of the cardiology community is an important milestone for PhaseBio and the REVERSE-IT trial. I’d like to thank the team at PhaseBio and our network of clinical investigators and advisors who have worked diligently to enroll the trial and rapidly analyze the data, enabling us to share the results at a high-profile medical congress like AHA.21.”

REVERSE-IT is a Phase 3, multi-center, open-label, prospective single-arm trial designed to study reversal of the antiplatelet effects of ticagrelor with bentracimab in patients who present with uncontrolled major or life-threatening bleeding or who require surgery or invasive procedure. Approximately 200 patients are being targeted to be enrolled from major health centers worldwide. Patients with reported use of ticagrelor within the prior 3 days who require urgent ticagrelor reversal are eligible for enrollment. In August 2021, PhaseBio announced that it had enrolled the first 143 patients in the REVERSE-IT trial, 138 of whom required surgery or an invasive procedure and five of whom experienced uncontrolled major or life-threatening bleeding. The Company is commencing preparation of the BLA and targeting a BLA submission to the U.S. Food and Drug Administration (FDA) in mid-2022.

Bentracimab has been studied in Phase 1 and Phase 2 clinical trials and has demonstrated the potential to bring life-saving therapeutic benefit through immediate and sustained reversal of the antiplatelet activity of ticagrelor, potentially mitigating concerns regarding bleeding risks associated with the use of this antiplatelet drug. Additionally, in a translational study, bentracimab achieved equivalent reversal of branded ticagrelor and multiple ticagrelor generics.

About Bentracimab (PB2452)
Bentracimab is a novel, recombinant, human monoclonal antibody antigen-binding fragment designed to reverse the antiplatelet activity of ticagrelor in major bleeding and surgery situations. In a Phase 1 clinical trial, bentracimab demonstrated the potential to bring life-saving therapeutic benefit through immediate and sustained reversal of ticagrelor’s antiplatelet activity, mitigating concerns regarding bleeding risks associated with the use of this antiplatelet drug. The Phase 1 clinical trial of bentracimab in healthy volunteers was published in the New England Journal of Medicine in March 2019. In April 2019, bentracimab received Breakthrough Therapy Designation from the U.S. Food and Drug Administration (FDA). In September 2019, PhaseBio completed a Phase 2a trial in which bentracimab was investigated in older and elderly subjects on dual antiplatelet therapy of ticagrelor and low-dose aspirin. Additionally, the Phase 2a trial investigated a bentracimab regimen for the reversal of supratherapeutic doses of ticagrelor in healthy younger subjects. In both arms of the trial, bentracimab achieved immediate and sustained reversal of the antiplatelet effects of ticagrelor and was generally well-tolerated, with only minor adverse events reported. These results are consistent with the results observed in healthy younger subjects treated with ticagrelor in the previously published Phase 1 trial. PhaseBio initiated the REVERSE-IT trial, a pivotal Phase 3 clinical trial of bentracimab, in March 2020 to support a Biologics License Application for bentracimab in both major bleeding and surgery indications.

About PhaseBio
PhaseBio Pharmaceuticals, Inc. is a clinical-stage biopharmaceutical company focused on the development and commercialization of novel therapies for cardiovascular and cardiopulmonary diseases. The company’s pipeline includes: bentracimab (PB2452), a novel reversal agent for the antiplatelet therapy ticagrelor; pemziviptadil (PB1046), a once-weekly vasoactive intestinal peptide (VIP) receptor agonist for the treatment of pulmonary arterial hypertension; and PB6440, an oral agent for the treatment of resistant hypertension. PhaseBio’s proprietary elastin-like polypeptide technology platform enables the development of therapies with potential for less-frequent dosing and improved pharmacokinetics, including pemziviptadil, and drives both internal and partnership drug-development opportunities.

PhaseBio is located in Malvern, PA, and San Diego, CA. For more information, please visit www.phasebio.com, and follow us on Twitter @PhaseBio and LinkedIn.

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 “anticipates,” “believes,” “expects,” “intends,” “potential,” “projects,” “target,” “will,” “would” and “future” or similar expressions are intended to identify forward-looking statements.

Forward-looking statements include statements concerning or implying the conduct or timing of our clinical trials and our research, development and regulatory plans for our product candidates, the timing of availability or disclosure of data from those clinical trials and the timing of planned regulatory submissions, the potential for these product candidates to receive regulatory approval from the FDA or equivalent foreign regulatory agencies, and whether, if approved, these product candidates will be successfully distributed and marketed. Forward-looking statements are based on management's current expectations and are subject to various risks and uncertainties that could cause actual results to differ materially and adversely from those expressed or implied by such forward-looking statements. Accordingly, these forward-looking statements do not constitute guarantees of future performance, and you are cautioned not to place undue reliance on these forward-looking statements.

Risks regarding our business are described in detail in our Securities and Exchange Commission filings, including in our Quarterly Report on Form 10-Q for the quarter ended June 30, 2021. These forward-looking statements speak only as of the date hereof, and PhaseBio Pharmaceuticals, Inc. disclaims any obligation to update these statements except as may be required by law.

View source version on businesswire.com: https://www.businesswire.com/news/home/20211006005374/en/

Investor Contact:

John Sharp

PhaseBio Pharmaceuticals, Inc.

Chief Financial Officer

(610) 981-6506

john.sharp@phasebio.com



Media Contact:

Will Zasadny

Canale Communications, Inc.

(619) 961-8848

will.zasadny@canalecomm.com

Source: PhaseBio Pharmaceuticals, Inc.

FAQ

What is the REVERSE-IT trial regarding PhaseBio Pharmaceuticals?

The REVERSE-IT trial is a pivotal Phase 3 study assessing the reversal of antiplatelet effects of ticagrelor using bentracimab in patients with uncontrolled bleeding or requiring surgery.

When will the results of the REVERSE-IT trial be presented?

The results will be presented during a virtual session on November 15, 2021, at the American Heart Association Scientific Sessions.

What are the implications of bentracimab based on the REVERSE-IT trial?

Bentracimab aims to provide immediate and sustained reversal of ticagrelor's antiplatelet activity, potentially addressing serious bleeding risks in clinical settings.

How many patients are involved in the REVERSE-IT trial?

The REVERSE-IT trial targets the enrollment of approximately 200 patients.

What milestones has PhaseBio Pharmaceuticals achieved in the REVERSE-IT trial?

PhaseBio has successfully enrolled 143 patients as of August 2021, indicating strong progress in the trial.