STOCKHOLM, Sept. 14, 2020 /PRNewswire/ -- Cyxone (publ), a Swedish biotech company dedicated to developing improved treatments for autoimmune diseases, announces today that it plans to initiate a phase 2 clinical trial with Rabeximod in Covid-19 patients. The treatment is intended to reduce the risk of developing severe respiratory symptoms caused by virus-related overactivation of the immune system.
Most people with Covid-19 experience only mild symptoms, but in severely affected patients the immune system overreacts, triggering a disproportional release of cytokines and chemokines that leads to hyperinflammation and severe respiratory failure. There is presently no effective therapy available to combat this potentially lethal condition.
The initiation of Cyxone's clinical development program in Covid-19 patients is based on a finding of the US scientist and entrepreneur Dr. Kalev Kask, who has identified the potential of Rabeximod to control the overactivation of the immune system in patients infected with life threatening viruses, such as Sars-Cov-2. To acquire and develop all the intellectual properties of the Covid-19/Rabeximod project, Cyxone and Dr. Kask entered into a development and investment agreement as previously communicated on June 10, 2020.
Cyxone is currently preparing regulatory applications to enable initiation of the phase 2 trial in a number of countries in Europe, a process that is facilitated by fast track programs that have been put in place by the authorities to expedite the development of Covid-19 treatments. The trial will be financed by existing company funds and proceeds from the previously announced directed share issues that are part of the agreement with Kalev Kask.
In parallel, Cyxone is progressing the development of Rabeximod as a potential treatment of rheumatoid arthritis. A six-month toxicological study has been completed, and data analysis is currently ongoing with the aim to communicate the top-line results later this fall.
"As we are currently experiencing one of the most severe pandemics in our lifetime, Cyxone has decided to expand the development of Rabeximod, aiming to prevent Covid-19 patients from developing severe symptoms and avoiding the need of intensive care treatment. A successful outcome of the Phase 2 study would open a range of opportunities for Rabeximod in the area of Covid-19 and other virally induced acute respiratory disorders," comments CEO Tara Heitner.
Tara Heitner, CEO
Tel: +46 70 781 88 08
211 22 Malmö, Sweden
Cyxone AB is a clinical stage biotech company with a portfolio of immunomodulating drugs for the treatment of autoimmune diseases such as multiple sclerosis (MS) and rheumatoid arthritis (RA). The company's drug portfolio is based on two technological pillars in the form of oral molecules and cyclotide-based drugs that inhibit key processes in the body's cells that are typically associated with various immune-related disorders. Cyxone's technologies have the potential to address an unmet need and provide new effective and safe medicines that can improve the quality of life for patients affected by autoimmune diseases. The company has two drug candidates, T20K for MS in clinical phase I program and Rabeximod for RA in clinical phase II program. Cyxone's Certified Adviser on the Nasdaq First North Growth Market is Mangold Fondkommission AB, +46 (0)8-503 015 50, email@example.com. www.cyxone.com
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