Innoviva, Inc.

LOS ANGELES, CA, USA I May 18, 2023 I ImaginAb, Inc., a global biotechnology company focused on the development of radiopharmaceuticals for the diagnosis and treatment of cancer, today announced lead selection and progression to IND-enabling studies of IAB56, a minibody designed to target the αvβ6 integrin for use as Lu-177 radiopharmaceutical therapy in solid tumors. In parallel, the DLL3 targeting program, IAB57, will further assess several leads in the coming quarter prior to initiation of IND-enabling studies later in 2023. ImaginAb's discovery team developed IAB56 and IAB57 at its Los Angeles R&D site via screening and selection of high affinity minibodies and cys-dibodies with demonstrated therapeutic efficacy in preclinical models. The αvβ6 integrin is a pan-cancer antigen implicated in a broad range of solid tumors including ovarian, pancreatic, breast, oral and liver cancer amongst others. The target shows expression which is highly specific to malignant diseases with very little or no expression in healthy tissues, making it an attractive candidate for targeted radiotherapy of solid cancers. Delta-like ligand 3 (DLL3) is highly selective for SCLC and neuroendocrine tumors, with minimal to no expression in healthy tissues. Given the rapid recurrence of SCLC following existing therapeutic option, there remains a significant need to improve prognosis for patients suffering from this disease. Ian Wilson, Chief Executive Officer of ImaginAb, said: "The ImaginAb team has experience in the discovery, development, and manufacture of radiopharmaceuticals. Focusing our discovery team on the identification and progression of new radiopharmaceutical therapy agents based on our proprietary platform of biologics was a natural step for ImaginAb. We are excited to announce these new developments and look forward to sharing news on these and other candidate molecules as new milestones are met." About ImaginAb ImaginAb, Inc. is a biotechnology company focused on developing radiopharmaceutical imaging and therapeutic agents. ImaginAb engineer's antibody fragments called minibodies and cys-diabodies that maintain the exquisite specificity of full-length antibodies while remaining biologically inert. ImaginAb is advancing a pipeline of minibodies against both oncology and immunology targets. The Company is backed by top tier venture capital firms and strategic corporate firms including Adage Capital Partners, the Cycad Group, Norgine Ventures, Innoviva, Jim Pallotta of the Raptor Group, the Parker Institute for Cancer Immunotherapy, and Merck (MSD) Pharma. ImaginAb's vision is to transform patient care, and help people live better and healthier lives. For more information visit www.imaginab.com . SOURCE: ImaginAb

IAB56 RPT agent is designed to target integrin αvβ6, a receptor over-expressed in a broad range of solid cancers underserved by current cancer therapies. IAB57 RPT agent is designed to target DLL3, a target over-expressed in cancer tissues and relevant in several cancers, most notably Small-Cell Lung Cancer (SCLC) LOS ANGELES, May 18, 2023 /PRNewswire/ -- ImaginAb, Inc., a global biotechnology company focused on the development of radiopharmaceuticals for the diagnosis and treatment of cancer, today announced lead selection and progression to IND-enabling studies of IAB56, a minibody designed to target the αvβ6 integrin for use as Lu-177 radiopharmaceutical therapy in solid tumors. In parallel, the DLL3 targeting program, IAB57, will further assess several leads in the coming quarter prior to initiation of IND-enabling studies later in 2023. ImaginAb's discovery team developed IAB56 and IAB57 at its Los Angeles R&D site via screening and selection of high affinity minibodies and cys-dibodies with demonstrated therapeutic efficacy in preclinical models. The αvβ6 integrin is a pan-cancer antigen implicated in a broad range of solid tumors including ovarian, pancreatic, breast, oral and liver cancer amongst others. The target shows expression which is highly specific to malignant diseases with very little or no expression in healthy tissues, making it an attractive candidate for targeted radiotherapy of solid cancers. Delta-like ligand 3 (DLL3) is highly selective for SCLC and neuroendocrine tumors, with minimal to no expression in healthy tissues. Given the rapid recurrence of SCLC following existing therapeutic option, there remains a significant need to improve prognosis for patients suffering from this disease. Ian Wilson, Chief Executive Officer of ImaginAb, said: "The ImaginAb team has experience in the discovery, development, and manufacture of radiopharmaceuticals. Focusing our discovery team on the identification and progression of new radiopharmaceutical therapy agents based on our proprietary platform of biologics was a natural step for ImaginAb. We are excited to announce these new developments and look forward to sharing news on these and other candidate molecules as new milestones are met." About ImaginAb ImaginAb, Inc. is a biotechnology company focused on developing radiopharmaceutical imaging and therapeutic agents. ImaginAb engineer's antibody fragments called minibodies and cys-diabodies that maintain the exquisite specificity of full-length antibodies while remaining biologically inert. ImaginAb is advancing a pipeline of minibodies against both oncology and immunology targets. The Company is backed by top tier venture capital firms and strategic corporate firms including Adage Capital Partners, the Cycad Group, Norgine Ventures, Innoviva, Jim Pallotta of the Raptor Group, the Parker Institute for Cancer Immunotherapy, and Merck (MSD) Pharma. ImaginAb's vision is to transform patient care, and help people live better and healthier lives. For more information visit . Logo - SOURCE ImaginAb, Inc.

