{"id":503018,"date":"2021-06-11T08:06:27","date_gmt":"2021-06-11T12:06:27","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/biovie-announces-closing-of-acquisition-of-biopharma-assets-from-privately-held-neurmedix\/"},"modified":"2021-06-11T08:06:27","modified_gmt":"2021-06-11T12:06:27","slug":"biovie-announces-closing-of-acquisition-of-biopharma-assets-from-privately-held-neurmedix","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/biovie-announces-closing-of-acquisition-of-biopharma-assets-from-privately-held-neurmedix\/","title":{"rendered":"BioVie Announces Closing of Acquisition of BioPharma Assets from Privately Held NeurMedix"},"content":{"rendered":"<h2>\nCompany Expects to Commence Enrollment in Pivotal Phase 3 Alzheimer\u2019s Trial in Mid-2021<br \/>\n<\/h2>\n<div class=\"mw_release\">\n<p align=\"justify\">SANTA MONICA, Calif., June  11, 2021  (GLOBE NEWSWIRE) &#8212; BioVie Inc. (NASDAQ: BIVI) (&#8220;BioVie&#8221; or &#8220;Company&#8221;) today announced the closing of its previously announced acquisition of the biopharmaceutical assets of NeurMedix, Inc., a privately held clinical-stage pharmaceutical company. The acquired assets include NE3107, a selective inhibitor of inflammatory ERK signaling that reduces neuroinflammation. It is an orally administered first-in-class small molecule that inhibits inflammation-driven insulin resistance and major pathological inflammatory cascades with a novel mechanism of action. There is emerging scientific consensus that both inflammation and insulin resistance play fundamental roles in the development of Alzheimer\u2019s and Parkinson\u2019s Disease, and NE3107 could represent an entirely new medical approach to treating these devastating conditions affecting an estimated 6 million Americans suffering from Alzheimer\u2019s and 1 million from Parkinson\u2019s. The FDA recently authorized a pivotal US Phase 3 clinical trial for NE3107.<\/p>\n<p align=\"justify\">\u201cThe closing of this acquisition is a major milestone for BioVie, one that expands the Company\u2019s pipeline into several areas of unmet medical need with significant market potential,\u201d said Cuong V. Do, President &amp; CEO of BioVie. \u201cWe look forward to executing our clinical development plan and realizing the full potential of these important assets.\u201d<\/p>\n<p align=\"justify\">\n        <strong>About BioVie<\/strong>\n      <\/p>\n<p align=\"justify\">BioVie Inc. (NASDAQ: BIVI) is a clinical-stage company developing transformative therapies to overcome unmet medical needs in chronic debilitating conditions. In liver disease, the Company\u2019s Orphan drug candidate BIV201 (continuous infusion terlipressin), with FDA Fast Track status, is being evaluated in a US Phase 2 study for the treatment of refractory ascites with top-line results expected in early 2022. It is administered as a patent-pending liquid formulation. The active agent is approved in about 40 countries for related complications of advanced liver cirrhosis but is not available in the US or Japan. In neuro-degenerative disease, BioVie recently acquired the assets of NeurMedix Inc., including NE3107, an ERK inhibitor that selectively reduces neuroinflammation and insulin resistance. Both are drivers of Alzheimer\u2019s and Parkinson\u2019s diseases. NE3107 and related compounds are globally patented first-in-class small molecules with additional potential to treat certain cancers.<\/p>\n<p align=\"justify\">\n        <strong>Forward-Looking Statements<\/strong>\n      <\/p>\n<p align=\"justify\">\n        <em>This press release contains forward-looking statements, which may be identified by words such as &#8220;expect,&#8221; &#8220;look forward to,&#8221; &#8220;anticipate&#8221; &#8220;intend,&#8221; &#8220;plan,&#8221; &#8220;believe,&#8221; &#8220;seek,&#8221; &#8220;estimate,&#8221; &#8220;will,&#8221; &#8220;project&#8221; or words of similar meaning. Although BioVie Inc. believes such forward-looking statements are based on reasonable assumptions, it can give no assurance that its expectations will be attained. Actual results may vary materially from those expressed or implied by the statements herein due to the Company&#8217;s ability to successfully raise sufficient capital on reasonable terms or at all, available cash on hand and contractual and statutory limitations that could impair our ability to pay future dividends, our ability to\u00a0complete our clinical trials and to obtain approval for our product\u00a0candidates, to successfully defend potential future litigation, changes in local or national economic conditions<\/em>\u00a0<em>as well as various additional risks, many of which are now unknown and generally out of the Company&#8217;s control, and which are detailed from time to time in reports filed by the Company with the SEC, including quarterly reports on Form 10-Q, reports on Form 8-K and annual reports on Form 10-K. BioVie Inc. does not undertake any duty to update any statements contained herein (including any forward-looking statements), except as required by law.