NEW YORK, NY -- (Marketwired) -- 07/01/15 -- Abeona Therapeutics, Inc. (NASDAQ: ABEO)
- Financings of approximately $40 million completed to advance rare disease product development
- Abeona Therapeutics joins Russell Global, Russell 3000® and Russell MicroCap® Indexes
Abeona Therapeutics, Inc. (NASDAQ: ABEO), a biopharmaceutical company focused on developing and delivering gene therapy and plasma-based products for severe and life-threatening rare diseases, today announced additional financing of $4.6 million through warrant exercises, with a total of approximately $40 million raised -- $26 million in Q2 2015 -- with financings from leading institutional investors and acquisition proceeds since December 2014 to advance the company's rare disease product pipeline.
"We're pleased with the continued support of investors towards advancing our product pipeline and platform, led by ABO-101 (sc AAV9 NAGLU) for mucopolysaccharidosis (MPS) III B or Sanfilippo syndrome targeted to commence clinical trials in 2015," stated Steven Rouhandeh, Executive Chairman. "As we continue to build a gene therapy leader in rare diseases, we have the products, technology platform, team and resources to meet and exceed our development milestones."
About Abeona: Abeona Therapeutics, Inc. is focused on developing and delivering gene therapy and plasma-based products for severe and life-threatening rare diseases. Abeona's lead program is an adeno-associated virus (AAV)-based gene therapy for Sanfilippo syndrome (MPS IIIA and IIIB) in collaboration with patient advocate groups, researchers and clinicians. Clinical trials for Sanfilippo types A and B are anticipated to begin in 2015. The Company recently licensed an AAV-based gene therapy program in juvenile Batten disease (JBD) from the University of Nebraska Medical Center; and licensed an AAV-based gene therapy program for Fanconi anemia (FA) disorder and other rare blood diseases using CRISPR/Cas9 gene editing from the University of Minnesota. In addition, the company is pursuing two additional proprietary platforms, Salt Diafiltration (SDF™) Process and Polymer Hydrogel Technology (PHT™), and is active in the development and commercialization of human plasma-derived therapeutics, including its proprietary alpha-1 protease inhibitor, SDF Alpha™. For more information, visit www.abeonatherapeutics.com.
This press release contains certain statements that are forward-looking within the meaning of Section 27a of the Securities Act of 1933, as amended, and that involve risks and uncertainties. These statements include, without limitation, development and internationalization of clinical programs, information regarding the future performance of the combined company, the outlook on medical needs, future pipeline expectations, management plans for the Company, the anticipated closing of the transaction, and general business outlook. These statements are subject to numerous risks and uncertainties, including but not limited the satisfaction of closing conditions for the transaction, the parties' ability to successfully integrate and operate the new company, and achieve expected synergies and other benefits; the impact of competition; the ability to develop products and technologies; the ability to achieve or obtain necessary regulatory approvals; the impact of changes in the financial markets and global economic conditions; and other risks as may be detailed from time to time in the Company's Annual Reports on Form 10-K and other reports filed by the Company with the Securities and Exchange Commission. The Company undertakes no obligations to make any revisions to the forward-looking statements contained in this release or to update them to reflect events or circumstances occurring after the date of this release, whether as a result of new information, future developments or otherwise.
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Abeona Therapeutics, Inc.
Source: Abeona Therapeutics