BEIJING and CAMBRIDGE, Mass., Aug. 31, 2023 /PRNewswire/ -- CANbridge Pharmaceuticals, Inc. ("CANbridge," stock code 1228.HK), a global biopharmaceutical company, with a foundation in China, committed to the research, development and commercialization of transformative therapies for rare diseases and oncology indications, today announced its financial results for the six months ended June 30, 2023 plus corporate updates.
"On the product front, it had been a very productive first half year for CANbridge. We achieved multiple data and regulatory milestones that we believe will continue to drive both near- and long-term value for our stockholders," said James Xue, Ph.D., CANbridge founder, chairman, and CEO. "Regarding new data, we have encouraging updates on several programs, notably CAN106 for treating paroxysmal nocturnal hemoglobinuria (PNH), as well as CAN203, our gene therapy candidate for SMA. On the regulatory front, we are pleased to have received approval for LIVMARLI® (maralixibat/CAN108) in China for treating Cholestatic Pruritus in patients with the rare liver disease Alagille syndrome (ALGS). Livmarli is the first and only approved product in China for the disease, thus marked a pivotal milestone for CANbridge, given the sizeable commercial opportunity and the potential to expand the Livmarli label to cover multiple other rare liver disease indications. In the second half year, we look forward to achieving continuous progress in developing our pipeline of leading therapies for rare diseases."
Upcoming Milestones
Financial Highlights
Recent Highlights
Hunterase (CAN101), an enzyme replacement therapy for treating MPS II, also known as Hunter syndrome, has been on the "First National List of Rare Diseases" since May 2018.
LIVMARLI is an oral, minimally absorbed reversible inhibitor of the ileal bile acid transporter (IBAT) being developed for treating rare cholestatic liver diseases. CANbridge has the exclusive rights to develop, commercialize, and under certain conditions, manufacture LIVMARLI in Greater China.
CAN106 is a novel, long-acting monoclonal antibody for treating complement-mediated diseases, including PNH, myasthenia gravis (MG) and various other complement-mediated diseases that are targeted by anti-C5 antibodies. PNH has been included on the "First National List of Rare Diseases" in China since May 2018.
CAN008, a glycosylated CD95-Fc fusion protein being developed for the treatment of glioblastoma multiforme (GBM).
CAN103 is an ERT for treating Gaucher Disease (GD) and GD has been included on the "First National List of Rare Diseases" in China since May 2018.
In Gene Therapy, CANbridge advanced its world-class gene therapy platform, focusing on adeno-associated virus (AAV) as a gene delivery vehicle, with potential as a one-time durable therapy for many genetic diseases. Programs in Fabry disease and SMA have been included on the "First National List of Rare Diseases" since May 2018.
CANbridge will also host a conference call to discuss the 2023 interim results and recent corporate progress. To register for the English session, please click here. To register for the Chinese session, please click here. This webcast will be English, and translation will be provided on the Chinese channel.
About CANbridge Pharmaceuticals Inc.
CANbridge Pharmaceuticals Inc. (HKEX:1228) is a global biopharmaceutical company, with a foundation in China, committed to the research, development and commercialization of transformative therapies for rare disease and rare oncology. CANbridge has a differentiated drug portfolio, with 4 approved drugs and a pipeline of 10 assets, targeting prevalent rare disease and rare oncology indications that have unmet needs and significant market potential. These include Hunter syndrome and other lysosomal storage disorders, complement-mediated disorders, hemophilia A, metabolic disorders, rare cholestatic liver diseases and neuromuscular diseases, as well as glioblastoma multiforme. The CANbridge Next-Generation Innovation and Process Development Facility is developing novel, potentially curative, gene therapies for rare genetic diseases, including Pompe disease, Fabry disease, spinal muscular atrophy (SMA) and other neuromuscular conditions, and collaborates with world-leading researchers and biotech companies. Animal data from the SMA gene therapy was presented in 2022 at the American Society for Gene and Cell Therapy (ASGCT), the European Society for Gene and Cell Therapy (ESGCT) and the World Muscle Congress. CANbridge global partners include: Apogenix, GC Pharma, Mirum, Wuxi Biologics, Privus, UMass Chan Medical School, the University of Washington School of Medicine and Scriptr Global.
For more on CANbridge Pharmaceuticals Inc., please go to: www.canbridgepharma.com.
Forward-Looking Statements
The forward-looking statements made in this article relate only to the events or information as of the date on which the statements are made in this article. Except as required by law, we undertake no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise, after the data on which the statements are made or to reflect the occurrence of unanticipated events. You should read this article completely and with the understanding that our actual future results or performance may be materially different from what we expect. In this article, statements of, or references to, our intentions or those of any of our Directors or our Company are made as of the date of this article. Any of these intentions may alter in light of future development.