<\/em><\/p>\n<p>Contact:<\/p>\n<p>INVESTOR RELATIONS:<br \/><strong>Bruce Mackle<\/strong><br \/><em>Managing Director<\/em><br \/><strong>LifeSci Advisors, LLC<\/strong><br \/><a href=\"https:\/\/www.globenewswire.com\/Tracker?data=OmsDuTfalhe0wkTf91cCoExCdqDoKFoKKAJyFEAE8yPdT-5OTm3VIEWua6izf4hyiYpMk3lU5xbWBV5hGOjbYIAw9pEucMfh6bh854G0omhY9AKfelpSil6MVQ-tArrZ\" rel=\"nofollow noopener\" target=\"_blank\">bmackle@lifesciadvisors.com<\/a>\u00a0<\/p>\n<p>      <img loading=\"lazy\" decoding=\"async\" class=\"__GNW8366DE3E__IMG\" src=\"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODI1MjczOSM0MjM4MzQ1IzUwMDA3OTY2Ng==\" width=\"1\" height=\"1\" \/><br \/>\n      <br \/>\n      <img loading=\"lazy\" decoding=\"async\" class=\"__GNW8366DE3E__IMG\" src=\"https:\/\/ml.globenewswire.com\/release\/track\/db848f81-8f3c-4df1-a6e4-c462fd8e506c\" width=\"1\" height=\"1\" \/>\n    <\/div>\n<div class=\"mw_contactinfo\"><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Company Expects to Commence Enrollment in Pivotal Phase 3 Alzheimer\u2019s Trial in Mid-2021 SANTA MONICA, Calif., June 11, 2021 (GLOBE NEWSWIRE) &#8212; BioVie Inc. (NASDAQ: BIVI) (&#8220;BioVie&#8221; or &#8220;Company&#8221;) today announced the closing of its previously announced acquisition of the biopharmaceutical assets of NeurMedix, Inc., a privately held clinical-stage pharmaceutical company. The acquired assets include NE3107, a selective inhibitor of inflammatory ERK signaling that reduces neuroinflammation. It is an orally administered first-in-class small molecule that inhibits inflammation-driven insulin resistance and major pathological inflammatory cascades with a novel mechanism of action. There is emerging scientific consensus that both inflammation and insulin resistance play fundamental roles in the development of Alzheimer\u2019s and Parkinson\u2019s Disease, and NE3107 could represent an entirely new medical &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/biovie-announces-closing-of-acquisition-of-biopharma-assets-from-privately-held-neurmedix\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;BioVie Announces Closing of Acquisition of BioPharma Assets from Privately Held NeurMedix&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-503018","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.3 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>BioVie Announces Closing of Acquisition of BioPharma Assets from Privately Held NeurMedix - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/biovie-announces-closing-of-acquisition-of-biopharma-assets-from-privately-held-neurmedix\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"BioVie Announces Closing of Acquisition of BioPharma Assets from Privately Held NeurMedix - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"Company Expects to Commence Enrollment in Pivotal Phase 3 Alzheimer\u2019s Trial in Mid-2021 SANTA MONICA, Calif., June 11, 2021 (GLOBE NEWSWIRE) &#8212; BioVie Inc. (NASDAQ: BIVI) (&#8220;BioVie&#8221; or &#8220;Company&#8221;) today announced the closing of its previously announced acquisition of the biopharmaceutical assets of NeurMedix, Inc., a privately held clinical-stage pharmaceutical company. The acquired assets include NE3107, a selective inhibitor of inflammatory ERK signaling that reduces neuroinflammation. It is an orally administered first-in-class small molecule that inhibits inflammation-driven insulin resistance and major pathological inflammatory cascades with a novel mechanism of action. There is emerging scientific consensus that both inflammation and insulin resistance play fundamental roles in the development of Alzheimer\u2019s and Parkinson\u2019s Disease, and NE3107 could represent an entirely new medical &hellip; Continue reading &quot;BioVie Announces Closing of Acquisition of BioPharma Assets from Privately Held NeurMedix&quot;\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.marketnewsdesk.com\/index.php\/biovie-announces-closing-of-acquisition-of-biopharma-assets-from-privately-held-neurmedix\/\" \/>\n<meta property=\"og:site_name\" content=\"Market Newsdesk\" \/>\n<meta property=\"article:published_time\" content=\"2021-06-11T12:06:27+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODI1MjczOSM0MjM4MzQ1IzUwMDA3OTY2Ng==\" \/>\n<meta name=\"author\" content=\"Newsdesk\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Newsdesk\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/biovie-announces-closing-of-acquisition-of-biopharma-assets-from-privately-held-neurmedix\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/biovie-announces-closing-of-acquisition-of-biopharma-assets-from-privately-held-neurmedix\\\/\"},\"author\":{\"name\":\"Newsdesk\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#\\\/schema\\\/person\\\/482f27a394d4fda80ecb5499e519d979\"},\"headline\":\"BioVie Announces Closing of Acquisition of BioPharma Assets from Privately Held NeurMedix\",\"datePublished\":\"2021-06-11T12:06:27+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/biovie-announces-closing-of-acquisition-of-biopharma-assets-from-privately-held-neurmedix\\\/\"},\"wordCount\":581,\"image\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/biovie-announces-closing-of-acquisition-of-biopharma-assets-from-privately-held-neurmedix\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.globenewswire.com\\\/newsroom\\\/ti?nf=ODI1MjczOSM0MjM4MzQ1IzUwMDA3OTY2Ng==\",\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/biovie-announces-closing-of-acquisition-of-biopharma-assets-from-privately-held-neurmedix\\\/\",\"url\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/biovie-announces-closing-of-acquisition-of-biopharma-assets-from-privately-held-neurmedix\\\/\",\"name\":\"BioVie Announces Closing of Acquisition of BioPharma Assets from Privately Held NeurMedix - 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