BERWYN, Pennsylvania–(BUSINESS WIRE)–Virpax® Pharmaceuticals, Inc. (“Virpax” or the “Company”) (NASDAQ: VRPX), a company specializing in the development of non-addictive product candidates for pain management as well as PTSD, CNS disorders and antiviral indications, has extended its exclusive license agreement for AnQlar™ with Nanomerics Ltd., granting Virpax the global development and commercialization rights.
Virpax has ended in vitro, ex-vivo (human mucous cells), and in vivo (rats) AnQlar studies that demonstrated that AnQlar inhibited SARS-CoV-2 and influenza viral replication in animals at levels greater than those found in human nasal passages. No adverse effects were observed during the studies. Animal studies have also demonstrated decreased virus levels in the brain tissue of animals. Virpax expects enabling studies for Investigational New Drugs (INDs) to be completed by the fourth fiscal quarter of 2022 and plans to pursue an over-the-counter drug approval pathway.
“We would like to express our gratitude to our partner, Nanomerics, for working with the company to restructure our original agreement, exchanging North American rights with an agreement that grants us global rights and replacing all commercial and royalties through a profit-sharing agreement. This assists us in AnQlar’s transition to potential over-the-counter designation by the FDA,” said Christopher M. Chipman, Chief Financial Officer and Secretary of Virpax.
“Securing global rights to AnQlar is consistent with our global business model and places the company in a stronger position to pursue strategic alliances or commercial opportunities for this product candidate,” commented Anthony P. Mack, President and Chief Executive Officer. General of Virpax.
AnQlar (GCPQ) is a positively charged chitosan derivative that electrostatically binds to negatively charged viruses such as SARS-CoV-2 and influenza. AnQlar can prevent coronavirus from binding to the cell surface ACE-2 receptor that mediates viral infection. This molecule could have a double mechanism of action: viricidal properties and inhibition of virus entry into cells via the ACE-2 receptor.
AnQlar is a mucoadhesive polymer with an extended nasal dwell time. Applying AnQlar to the nasal mucosa can provide a barrier against viral infection by inhibiting the binding of viruses. Preliminary in vitro, ex-vivoand in vivo data demonstrate that AnQlar inhibits SARS-CoV-2 replication and can inhibit viral spread as well as viral brain load.
Nanomerics Ltd is a specialty pharmaceutical company based in London, UK. Nanomerics spun out of University College London and was founded to commercialize its biocompatible polymer technologies for drug delivery and other applications. Nanomerics’ proprietary technology is based on cutting-edge know-how and scientific leadership in the field of polymer nanotechnology. Nanomerics creates unique and differentiated patented pharmaceutical actives, backed by high quality science. For example, the Company’s Molecular Envelope Technology (MET) is a unique patented biocompatible polymer that offers a step change in the bioavailability of target tissues. Nanomerics’ MET won first prize in the UK’s Royal Society of Chemistry Emerging Technologies competition. Founding scientists Prof. Ijeoma F. Uchegbu and Prof. Andreas G. Schätzlein developed the technology at the Universities of Strathclyde and Glasgow and more recently at UCL Faculty of Pharmacy. For more information, please visit www.nanomerics.com.
About Virpax Pharmaceuticals
Virpax is developing branded product candidates for the non-addictive management of pain and neurological disorders using its proprietary technologies to optimize and target drug delivery. Virpax is initially seeking FDA approval for its three patented drug delivery platforms. Epoladerm™ is a topical spray film formulation of diclofenac being developed to manage the pain of osteoarthritis. Probudur™ is a long-acting single injection liposomal bupivacaine formulation being developed to manage postoperative pain. Envelta™ is an intranasal enkephalin formulation based on molecular envelope technology (MET) being developed for the management of cancer and non-cancer pain, as well as post-traumatic stress disorder (PTSD) under the name of PES200. MET technology is also used in AnQlar™, a candidate for inhibiting viral replication caused by influenza or SARS-CoV-2. Virpax recently acquired worldwide rights to VRP324, a product candidate for the nasal delivery of a pharmaceutical grade cannabidiol (CBD) for the management of epilepsy in children (a rare pediatric disease) and adults. For more information, please visit www.virpaxpharma.com.
This press release contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934 and the Private Securities Litigation Reform Act, as amended, including those relating to planned clinical trials by the Society. , product development, clinical and regulatory timelines, market opportunities, competitive position, possible or anticipated future results of operations, business strategies, potential growth opportunities and other statements of a predictive nature. These forward-looking statements are based on current expectations, estimates, forecasts and projections about the industry and markets in which we operate, as well as management’s current beliefs and assumptions.
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