{"id":519765,"date":"2021-07-29T07:33:45","date_gmt":"2021-07-29T11:33:45","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/landos-biopharma-reports-second-quarter-2021-financial-results-and-provides-business-updates\/"},"modified":"2021-07-29T07:33:45","modified_gmt":"2021-07-29T11:33:45","slug":"landos-biopharma-reports-second-quarter-2021-financial-results-and-provides-business-updates","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/landos-biopharma-reports-second-quarter-2021-financial-results-and-provides-business-updates\/","title":{"rendered":"Landos Biopharma Reports Second Quarter 2021 Financial Results and Provides Business Updates"},"content":{"rendered":"
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\n Following the recent positive End-of-Phase 2 meeting with the FDA, Landos initiated global pivotal\u00a0<\/em>
\n Phase 3 clinical trial site feasibility studies of omilancor in ulcerative colitis (UC)<\/em>\n <\/p>\n

\n Initiated enrollment of Phase 2 trial of omilancor in Crohn\u2019s Disease (CD);<\/em>
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\n topline data expected in 1H 2022<\/em>\n <\/p>\n

\n Initiated enrollment of Phase 1b trial of NX-13 in UC;<\/em>
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\n topline data expected in 1H 2022<\/em>\n <\/p>\n

\n Entered into non-dilutive strategic agreement with LianBio, including $18 million upfront and an up to $200 million commitment in future milestone payments,
to develop and commercialize omilancor and NX-13 for China and select Asian markets<\/em>\n <\/p>\n

\n Ended Q2 2021 with all programs on track and in a strong financial position, including $115 million in cash and operating runway extending until the end of 2023<\/em>\n <\/p>\n

\n Awarded a $3 million grant from the National Institute of Diabetes and Digestive and Kidney Diseases (NIDDK) to study the clinical efficacy and mechanism of action of omilancor in CD patients<\/em>\n <\/p>\n

BLACKSBURG, Va., July 29, 2021 (GLOBE NEWSWIRE) — Landos Biopharma, Inc (NASDAQ: LABP), a late-clinical-stage biopharmaceutical company utilizing its LANCE\u00ae<\/sup> Advanced A.I. platform to develop novel oral therapeutics for patients with autoimmune diseases, today announced financial results for the second quarter ended June 30, 2021 and provided business updates.<\/p>\n

\u201cWe made substantial progress during the second quarter to advance omilancor, our novel once-daily, oral, gut-restricted candidate, toward global pivotal Phase 3 clinical trials for mild-to-moderate ulcerative colitis patients,\u201d said Dr. Josep Bassaganya-Riera, Ph.D., Chairman, President, and CEO of Landos. \u201cDuring the second quarter, we initiated patient enrollment in two additional clinical trials, each of which we expect will deliver promising topline data during the first half of 2022. We also strengthened our capital position and operating runway with a non-dilutive strategic agreement with LianBio, including $18 million received upfront and an up to $200 million commitment in future milestone payments, to develop and commercialize omilancor and NX-13 for Greater China and select Asian markets. In addition, we look forward to collaborating with the Mount Sinai School of Medicine and New York Gastroenterology Associates on an upcoming trial of omilancor in CD funded with a $3 million NIH grant, underscoring omilancor\u2019s potential as a transformative therapy for patients living with CD and other autoimmune diseases.\u201d<\/p>\n

\u201cFurthermore, our proprietary LANCE\u00ae<\/sup> A.I. platform continues to help accelerate our drug development efforts by uncovering new pathways and prioritizing associated new precision medicine candidates based on their ability to modulate specific types of immune responses,\u201d added Dr. Josep Bassaganya-Riera. \u201cIn short, the Landos team remains laser-focused on building significant value for all shareholders with omilancor and each of our 17 product candidates in our portfolio of oral disease-modifying precision medicine drugs that target new immunometabolic mechanisms.\u201d<\/p>\n

\n Recent Highlights and Upcoming Milestones:<\/strong>\n <\/p>\n

\n Omilancor <\/strong>
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\n Omilancor is a novel, once-daily, oral, gut-restricted LANCL2 agonist in development for the treatment of ulcerative colitis (UC), Crohn\u2019s disease (CD), Eosinophilic Esophagitis (EoE) and in topical cream formulation for psoriasis and atopic dermatitis. These 5 indications alone have the potential of targeting combined prescription market volumes that are expected to grow to $157 billion by 2029.\u00a0Landos has a strong patent position of 48 patents on omilancor in 43 countries with a long patent life.<\/em><\/em>\n <\/p>\n

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\n Omilancor – UC<\/em>
\n <\/strong>\n <\/p>\n