Histogen to Explore Strategic Alternatives
05 Luglio 2023 - 10:05PM
Histogen Inc. (NASDAQ: HSTO), a clinical-stage therapeutics company
focused on developing potential first-in-class clinical and
preclinical small molecule pan-caspase and caspase selective
inhibitors that protect the body’s natural process to restore
immune function, today announced that it has completed a review of
its business, including the status of programs, resources and
capabilities, and has decided to pause further development of its
programs and commence a process to explore strategic alternatives
with the intent to enhance shareholder value. Histogen has engaged
Roth Capital Partners, LLC, to act as a strategic advisor in this
process.
Potential strategic alternatives that may be
explored or evaluated as part of this process include an
acquisition, merger, reverse merger, other business combination,
sale of assets, financing alternatives, licensing, or other
strategic transactions involving the company. There can be no
assurance of a transaction, a successful outcome of these efforts,
or the form or timing of any such outcome. The company does not
intend to make any further disclosures regarding the strategic
review process unless and until a specific course of action is
approved by the company’s Board of Directors or until the company
determines that further disclosure is appropriate.
“We remain excited about emricasan given its
broad potential to treat both viral and bacterial infections as a
more generalized host-based immunotherapeutic treatment without the
risk of generating resistance,” said Steven J. Mento, Ph.D.,
President and Chief Executive Officer. “However, we have paused our
development activities in order to preserve our remaining resources
and extend our cash runway to explore strategic alternatives that
have the potential to benefit shareholders” added Dr. Mento.
About Emricasan
Emricasan is an orally available pan-caspase
inhibitor designed to reduce the activities of human caspases,
which are enzymes that mediate inflammation and apoptosis.
Emricasan has completed extensive toxicology testing including
chronic toxicology and all required carcinogenicity testing.
Emricasan has previously been shown to be well tolerated in
multiple clinical studies involving approximately 1,000 subjects
employing multiple doses ranging from 1 mg to 500 mg orally and has
been safely dosed chronically for up to two years in
immunosuppressed patients. Emricasan was tested in a Phase 1 study
in mild symptomatic COVID-19 patients to assess safety,
tolerability, and preliminary efficacy. Five of five patients who
completed treatment with emricasan had a complete resolution of the
symptoms most commonly associated with mild COVID-19 by day seven
compared to zero of six on placebo. Four of five patients on
emricasan compared with one of six patients on placebo were virus
negative by day fourteen. The mean antibody index against COVID was
6.98 in emricasan treated patients compared to 5.32 in those
receiving placebo at the end of the study on day forty-five.
About Histogen Inc.
Histogen Inc. is a clinical-stage therapeutics
company focused on developing potential first-in class clinical and
preclinical small molecule pan-caspase and caspase selective
inhibitors that protect the body’s natural process to restore
immune function. Our pipeline includes emricasan, CTS-2090 and
other proprietary caspase inhibitors. We believe that emricasan has
the potential to treat infections in a different way; by protecting
the competence of the body’s immune system thereby restoring the
body’s natural process to combat invading organisms. By focusing on
optimizing the immune response, we believe that emricasan can be a
viable option for physicians to treat and cure certain infectious
diseases without the risk of generating resistance. CTS-2090 and
other proprietary selective small molecule inhibitors of caspase-1
are designed for the treatment of certain inflammatory diseases.
For more information, please visit www.histogen.com.
Forward-Looking Statements
This press release contains forward-looking
statements within the meaning of the “safe harbor” provisions of
the Private Securities Litigation Reform Act of 1995 and other
Federal securities laws. These statements include, without
limitation, implied and express statements relating to: Histogen
conducting a comprehensive review of strategic alternatives focused
on enhancing shareholder value; exploring potential strategic
alternatives that may include, but are not limited to, an
acquisition, merger, reverse merger, other business combination,
sale of assets, financing alternatives, licensing or other
strategic transactions involving the company; the completion of
such a review process; and the potential success of and development
of Histogen’s pipeline of products, including emricasan, CTS-2090
and other proprietary caspase inhibitors. Words such as
“anticipate,” “believe,” “continue,” “could,” “designed,”
“endeavor,” “estimate,” “expect,” “intend,” “may,” “might,” “plan,”
“potential,” “predict,” “project,” “seek,” “should,” “target,”
“preliminary,” “will,” “would” and similar expressions are intended
to identify forward-looking statements. The express or implied
forward-looking statements included in this press release are only
predictions and are subject to a number of risks, uncertainties and
assumptions, including, without limitation: volatility and
uncertainty in the capital markets for biotechnology companies;
availability of suitable third parties with which to conduct
contemplated strategic transactions; whether Histogen will be able
to pursue a strategic transaction, or whether any transaction, if
pursued, will be completed on attractive terms; whether Histogen’s
cash resources will be sufficient to fund Histogen’s foreseeable
and unforeseeable operating expenses and capital expenditure
requirements; and the future development and potential for
viability of each of the Histogen’s programs and pipeline products.
The foregoing review of important factors that could cause actual
events to differ from expectations should not be construed as
exhaustive and should be read in conjunction with statements that
are included herein and elsewhere, including those risks discussed
in our filings with the Securities and Exchange Commission. Except
as otherwise required by law, Histogen disclaims any intention or
obligation to update or revise any forward-looking statements,
which speak only as of the date hereof, whether as a result of new
information, future events, or circumstances or otherwise.
CONTACT: Susan A.
KnudsonExecutive Vice President, COO & CFO Histogen Inc.
ir@histogen.com
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