HOD HASHARON, Israel, May 27, 2020 /PRNewswire/ -- Wize Pharma, Inc. (OTCQB: WIZP), a clinical-stage biopharmaceutical company focused on the treatment of ophthalmic disorders, today announced that Bonus BioGroup (TASE: BONS.TA), a company in which Wize owns an 8.9% equity stake, will present its scientific findings for MesenCure in the treatment of life-threatening acute respiratory distress in COVID-19 and pneumonia patients at the International Society for Cell & Gene Therapy's (ISCT) annual meeting. ISCT Virtual Paris 2020 will be held on May 28-29, 2020 via video broadcast, with 1,800 scientists, physicians, and public opinion leaders from around the world attending.
According to Bonus Bio Group, MesenCure is specifically developed for the treatment of respiratory tract inflammations due to COVID-19, other viruses, bacterial infections, or exposure to other contaminants, that together represent a global market of over $43 billion annually.
At ISCT, Bonus will present findings from a recent preclinical study conducted on an animal model suffering from severe respiratory distress symptoms similar to those of COVID-19 patients. Treatment with MesenCure reduced fluid in the lungs by 47% compared to untreated subjects, and significantly increased blood lymphocyte counts, which play a key role in fighting viruses. According to Bonus BioGroup, these results indicate the ability of MesenCure to relieve acute pneumonia and to alleviate life-threatening lymphopenia in COVID-19 patients.
"At the ISCT conference, Bonus BioGroup will present its findings to the world's cell therapy industry and academic leaders. The data on MesenCure's effect on lung function in a preclinical model is compelling and we are pleased Bonus BioGroup can share their findings with key opinion leaders in the field," stated Noam Danenberg, CEO of Wize.
About Bonus BioGroup
Bonus BioGroup is an Israeli biotechnology company whose highly innovative, proprietary therapeutic platform for healing severe bone defects is strongly positioned to break into the $8 billion global bone rehabilitation market. The company's BonoFill™ solution which employs novel tissue engineering technology for growing live human bone grafts has been selected by the Israeli Ministry of Science as a technology that will change the world forever, and it is already achieving outstanding success rates in Phase I/II clinical trials. The BonoFill™ solution is a revolutionary approach for personalized treatment of bone defects using live bone grafts created from the patient's own cells. Patients undergo a simple liposuction procedure to harvest fat tissue, which is then engineered into bone using Bonus' proprietary technology. Upon injection into the bone defect, the bone graft grows, connects and matures to become healthy new autologous bone, while reducing the risk of rejection.
About Wize Pharma
Wize Pharma, Inc. is a clinical-stage biopharmaceutical company currently focused on the treatment of ophthalmic disorders, including DES. Wize has in-licensed certain rights to purchase, market, sell and distribute a formula known as LO2A, a drug developed for the treatment of DES, and other ophthalmological illnesses, including CCh and Sjögren's syndrome (Sjögren's).
LO2A is currently registered and marketed by its inventor in Germany and Switzerland for the treatment of DES, in Hungary for the treatment of DES, CCh and Sjögren's and in the Netherlands for the treatment of DES and Sjögren's. Wize's strategy involves engaging local or multinational distributors to handle the distribution of LO2A. In November 2018, Wize completed a Phase II randomized, double-blind, placebo-controlled trial of LO2A for patients with CCh, which demonstrated a statistical significance result, using a mixed model with repeated measures (MMRM). Wize is currently conducting a Phase IV study for LO2A for DES in patients with Sjögren's, expected to publish results in third fiscal quarter of 2020.
Forward Looking Statements
Wize cautions you that statements in this press release that are not a description of historical fact are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by the use of words referencing future events or circumstances such as "expect," "intend," "plan," "anticipate," "believe," and "will," among others. For example, when we discuss that the study is designed to demonstrate the clinical efficacy of LO2A in DES patients with Sjögren's syndrome, the expected timing of the release of topline data from the Phase IV trial, and our belief that the data resulting from the Phase IV trial, combined with the with the positive results from our Phase II CCh study, will create a strong application package for an IND with the U.S. Food and Drug Administration, we are using a forward-looking statement. Because such statements are subject to risks and uncertainties, actual results may differ materially from those expressed or implied by such forward-looking statements. These forward-looking statements are based upon Wize's current expectations and involve assumptions that may never materialize or may prove to be incorrect. Actual results and the timing of events could differ materially from those anticipated in such forward-looking statements as a result of various risks and uncertainties, which include, without limitation, the possibility that we will not consummate the transactions with Bonus and the investors or, if we do consummate such transactions, that we will not receive the benefits we planned to achieve from such transactions; the possibility that we will not be able to successfully operate our joint venture with Cannabics Pharmaceuticals, Inc.; our needs for additional financing; our dependence on a single compound, LO2A and on the continuation of our license to commercialize LO2A; our inability to expand our rights under our license of LO2A; the initiation, timing, progress and results of our trials and product candidate development efforts; our ability to advance LO2A into clinical trials or to successfully complete our preclinical studies or clinical trials; our receipt of regulatory approvals for LO2A, and the timing of other regulatory filings and approvals; the clinical development, commercialization and market acceptance of LO2A; our ability to establish and maintain corporate collaborations; the implementation of our business model and strategic plans for our business and product candidates; the scope of protection we are able to establish and maintain for intellectual property rights covering LO2A and our ability to operate our business without infringing the intellectual property rights of others; estimates of our expenses, future revenues, and capital requirements; competitive companies, technologies and our industry; and statements as to the impact of the political and security situation in Israel on our business. More detailed information about the risks and uncertainties affecting Wize is contained under the heading "Risk Factors" included in Wize's Annual Report on Form 10-K filed with the Securities and Exchange Commission (the "SEC") on March 30, 2020, and in other filings that Wize has made and may make with the SEC in the future. You are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date on which they were made. Wize does not undertake any obligation to update such statements to reflect events that occur or circumstances that exist after the date on which they were made, except as may be required by law.
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