AzurRx BioPharma Receives $2 Million in Proceeds from Exercise of Warrants
AzurRx – BROOKLYN, N.Y., Jan. 16, 2018 (GLOBE NEWSWIRE) — AzurRx BioPharma, Inc. (NASDAQ:AZRX) (“AzurRx” or the “Company”), a company specializing in the development of non-systemic, recombinant therapies for gastrointestinal diseases, announced today that it has received proceeds of approximately $2.04 million through the exercise of a total of 851,987 outstanding common stock purchase warrants.
The exercise transactions were negotiated with certain warrant holders as a means of raising additional working capital and were completed under the terms of warrant repricing agreements, copies of which were included as exhibits to the Company’s Form Current Report on 8-K, filed with the Securities and Exchange Commission on January 5, 2018.
“We appreciate the support our warrant holders have shown the Company,” said Thijs Spoor, President and CEO of AzurRx. “We believe 2018 will be an instrumental year for AzurRx, as we continue to build value with our MS1819 and AZX1101 programs.”
About AzurRx BioPharma, Inc.:
AzurRx BioPharma, Inc. (NASDAQ:AZRX) is engaged in the research and development of non-systemic biologics for the treatment of patients with gastrointestinal disorders. MS1819 recombinant lipase for exocrine pancreatic insufficiency is the Company’s lead development program, and additional earlier stage research is being conducted for the prevention of hospital-acquired infections. The Company is headquartered in Brooklyn, NY, with scientific operations based in Langlade, France. Additional information on the company can be found at www.azurrx.com.
About MS1819, an Acid Stable Lipase:
MS1819-SD is in development for exocrine pancreatic insufficiency (EPI), a condition characterized by deficiency of the exocrine pancreatic enzymes, including lipase, resulting in the inability to digest food properly, or maldigestion. The deficiency in lipase can be responsible for greasy diarrhea, fecal urge and weight loss.
MS1819-SD, supplied as an oral non-systemic biologic capsule, is a recombinant enzyme that is derived from the yarrowia lipolytica lipase, and unlike the standard of care, does not contain any animal products. In an animal model, the in-vivo activity of MS1819 was superior to the activity seen in-vivo using the standard of care porcine pancreatic extracts. A previous study has found that MS1819 was well tolerated in humans with no serious adverse events.
Information about the trial can be found on the following website:
About AZX1101, An Enzymatic Combination for Prevention of Hospital Infections:
AZX1101 is a β-lactamase enzyme combination product of bacterial origin for the prevention of hospital-acquired infections and antibiotic-associated diarrhea (“AAD”) by resistant bacterial strains induced by parenteral administration of several antibiotic classes, including the β-lactams. AZX1101 is composed of a molecular backbone linked to several distinct enzymes that break up individual classes of antibiotic molecules. Currently in preclinical development, AzurRx anticipates filing an IND for AZX1101 in 2018.
This press release contains forward-looking statements within the meaning of the Private Securities Litigations Reform Act of 1995. Such statements include, but are not limited to, any statements relating to our product development programs and any other statements that are not historical facts. Such statements involve risks and uncertainties that could negatively affect our business, operating results, financial condition and stock price. Factors that could cause actual results to differ materially from management’s current expectations include those risks and uncertainties relating to the development and testing of our drug candidates, the regulatory approval process, our ability to secure additional financing, the protection of our patent and intellectual property, the success of strategic agreements and relationships, and the potential commercialization of any product we may successfully develop. We expressly disclaim any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in our expectations or any changes in events, conditions or circumstances on which any such statement is based, except as required by law.