Seelos Therapeutics Reports Q3 2019 Pipeline Update

NEW YORK, Nov. 08, 2019 (GLOBE NEWSWIRE) — Seelos Therapeutics, Inc. (Nasdaq: SEEL), a clinical-stage biopharmaceutical company, today released its third quarter pipeline update.Seelos received a Notice of Allowance from the United States Patent and Trademark Office (USPTO) for Seelos’ U.S. Patent Application for SLS-005 (trehalose) for treating Friedreich Ataxia (FA).The company received a grant from Team Sanfilippo Foundation for funding of studies of SLS-005 in Sanfilippo syndrome type A and B patients and the separate expanded access study for Sanfilippo type C and D as well as type A and B patients who do not meet the trial entry criteria.Seelos announced the Investigational New Drug Submission and Acceptance from FDA for SLS-005 for Mucopolysaccharidosis type III (Sanfilippo syndrome).The Seelos staff and board of directors rang the opening bell at the Nasdaq Marketsite in Times Square on August 12th.The company raised $6.7 million in a registered direct offering with certain institutional investors.Update on Pipeline Development
Seelos is initiating its Phase I studies to further evaluate the pharmacokinetics (PK), pharmacodynamics (PD), and drug-drug interactions (DDI) of SLS-002 (intranasal racemic ketamine) in healthy volunteers this quarter and preliminary data from such studies are expected in Q1 2020.Seelos amended its agreement with Vyera Pharmaceuticals which removes the requirement to conduct a Phase III trial for SLS-002 and converts the one-time cash payment obligation otherwise owed to Vyera for commencement of the Phase III trial to a series a cash and stock payments over the next 9 months.The company completed a Type C meeting (face to face) with the FDA to discuss the potential design of a Proof of Concept (PoC) study for SLS-002. Based on feedback from its Type C meeting with FDA, Seelos plans to conduct a Phase II PoC study in patients with Major Depressive Disorder (MDD) at Imminent Risk of Suicide.The company is seeking scientific advice from EMA to initiate a clinical study in Sanfilippo syndrome patients in EU.
Seelos began IND enabling work this quarter on SLS-008 which it plans to develop for pediatric esophagitis, an orphan disease and is exploring other potential target indications.Forward-Looking Statements
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