AbFero to Receive € 2M Eurostars Funding for Parkinson's Disease Therapy

Clinical stage pharmaceutical company forms multi-national research consortium to establish iron chelating compounds as disease modifying therapy for Parkinson's

HARWELL, England, Dec. 1, 2020 /PRNewswire/ -- AbFero Ltd., a subsidiary of AbFero Pharmaceuticals, Inc., a privately-held clinical stage pharmaceutical company dedicated to treating diseases of iron overload, today announced the funding of approximately € 2M from EUREKA Eurostars for the development of iron chelating compounds including their lead agent, SP-420, as a disease modifying therapy for Parkinson's disease.

"This grant is an important step forward for AbFero as we test our portfolio of iron chelating compounds in central nervous system indications," said AbFero CEO Thomas Neenan. "With three Phase 1 clinical trials complete, this funding will accelerate our drive to a Phase 2 trial of SP-420 in Parkinson's patients, for whom disease modifying agents remain much needed." 

The programme objective is to complete pre-clinical proof-of-performance of SP-420 in Parkinson's. AbFero expects the small molecule will reverse the accumulation of iron in the brain, reducing iron-related oxidative stress, ferroptosis, and alpha-synuclein aggregation, well-known neuropathological hallmarks of the condition. Removal of excess brain iron via chelation has long been considered an attractive disease modifying approach, but the field lacks a therapy with sufficient safety and proven efficacy.

AbFero formed a multinational consortium of leading Parkinson's researchers for this effort: Prof. Pier G. Mastroberardino, Erasmus Medical Center (Netherlands);  Prof. David Devos, University Hospital of Lille (France); and Dr. Jan Kehr, Pronexus Analytical AB (Sweden). Pharmaceutical industry veteran and Parkinson's patient advocate David Ashford Jones will manage the project, "Novel Parkinson's Disease Therapy Targeting Iron-related Cell Death and Alpha-synuclein Aggregation."

"This exciting research is a huge step forward in the development of targeted therapies for Parkinson's. Not only does this particular therapy hold promise, but it will also increase our knowledge of what causes Parkinson's, and it will help us identify more treatments to improve the lives of people with the condition," said Professor David Dexter, Associate Director of Research at Parkinson's UK. "We look forward to seeing developments coming out of this research."

"We're grateful to the Eurostars programme and the EUREKA national funding bodies for this award," Neenan added. "Their support makes it possible to solve complex problems like Parkinson's by integrating international skill-sets and expertise. AbFero is proud to be in the Eurostars programme."

About AbFero, Ltd.
AbFero, Ltd., is a subsidiary of AbFero Pharmaceuticals, Inc., a privately-held clinical stage pharmaceutical company dedicated to treating diseases of iron overload. AbFero's technology is based upon the discoveries of a pioneer in the field of iron chelator medicinal chemistry, Professor Raymond Bergeron, University of Florida. Our therapeutic platform addresses transfusional iron overload (TIO) and iron accumulation associated with retinal and neurologic diseases including age-related macular degeneration (AMD), Parkinson's disease (PD), and traumatic brain injury (TBI). AbFero has completed three clinical trials with the company's lead iron chelator, SP-420. AbFero, Ltd., is located in Harwell, UK. For more information, visit https://www.abferopharmaceuticals.com.

Investor & Media Contact:
Mih-Ho Cha
mcha@abfero.com

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SOURCE AbFero Pharmaceuticals, Inc.