Armata Pharmaceuticals announced that the Cystic Fibrosis Foundation has purchased $3 million worth of the company’s common stock and that Innoviva subsidiary Innoviva Strategic Opportunities, which already held a significant number of shares in Armata, has invested a further $4 million. The funds will be used to support further development of the company’s lead candidate, AP-PA02, an inhaled phage cocktail.
The Phase 1b/2a SWARM-P.a. trial of AP-PA02 for the treatment of chronic P. aeruginosa lung infections in CF patients is currently recruiting. The CF Foundation had previously provided Armata a $5 million Therapeutics Development Award to fund that trial.
Armata CEO Brian Varnum commented, “We are pleased by this investment by the CF Foundation as we endeavor to develop new, innovative therapies for difficult-to-treat bacterial infections for cystic fibrosis. We could not ask for a better supporter of our research than the CF Foundation, and we look forward to continuing this mutually beneficial relationship.”
VP of Clinical Development Mina Pastagia said, “Difficult-to-treat pathogens such as Pseudomonas aeruginosa represent a significant source of morbidity and mortality among people with CF, highlighting the urgent need for more effective treatment alternatives. AP-PA02 is a multi-phage cocktail directed against Pseudomonas aeruginosa that offers enhanced potency and aid in preventing the development of bacterial resistance. We look forward to results from the SWARM-P.a. study as we work to quickly and efficiently bring new therapeutic options to market.”
Read the Armata Pharmaceuticals press release.
