Microbion Corporation Receives Additional Funding Support from the Cystic Fibrosis Foundation to Speed Advancement of Inhaled Pravibismane

BOZEMAN, Mont. and VANCOUVER, BC, Feb. 22, 2021 /PRNewswire/ -- Microbion Corporation of Bozeman, MT, and Microbion Pharma Corp. of Vancouver, BC ("Microbion") today announced that it has received additional funding from the Cystic Fibrosis Foundation to speed the advancement of inhaled pravibismane for the treatment of cystic fibrosis (CF) related pulmonary infections. This new funding of up to $1.8 million will directly support IND-enabling toxicology studies and is in addition to $5.6 million previously awarded by the Foundation, for a combined total of up to $7.4 million.

"We are excited that the CF Foundation continues to support Microbion's efforts toward bringing inhaled pravibismane forward to the clinic," said Karim Lalji, Chairman and CEO of Microbion Pharma Corp. "The Foundation's support underscores their commitment to assist companies with valuable, novel therapeutics that potentially improve the quality of life of patients with CF. We look forward to working closely with the Foundation to advance the IND-enabling toxicology studies, targeted for completion in Q2 2021."

Pravibismane is the first in a new class of anti-infective drugs structurally unrelated to other clinically utilized antibiotics. With a novel mechanism of action, pravibismane functions as a microbial bioenergetic inhibitor, shutting down bacterial ATP production and halting all cellular metabolism. In the lab, pravibismane exhibits broad-spectrum, potent, and persistent antimicrobial activity against CF-relevant pathogens including carbapenem-resistant and multidrug-resistant Pseudomonas aeruginosa, as well as other multidrug-resistant pathogens. Importantly, pravibismane also exhibits potent activity against the biofilms that these pathogens establish, which have been implicated in the chronic persistence of CF pulmonary infections. Microbion's inhaled pravibismane program is currently also receiving funding support from CARB-X (Combating Antibiotic-Resistant Bacteria Biopharmaceutical Accelerator) as previously announced.

About Microbion
Microbion is a clinical-stage biopharmaceutical company developing pravibismane as the first product in a new class of anti-infective drugs for the targeted treatment of antibiotic-resistant and difficult to treat infections. Microbion has completed two clinical trials of pravibismane in treatment of diabetic foot ulcer infections (DFI) and orthopedic implant-related infections in which pravibismane was found to be safe and well-tolerated. An inhaled pravibismane formulation is in late pre-clinical development for the treatment of CF-related lung infections and for which FDA Orphan drug designation was granted. In addition, Microbion plans to pursue a separate inhaled pravibismane development program in non-tuberculous mycobacteria (NTM) lung disease.  Microbion Corporation has previously closed a Series A financing of US$25M from GHS Fund (Quark Venture LP and GF Securities). 

For more information visit: www.microbioncorp.com.

Safe Harbor Statement
Certain of the statements made in this press release are forward-looking, such as those, among others, relating to the success of clinical development of pravibismane and preparation for potential commercialization. These statements are subject to risks and uncertainties that could cause actual results and events to differ materially from those anticipated, including, but not limited to, risks and uncertainties related to: our ability to enroll patients in our clinical trials at the pace that we project; the size and growth of the potential markets for pravibismane or any future product candidates and our ability to serve those markets; our ability to obtain and maintain regulatory approval of pravibismane or any future product candidates; and our expectations regarding the potential safety, efficacy or clinical utility of pravibismane or any future product candidates. Actual results or developments may differ materially from those projected or implied in these forward-looking statements. Microbion Corporation disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

CARB-X funding for the pravibismane project is sponsored by Cooperative Agreement Number IDSEP160030 from ASPR/BARDA and by awards from Wellcome Trust and Germany's Federal Ministry of Education and Research. The content is solely the responsibility of the authors and does not necessarily represent the official views of CARB-X or any of its funders.

CONTACT INFORMATION
Investor/Media Contact:
Edmond Lee
Director, Business Operations
Microbion Corp.
E: [email protected]

SOURCE Microbion