BOCA RATON, Fla., May 09, 2024 (GLOBE NEWSWIRE) -- First Wave BioPharma, Inc., (NASDAQ: FWBI), (“First Wave BioPharma” or the “Company”), a clinical-stage biopharmaceutical company specializing in the development of targeted, non-systemic therapies for gastrointestinal (GI) diseases, today announced that in honor of Celiac Disease Awareness Month in May, it will partner with Celiac Journey, a celiac disease patient advocacy organization, to share an awareness digital display on the Nasdaq Tower in Times Square on Thursday, May 16, at 4:25 p.m. ET. The digital display will also be shown at night as part of the international “Shine a Light on Celiac Disease” initiative to illuminate famous landmarks in green. First Wave BioPharma will also host a photo event at the Nasdaq Market Site featuring celiac disease advocates and experts who will share their lived experiences with celiac disease. “Celiac disease is a topical issue at the forefront of many people’s lives,” said James Sapirstein, Chairman and Chief Executive Officer of First Wave BioPharma. “Often overlooked is the lack of treatment options for this debilitating chronic autoimmune disorder. We are proud to partner with the father-son duo, Jon and Jax Bari, of Celiac Journey, to raise awareness, advocate for research and extend support to the estimated 3.3 million individuals in the U.S. who are impacted by celiac disease. As a company dedicated to developing innovative therapies for GI diseases, we are motivated by the commitment of advocates to provide a meaningful benefit for those with celiac disease who struggle to maintain a strict gluten-free diet and experience drastic symptoms and medical complications as a result.” Jax Bari, age 11 and Co-founder of Celiac Journey, said, “Food insecurity happens every day for celiacs because of the constant threat of cross contact with gluten, 80% of foods have gluten in them, the high price of gluten-free food, and gluten is not required to be labeled on packaged foods in the U.S. I'm determined to make a difference to create a world where people like me can eat without fear. I’m grateful to First Wave BioPharma and Nasdaq for helping us shine a light on celiac disease this May.” “As a parent of a child living with celiac disease, I understand firsthand the daily challenges and fears associated with this condition,” said Jon Bari, Co-founder of Celiac Journey. “The need for increased research funding and the development of alternative treatments beyond a strict gluten-free diet cannot be overstated. Until there’s a treatment other than a gluten-free diet, we believe that requiring the labeling of gluten grains will have the greatest impact on improving quality of life and safety for celiacs given life’s daily activities that involve food.” About Celiac Disease Celiac disease is a chronic, hereditary autoimmune and inflammatory disease triggered by gluten consumption. Celiac disease is characterized by damage to the lining of the small intestine, causing malabsorption, gastrointestinal dysfunction, and debilitating symptoms. Over the course of a lifetime, untreated or poorly managed celiac disease is often associated with deteriorating general health, multiple serious intestinal and extra-intestinal medical complications, and increased morbidity and mortality. Celiac disease is a global disease and affects approximately 1% of the population worldwide and is increasing in prevalence with improved diagnostic tools and improved awareness. About Celiac JourneyCeliac Journey, founded by the Bari family, advocates for increased government funding for celiac disease research and requiring the labeling of gluten as a top 10 Major Food Allergen on all packaged foods in the U.S., just as gluten must be declared on all food labels in 87 other countries. Motivated by their son Jax's diagnosis with celiac disease, the organization strives to support advancements in treatments, aiming for a future where 3.3 million Americans with celiac like Jax can eat without fear. For more information visit: www.celiacjourney.com. About First Wave BioPharma, Inc. First Wave BioPharma is a clinical-stage biopharmaceutical company specializing in the development of targeted, non-systemic therapies for gastrointestinal (GI) diseases. The Company is currently advancing a therapeutic development pipeline with multiple late-stage clinical programs built around three proprietary technologies: latiglutenase, a Phase 3-ready, potentially first-in-class, targeted, oral biotherapeutic for celiac disease; capeserod, a selective 5-HT4 receptor partial agonist being developed for gastroparesis; and adrulipase, a recombinant lipase enzyme designed to enable the digestion of fats and other nutrients in cystic fibrosis and chronic pancreatitis patients with exocrine pancreatic insufficiency. First Wave BioPharma is headquartered in Boca Raton, Florida. For more information visit www.firstwavebio.com. Forward-Looking StatementsThis press release may contain certain statements relating to future results which are forward-looking statements. It is possible that the Company’s actual results and financial condition may differ, possibly materially, from the anticipated results and financial condition indicated in these forward-looking statements, depending on factors including whether any financing or licensing transaction may be completed, completed with different terms, in an untimely manner, or not at all; whether the Company will be able to realize the expected benefits of its acquisition of ImmunogenX; the Company’s ability to integrate the assets and contemplated commercial operations acquired from ImmunogenX into the Company’s business; whether results obtained in preclinical and nonclinical studies and clinical trials will be indicative of results obtained in future clinical trials; whether preliminary or interim results from a clinical trial will be indicative of the final results of the trial; whether the Company will be able to maintain compliance with Nasdaq’s continued listing criteria and the effect of a delisting from Nasdaq on the market for the Company’s securities; the size of the potential markets for the Company’s drug candidates and its ability to service those markets; the effects of the First Wave Bio, Inc. acquisition, the related settlement and their effect on the Company’s business, operating results and financial prospects; and the Company’s current and future capital requirements and its ability to raise additional funds to satisfy its capital needs. Additional information concerning the Company and its business, including a discussion of factors that could materially affect the Company’s financial results are contained in the Company’s Annual Report on Form 10-K for the year ended December 31, 2022, under the heading “Risk Factors,” as well as the Company’s subsequent filings with the Securities and Exchange Commission. All forward-looking statements included in this press release are made only as of the date of this press release, and we do not undertake any obligation to publicly update or correct any forward-looking statements to reflect events or circumstances that subsequently occur or of which we hereafter become aware. For more information: First Wave BioPharma, Inc. 777 Yamato Road, Suite 502 Boca Raton, FL 33431 Phone: (561) 589-7020 info@firstwavebio.com Media contact: Russo PartnersDavid Schull or Liz Phillips(347) 956-7697david.schull@russopartnersllc.comelizabeth.phillips@russopartnersllc.com
