Proteostasis Therapeutics, Inc. (Nasdaq:PTI), a clinical stage biopharmaceutical company dedicated to the discovery and development of groundbreaking therapies to treat cystic fibrosis (CF), today announced results from in vitro studies evaluating the use of PTI-1
| BOSTON, June 1, 2020 /PRNewswire/ -Proteostasis Therapeutics, Inc., Inc. (Nasdaq:PTI), a clinical stage biopharmaceutical company dedicated to the discovery and development of groundbreaking therapies to treat cystic fibrosis (CF), today announced results from in vitro studies evaluating the use of PTI-129 as a treatment for COVID-19. PTI-129 is a pre-clinical, once-daily, oral small molecule originally designed to treat protein misfolding disorders involving the unfolded protein response (UPR). Upon infection, coronaviruses hijack the host cell endoplasmic reticulum (ER) to quickly produce a larger quantity of misfolding-prone viral glycoproteins. The accumulation of misfolded and unfolded proteins in the ER causes ER stress and induces the UPR. In in vitro studies conducted at Calibr, the drug discovery division of Scripps Research, PTI-129 demonstrated the potential to reduce viral protein production in host cells by activating the adaptive branches of the UPR pathway and reducing the levels of misfolded proteins. “The ongoing COVID-19 pandemic is a public health crisis that demands the investigation of all possible avenues of resolution,” said Meenu Chhabra, President and CEO of Proteostasis. “We are exploring ways to further our understanding of PTI-129’s potential in fighting COVID-19, and are seeking support from governmental agencies to accelerate this program.” “The urgent need to develop effective treatments against COVID-19 is a global priority, and Calibr is committed to studying a broad spectrum of compounds and pathways, such as the UPR modulator, PTI-129, in the fight against this disease,” said Arnab Chatterjee, PhD, Vice President of Medicinal Chemistry at Calibr. About Proteostasis Therapeutics, Inc. Proteostasis Therapeutics, Inc. is a clinical stage biopharmaceutical company developing small molecule therapeutics to treat cystic fibrosis and other diseases caused by dysfunctional protein processing. Headquartered in Boston, MA, the Proteostasis Therapeutics team focuses on identifying therapies that restore protein function. For more information, visit www.proteostasis.com. Forward Looking Statements This press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, including, but not limited to, statements regarding our expectations of PTI-129 as a potential treatment for COVID-19 based on in vitro studies, the potential for partnership with and support from government agencies, and potential therapeutic potential of PTI-129. Words such as “aim,” “may,” “will,” “expect,” “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, although not all forward-looking statements contain these identifying words. Any forward-looking statements in this press release are based on management’s current expectations and beliefs and are subject to a number of risks, uncertainties and important factors that may cause actual events or results to differ materially from those expressed or implied by any forward-looking statements contained in this press release, including, without limitation, risks and uncertainties related to include, results from in vitro laboratory tests of PTI-129 are not necessarily predictive of future clinical trial and in vivo results; the potential of PTI-129 for the treatment of COVID-19; the delay of any current or planned preclinical studies or clinical trials or the development of our product candidates; our ability to successfully demonstrate the efficacy and safety of our drug candidates including in later-stage studies and trials; the preclinical and clinical results for our product candidates, which may not support further development of such product candidates; actions of regulatory agencies, any or all of which may affect the initiation, timing and progress of preclinical studies, clinical trials and regulatory development. In addition, the COVID-19 pandemic and the associated containment efforts have had a serious adverse impact on the economy, the severity and duration of which are uncertain. Government stabilization efforts will only partially mitigate the consequences. The extent and duration of the impact on our business and operations is highly uncertain, and that impact includes effects on our commercialization and marketing, manufacturing and supply chain, and clinical trial operations. Factors that will influence the impact on our business and operations include the duration and extent of the pandemic, the extent of imposed or recommended containment and mitigation measures, and the general economic consequences of the pandemic. The pandemic could have a material adverse impact on our business, operations and financial results for an extended period of time. For a discussion of other risks and uncertainties, and other important factors, any of which could cause our actual results to differ from those contained in the forward-looking statements, see the section entitled “Risk Factors” in our Quarterly Report on Form 10-Q for the quarter ended March 31, 2020 filed with the Securities and Exchange Commission on May 15, 2020, as well as discussions of potential risks, uncertainties, and other important factors in our subsequent filings with the Securities and Exchange Commission. We assume no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law. CONTACTS: Investors: Media:
SOURCE Proteostasis Therapeutics, Inc. | ||
Company Codes: NASDAQ-NMS:PTI |
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