{"id":464800,"date":"2021-03-25T06:03:04","date_gmt":"2021-03-25T10:03:04","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=464800"},"modified":"2021-03-25T06:03:04","modified_gmt":"2021-03-25T10:03:04","slug":"inozyme-pharma-reports-full-year-2020-financial-results-and-provides-business-highlights","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/inozyme-pharma-reports-full-year-2020-financial-results-and-provides-business-highlights\/","title":{"rendered":"Inozyme Pharma Reports Full Year 2020 Financial Results and Provides Business Highlights"},"content":{"rendered":"
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\n \u2013 Received Orphan Drug Designation by the U.S. Food and Drug Administration for INZ-701 for treatment of ABCC6 deficiency \u2013<\/em>
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\n \u2013 Expect to initiate Phase 1\/2 trials of INZ-701 for ENPP1 deficiency in the first half of the year and ABCC6 deficiency by mid-2021 \u2013<\/em>\n <\/p>\n

\n \u2013 Cash, cash equivalents, and investments expected to enable continued operations into second half of 2022 \u2013<\/em>\n <\/p>\n

BOSTON, March 25, 2021 (GLOBE NEWSWIRE) — Inozyme Pharma, Inc.<\/strong><\/a> (Nasdaq: INZY),<\/strong> a rare disease biopharmaceutical company developing novel therapeutics for the treatment of diseases of abnormal mineralization, today reported financial results for the full year ended December 31, 2020 and provided recent business highlights.<\/p>\n

\u201c2020 was a foundational year for Inozyme as we laid the groundwork to become a clinical stage company focused on the biology of mineralization. We have significantly expanded our team and operational footprint, ensuring we have the resources required to bring INZ-701 – our lead product candidate – into two planned first-in-human clinical studies in patients with ENPP1 deficiency and ABCC6 deficiency,\u201d said Axel Bolte, MSc, MBA, co-founder, president, and chief executive officer of Inozyme Pharma. \u201cENPP1 deficiency is a systemic, progressive, and chronic disease that occurs over a patient\u2019s lifetime, starting as early as fetal development, and spanning into adulthood, with devastating and often fatal effect. ABCC6 deficiency is a calcification disorder with an onset in adolescence and progressive worsening and high morbidity.\u201d<\/p>\n

Mr. Bolte continued, \u201cBased on discussions with U.S. and European regulatory authorities, we plan to initiate our Phase 1\/2 clinical trial in ENPP1 deficiency in the first half of 2021 and our Phase 1\/2 clinical trial in ABCC6 deficiency by mid-2021.\u201d<\/p>\n

\n Recent Business Highlights<\/strong>\n <\/p>\n