SAN DIEGO, Jan. 8, 2015 /PRNewswire/ -- Ansun Biopharma, Inc., a San Diego-based biotech company, is pleased to announce that it has entered into an agreement with the United States Attorneys Office resolving an investigation of Ansun. The Company has cooperated with the United States Attorneys Office in San Diego to uncover misconduct by its former CEO and CFO that occurred over 4 years ago. Both individuals were removed from their positions with the Company in 2011 shortly after the Company became aware of the investigation. The Company's former CEO has since pled guilty to a misdemeanor and its former CFO entered into an agreement with the government, which resulted in a dismissal of any charges against her.
In October of 2011, Ansun replaced its then Board of Directors with a new slate of Board members and appointed new management, including Dr. Ronald Moss, who has been Ansun's CEO since then. Ansun has made significant progress in the development of therapies for diseases caused by common viruses such as influenza and parainfluenza. "We continue to work with leaders in the medical community to develop therapies for unmet medical need. Our investigational drugs for influenza and parainfluenza are in late stage clinical development. It is very clear based on the current influenza epidemic that more therapies are urgently needed and Ansun is committed to developing these therapies for patients," said Dr. Moss. In September of 2012, Ansun received a contract from the Biomedical Advanced Research and Development Authority in the amount of $26,500,000 to continue development of Fludase®, its lead compound for treatment of the flu. Ansun's pipeline consists of Fludase®, and Paradase™ both of which are in human clinical trials.
Fludase®, a broad spectrum investigational antiviral biologic has completed phase 2 studies and is ready for the last stage of clinical development. In studies conducted with the CDC, Fludase has shown broad activities against many strains of influenza including the circulating strains of the current influenza epidemic and the H5N1 strain of bird flu, which has a significantly high mortality rate in infected humans.
Its experimental biologic Paradase is also in human clinical trials. "With Paradase, we are currently enrolling a phase 2 study in cancer and transplant patients infected with a deadly virus called parainfluenza," stated Dr. Moss. Infection with this virus in these patients with suppressed immune systems is high and there are no current treatments available. "In addition to enrolling the phase 2 study, Ansun has provided Paradase for parainfluenza to over 70 dying transplant and leukemic patients under emergency use requests from physicians across the United States," explained Dr. Moss.
"We are very pleased that the investigation has been resolved. It never changed our focus, but now with the investigation behind us, we feel a renewed energy to develop novel and effective tools to provide the U.S. government and the public potential therapies for the defense against viruses that affect public health and welfare," said Dr. Moss.
SOURCE Ansun Biopharma, Inc.