AzurRx BioPharma (NASDAQ: AZRX), a company specializing in the development of non-systemic, recombinant therapies for gastrointestinal (“GI”) diseases, today announced its entry into an exclusive worldwide licensing agreement with First Wave Bio Inc. for the use of its patented and proprietary oral and rectal formulations of niclosamide for the treatment of immune checkpoint inhibitor-associated colitis (“ICI-AC”) and COVID-19 GI infections. “The acquisition of rights to niclosamide for these indications gives us an opportunity to strategically expand our existing pipeline and pursue multiple GI indications in the oncology and infectious disease arenas,” said James Sapirstein, president and CEO of AzurRx. “We are impressed with First Wave’s Phase 1b/2a clinical data, strong IP and patent position, and the significant unmet medical needs and market opportunities addressed by these two assets. We believe these niclosamide formulations could offer significant advantages over other currently available treatments. They are not systemically absorbed, potentially allowing for higher local GI concentrations of drug delivery and avoiding steroid-related immunosuppressant complications.”
In addition, the company announced that, in conjunction with its exclusive agreement with First Wave, it has entered into a securities purchase agreement with a single health care-focused institutional investor, under which the company agreed to sell approximately $8.0 million of Series C 9.00% Convertible Junior Preferred Stock in a registered direct offering and concurrent private placement. The company will also issue to the investor unregistered warrants to purchase up to an aggregate of 10,666,668 shares of common stock. H.C. Wainwright & Co. is acting as exclusive placement agent for the offering.
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About AzurRx BioPharma Inc.
AzurRx BioPharma is a biopharmaceutical company specialized in the research and development of non-systemic biologics for gastrointestinal disorders. The company is focused on the development of its lead drug candidate, MS1819. AzurRx is currently conducting two Phase 2 clinical trials of MS1819: the OPTION 2 monotherapy trial, and the Combination therapy trial, consisting of MS1819 in conjunction with porcine-derived pancreatic enzyme replacement therapy, the current standard of care. The company is headquartered in Delray Beach, Florida with clinical operations in Hayward, California. For more information, visit the company’s website at www.AzurRx.com.
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