Brings total awards from BARDA to $110 million for development of broad SARS-CoV-2 and Influenza multispecifics, with potential funding of up to $205 million if all options are executed
Development work is based on ModeX proprietary MSTAR technology that incorporates multiple antibody binding sites into a single molecule
WESTON, Mass., Oct. 07, 2024 (GLOBE NEWSWIRE) -- ModeX Therapeutics Inc., an OPKO Health, Inc. (NASDAQ:OPK) company, announces it has been awarded $35 million of additional funding under an existing contract with the Biomedical Advanced Research and Development Authority (BARDA), part of the Administration for Strategic Preparedness and Response at the U.S. Department of Health and Human Services (HHS).
This funding will support the development of a second novel multispecific antibody to SARS-CoV-2 from preclinical through Phase 1 trials, as well as preclinical work on gene-based expression of multispecific antibodies to SARS-CoV-2 including mRNA and/or DNA vectors. In addition, ModeX will begin development of influenza multispecifics with gene and/or protein delivery modalities by initiating the second phase of BARDA funding through activation of a $16 million option.
The funding and advancement of these programs will further explore ModeX's proprietary MSTAR platform to prepare for outbreaks and respond rapidly to emerging viral threats. Together, this funding brings the total support awarded to ModeX to $110 million out of $205 million if all options are executed.
"A rapid response with broadly protective antibodies is crucial to effectively contain outbreaks of viruses like influenza or SARS-CoV-2. By design, our multispecific platform represents a potential countermeasure that could swiftly provide coverage against such public health threats," said Dr. Gary Nabel, President and Chief Executive Officer of ModeX.
MSTAR is a flexible multivalent, multispecific antibody design platform that allows the incorporation of multiple independent antibody binding sites into a single molecule, thus expanding their therapeutic potential while enabling rapid responses to emerging and re-emerging viral pathogens, including SARS-CoV-2 and influenza. These antibodies also have the potential to confer protection in immune-suppressed, cancer and other patients with suboptimal responses to vaccination.
Despite the seasonal availability of vaccines, influenza-related disease and COVID remain significant public health issues. Multispecific antibodies have the potential for wider breadth of coverage to enable protection against multiple strains of a pathogen and be more resilient against pathogen evolution. Gene-based antibody expression represents a new method with potential to significantly reduce manufacturing costs and allow faster pivoting for new ...
