Vasomune Receives a US $2.8 Million PRMRP Grant from the US Department of Defense to Develop AV-001 for the Treatment of ALI/ARDS of Any Cause, Including COVID-19
TORONTO, Ontario – (Business Wire) – August 25, 2020 – Vasomune Therapeutics, an innovative private biotechnology company, announced today it has received a Peer-Reviewed Medical Research Program (PRMRP) grant award effective August 1, 2020 for US $2.8 million from the US Department of Defense (DoD) for the development AV-001 for the treatment of COVID-19-associated acute lung injury and acute respiratory distress syndrome (ARDS).
“We were delighted to hear the news of the PRMRP award and would like to thank the DoD for their support of the therapeutic development program for AV-001,” said Douglas A. Hamilton, President and CEO of Vasomune. “The PRMRP review process is extremely competitive and our high peer-reviewed score is an important external validation of the potential for our investigational medicine and the opportunity it represents to make a significant impact on patients with unmet medical need.”
Vasomune’s therapeutic development program for AV-001 received an application score of “Outstanding” or 1.4 on a scale of 1 to 5 through a rigorous two-tiered peer-review system in which 16.5% of overall invited applicants receive recommendations for funding. Vasomune’s grant was received from PRMRP at the DoD office of the Congressionally Directed Medical Research Programs (CDMRP). Vasomune is planning a Coronavirus Treatment Acceleration Program (CTAP) meeting with FDA and transition to clinical development of AV-001 in the fall of 2020.
AV-001 is an investigational medicine designed to mimic the natural ligand, Angiopoietin-1, and activate the Tie2-angiopoietin signaling axis to restore endothelial stability and normal vascular function. The virus that causes COVID-19 attacks pulmonary endothelial cells that contribute to the initiation and propagation of COVID-19-associated ARDS by altering vessel barrier integrity, promoting a coagulative state, inducing vascular inflammation (endotheliitis) and mediating inflammatory cell migration. After the initial phase of viral infection, approximately 30% of hospitalized patients with COVID-19 develop severe disease with progressive lung damage which can lead to vascular leakage, organ failure and death. Vasomune is codeveloping AV-001 for the treatment of moderate-to-severe COVID-19 and pathogen-induced ARDS with its strategic partner, AnGes, Inc., a Japanese biopharmaceutical company. Prior to the onset of the coronavirus pandemic, the combined annual incidence of ARDS was approximately 370,000 patients per year in the US and EU with an average mortality rate of 40%. At present, there are no effective therapeutics to treat ARDS.
About Vasomune Therapeutics, Inc.
Vasomune Therapeutics, Inc. is a private early stage biopharmaceutical company developing the next generation of medicines to harness the body’s ability to defend against illness. The company is transitioning in the near term to the clinic with a novel therapeutic approach to COVID-19 that involves targeting a signaling molecule in the vasculature responsible for regulating barrier defense and promoting endothelial stability. Vascular dysfunction is associated with the pathology of several disease states, including moderate-to-severe COVID-19, influenza-associated ARDS, acute lung injury (ALI), acute kidney injury (AKI), hemorrhagic shock, sepsis and stroke. Vasomune’s head office and laboratory is located in Toronto, Canada and their US office is situated in San Mateo, CA, US. For more information about the company and its product candidates, please visit www.vasomune.com.
The views expressed in this press release are those of the author and may not reflect the official policy or position of the Department of the Army, Department of Defense or the US Government.
Vasomune Media Relations
Source: Vasomune Therapeutics, Inc.