CHAPPAQUA, NY, February 06, 2018 /24-7PressRelease/ -- A2A Pharmaceuticals Inc., a biotechnology company committed to the advancement of innovative scientific research and new therapeutic agents, announced today completion of over $3 million financing with CPS Capital Group Pty Ltd ("CPS Capital").
Edward Painter, Co-founder & CEO of A2A said, "With many thanks to the investors and the extremely capable team at CPS Capital, we will allocate the proceeds of this financing towards advancing novel therapeutics into the clinic for the patients that need them driving shareholder value over the next 18 months as well as longer term."
A2A Pharmaceuticals also announced formation of a 50/50 strategic partnership with Biomea Healthcare named Biomea Fusion. The partnership focuses on the AO-001 program targeting Leukemia and AA-001 program targeting LpxC for infectious diseases. This collaboration will excel several A2A novel drug candidates into the clinic over the next 18 - 24 months. This is one of several collaborations with major pharmaceutical companies for which A2A is designing novel therapeutics.
"A2As Research & Development team, founded by Dr. Matthew Welsch and headed by Dr. Brendan Kelly, has done a tremendous job identifying and developing therapeutics for novel targets that are highly correlated to disease progression," said Dr. Sotirios Stergiopoulos, Chairman of the Board. "The Biomea team adds tremendous experience and great bench strength to A2As efforts and will significantly help propel the company from an R&D organization into a vertically integrated biotechnology company." Added Dr. Brendan Kelly, "Biomea has extensive knowledge and clinical experience in both of the collaboration targets and will be responsible for the IND filing and clinical progress of both programs."
Jason Peterson, CEO and Director of CPS Capital said "We are proud to be A2A's Corporate Advisor and are very excited about the prospects of A2A. I would like to congratulate A2A with this successful capital raise. It really is a credit to A2As team and shows that money is available to back companies that are run by credible and professional teams similar to what Sotiros, Ed & Brendan have built."
A2A continues the in-house development of its other pipeline assets, YAP- TEAD, STING & IDO1 programs for solid tumors as well as the Tuberculosis Program. With its unique computational design platform SCULPT, A2A has spearheaded innovations in fragment-based drug design over the past two years. A2A uniquely develops target characteristics into the systematic construction of therapeutic candidates for high unmet needs in cancer as well as infectious diseases.
Dr. Andrew Dean will join A2A's Board. He is a medical oncologist and Head of Cancer Services at St. John of God Subiaco Hospital, one of Australia's biggest private Oncology centers housing an extensive cancer research program. He is recognized as an innovator in cancer therapeutics and has been the recipient of the Australian Prime Ministers Award for small business community excellence. Dr. Dean states "A2A Pharmaceuticals has developed an extremely novel and efficient technique for drug design that dramatically reduces time and cost of producing better classes of drugs against a whole range of life-threatening conditions. They have leapt ahead of other approaches for reaching this goal."
About A2A Pharmaceuticals, Inc,
A2A Pharmaceuticals Inc. was co-founded by Dr. Matthew Welsch, Dr. Sridhar Vempati & Edward Painter and is committed to the development of new therapeutic agents that serve highly unmet patient needs under the leadership of Dr. Brendan Kelly, Head of Research & Development. Our focus areas are oncology and drug-resistant bacterial infections. Dr. Sotirios Stergioploulos, Chief Medical Officer of Ipsen, is the Chairman of the Board of Directors. A2A Oncology programs apply a proprietary therapeutic design methodology called SCULPT, towards inhibiting protein-protein interactions. Pharmacological targets of this class have important roles in a range of cancer types, but have been traditionally challenging to inhibit. SCULPT enables the design of novel ligands specifically to match the unique topological features of this target class. Targets for A2A antibiotic programs were selected based on their broad-spectrum applicability to gram-negative bacterial species, as well as novelty to circumvent rapid target-associated resistance. A unique bioinformatic approach was incorporated into the SCULPT process to yield candidates with "antibiotic-like" properties, in order to maximize the chances of activity and minimize drug efflux.
About CPS Capital Pty Ltd.
CPS Capital and its CEO & Director, Jason Peterson, based in Perth, Western Australia, specialize in raising capital in a multitude of different markets, for unique and innovative, small to mid-size companies that have the potential to provide investors with above average returns. The companies CPS Capital raises money for, provides ongoing corporate advice to and structuring for, may be either listed or unlisted.
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