Theriva Biologics Selected as Finalist in International Competition for Merck KGaA's EMEA Advance Biotech Grant

Rhea-AI Summary

Theriva Biologics (NYSE American: TOVX) has been selected as one of five finalists for Merck KGaA's EMEA Advance Biotech Grant. The company will present its VCN-01 therapy, currently in Phase 2b clinical trials for first-line metastatic pancreatic cancer, at BIO-Europe 2024 in Stockholm. Dr. Manel Cascalló will showcase the therapy's novel mechanisms and manufacturing process on November 4, 2024. The grant program offers winners financial support and commercialization guidance, including consultation with M Ventures. The winner will be announced following presentations from all five finalists.

Positive

• Selected as finalist for Merck KGaA's EMEA Advance Biotech Grant
• Potential to receive financial support and commercialization guidance if selected as winner

Negative

• None.

Winner to be Presented at BIO-Europe 2024 in Stockholm, Sweden

ROCKVILLE, Md., Oct. 31, 2024 (GLOBE NEWSWIRE) -- Theriva™ Biologics (NYSE American: TOVX), a diversified clinical-stage company developing therapeutics designed to treat cancer and related diseases in areas of high unmet need, today announced selection as one of five finalists for Merck KGaA's EMEA Advance Biotech Grant. Finalists for the grant will present to a six-judge panel from Merck’s Emerging Biotech group during BIO Europe 2024 in Stockholm, Sweden.

Manel Cascalló, PhD., General Director - EU Subsidiary, Theriva Biologics, will present an overview of VCN-01, currently being studied in a Phase 2b clinical trial in first-line metastatic pancreatic cancer in combination with standard-of-care chemotherapy. Dr Cascalló will highlight VCN-01’s novel mechanisms of action and Theriva’s internal capabilities to develop its manufacturing process in his presentation on Monday, November 4, 2024 from 15:20-16:40 CET/CEST (GMT+2).

Merck KGaA’s EMEA Advance Biotech Grant Program celebrates standout emerging biotech companies, and winners receive financial support and guidance on navigating their path to commercialization, including consultation with M Ventures. After multiple rounds of dynamic competition involving diverse biotech companies and technologies, the five selected finalists, will pitch their breakthroughs to Merck KGaA representatives and the overall BIO-Europe audience. The winner will be announced following the five presentations.

About Theriva™ Biologics, Inc.

Theriva™ Biologics (NYSE American: TOVX), is a diversified clinical-stage company developing therapeutics designed to treat cancer and related diseases in areas of high unmet need. The Company is advancing a new oncolytic adenovirus platform designed for intravenous (IV), intravitreal and antitumoral delivery to trigger tumor cell death, improve access of co-administered cancer therapies to the tumor, and promote a robust and sustained anti-tumor response by the patient’s immune system. The Company’s lead candidates are: (1) VCN-01, an oncolytic adenovirus designed to replicate selectively and aggressively within tumor cells, and to degrade the tumor stroma barrier that serves as a significant physical and immunosuppressive barrier to cancer treatment; (2) SYN-004 (ribaxamase) which is designed to degrade certain commonly used IV beta-lactam antibiotics within the gastrointestinal (GI) tract to prevent microbiome damage, thereby limiting overgrowth of pathogenic organisms such as VRE (vancomycin resistant Enterococci) and reducing the incidence and severity of acute graft-versus-host-disease (aGVHD) in allogeneic hematopoietic cell transplant (HCT) recipients; and (3) SYN-020, a recombinant oral formulation of the enzyme intestinal alkaline phosphatase (IAP) produced under cGMP conditions and intended to treat both local GI and systemic diseases. For more information, please visit Theriva Biologics’ website at www.therivabio.com.

Forward-Looking Statement

This release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. In some cases forward-looking statements can be identified by terminology such as “may,” “should,” “potential,” “continue,” “expects,” “anticipates,” “intends,” “plans,” “believes,” “estimates,” and similar expressions, and include statements regarding presenting an overview of VCN-01to a six-judge panel from Merck’s Emerging Biotech group during BIO Europe 2024 in Stockholm, Sweden and highlighting VCN-01’s novel mechanisms of action and Theriva’s internal capabilities to develop its manufacturing process. These forward-looking statements are based on management’s expectations and assumptions as of the date of this press release and are subject to a number of risks and uncertainties, many of which are difficult to predict that could cause actual results to differ materially from current expectations and assumptions from those set forth or implied by any forward-looking statements. Important factors that could cause actual results to differ materially from current expectations include, among others, the Company’s ability to reach clinical milestones when anticipated, the Company’s product candidates demonstrating safety and effectiveness, as well as results that are consistent with prior results, the Company’s ability to complete clinical trials on time and achieve the desired results and benefits, continuing clinical trial enrollment as expected; the Company’s ability to obtain regulatory approval for commercialization of product candidates or to comply with ongoing regulatory requirements, regulatory limitations relating to the Company’s ability to promote or commercialize their product candidates for the specific indications, acceptance of product candidates in the marketplace and the successful development, marketing or sale of the Company’s products, developments by competitors that render such products obsolete or non-competitive, the Company’s ability to maintain license agreements, the continued maintenance and growth of the Company’s patent estate, the ability to continue to remain well financed and other factors described in the Company’s Annual Report on Form 10-K for the year ended December 31, 2023 and its other filings with the SEC, including subsequent periodic reports on Forms 10-Q and current reports on Form 8-K. The information in this release is provided only as of the date of this release, and Theriva Biologics undertakes no obligation to update any forward-looking statements contained in this release on account of new information, future events, or otherwise, except as required by law.

For further information, please contact: 
Investor Relations: 
Chris Calabrese 
LifeSci Advisors, LLC 
ccalabrese@lifesciadvisors.com 
917-680-5608

FAQ

When will Theriva Biologics (TOVX) present at BIO-Europe 2024?

Theriva Biologics will present on Monday, November 4, 2024, from 15:20-16:40 CET/CEST in Stockholm, Sweden.

What is Theriva Biologics (TOVX) presenting at the Merck KGaA grant competition?

Theriva Biologics is presenting VCN-01, their therapy currently in Phase 2b clinical trials for first-line metastatic pancreatic cancer, including its novel mechanisms of action and manufacturing process.

What will the winner of Merck KGaA's EMEA Advance Biotech Grant receive?

The winner will receive financial support and guidance on commercialization, including consultation with M Ventures.