MARINA DEL REY, Calif., May 11, 2023 /PRNewswire/ -- Armata Pharmaceuticals, Inc. (NYSE American: ARMP) ("Armata" or the "Company"), a biotechnology company focused on pathogen-specific bacteriophage therapeutics for antibiotic-resistant and difficult-to-treat bacterial infections, today announced financial results for its first quarter ended March 31, 2023, and provided a corporate update. First Quarter 2023 and Recent Developments: Announced positive topline results from the SWARM-P.a. Phase 1b/2a clinical trial, which evaluated AP-PA02 in cystic fibrosis (CF) patients with chronic pulmonary Pseudomonas aeruginosa infections, supporting progression into Phase 2b; Announced further clinical progression of AP-PA02 with the first patient dosed in the Phase 2 non-cystic fibrosis bronchiectasis (NCFB) study; Advanced AP-SA02 with dosing of the second patient cohort in the Phase 1b/2a Staphylococcus aureus bacteremia study; Continued AP-SA02 prosthetic joint infection study start-up activities; and Closed $30 million convertible credit agreement with Innoviva Strategic Opportunities LLC, a wholly owned subsidiary of Innoviva, Inc., Armata's largest shareholder. "Armata continues to make progress exploring the potential of phage therapy with our two therapeutic candidates targeting Pseudomonas aeruginosa and Staphylococcus aureus in four high-need indications," stated Dr. Brian Varnum, Chief Executive Officer of Armata. "We recently completed our first randomized clinical trial, the first step to delivering on our commitment to bring this novel therapy through the rigorous trials required for regulatory approval and patient access. The positive data from our Phase 1b/2a study of AP-PA02 in cystic fibrosis patients demonstrated inhaled AP-PA02 to be well tolerated. The pharmacokinetics and pharmacodynamics of AP-PA02 provided valuable insights into the dose and schedule required to drive a meaningful decrease in sputum density of P. aeruginosa. Building on these results, we are currently evaluating AP-PA02 in our ongoing Phase 2 clinical trial in non-cystic fibrosis bronchiectasis". "Armata is also advancing its second lead phage product, AP-SA02, in a Phase 1b/2a study in Staphylococcus aureus bacteremia, with financial support from the U.S. Department of Defense. AP-SA02 offers a potential benefit to patients with difficult-to-treat S. aureus bacteremia. In parallel, the Company plans to study AP-SA02 in prosthetic joint infections, another indication characterized by difficult-to-treat S. aureus infection". "In January we announced a $30 million secured convertible credit agreement with Innoviva. This investment allows us to continue to execute on our strategy of advancing phage therapeutics, including building a new state-of-the-art advanced biologics manufacturing facility required to bring phage to market. The commitment to building this infrastructure is a central component of our dedicated effort to advance phage therapy and positions Armata to deliver on multiple value creating milestones". First Quarter 2023 Financial Results Grant Revenue. The Company recognized grant revenue of approximately $0.8 million for the three months ended March 31, 2023, which represents Medical Technology Enterprise Consortium ("MTEC")'s share of the costs incurred for the Company's AP-SA02 program for the treatment of Staphylococcus aureus bacteremia. The Company expects to receive $16.3 million in grant funding from MTEC administered by the U.S. Department of Defense and the Defense Health Agency and Joint Warfighter Medical Research Program. The Company recognized approximately $1.2 million of revenue in the comparable period in 2022. Research and Development. Research and development expenses for the three months ended March 31, 2023 were approximately $9.6 million as compared to approximately $8.0 million for the comparable period in 2022. The Company continues to invest in clinical trial and personnel related expenses associated with its primary development programs. General and Administrative. General and administrative expenses for the three months ended March 31, 2023 were approximately $2.5 million as compared to approximately $2.0 million for the comparable period in 2022. The increase was primarily related to expenses related to the increased legal and professional expenses. Loss from Operations. Loss from operations for the three months ended March 31, 2023 was $(11.3) million as compared to a loss from operations of approximately $(8.8) million for the comparable period in 2022. Cash and Equivalents. As of March 31, 2023, Armata held approximately $25.1 million of unrestricted cash and cash equivalents, as compared to $14.9 million as of December 31, 2022. As of May 5, 2023, there were approximately 36.1 million shares of common stock outstanding. About Armata Pharmaceuticals, Inc. Armata is a clinical-stage biotechnology company focused on the development of pathogen-specific bacteriophage therapeutics for the treatment of antibiotic-resistant and difficult-to-treat bacterial infections using its proprietary bacteriophage-based technology. Armata is developing and advancing a broad pipeline of natural and synthetic phage candidates, including clinical candidates for Pseudomonas aeruginosa, Staphylococcus aureus, and other pathogens. Armata is committed to advancing phage with drug development expertise that spans bench to clinic including in-house phage specific GMP manufacturing. Forward Looking Statements This communication contains "forward-looking" statements, including, without limitation, statements related to Armata's bacteriophage development programs, Armata's ability to set up or operate R&D and manufacturing facilities, Armata's ability to meet expected milestones, Armata's future success or failure, Armata's ability to be a leader in the development of phage-based therapeutics, Armata's expected receipt of grant funding, and statements related to the timing and results of clinical trials, including the anticipated results of clinical trials of AP-PA02 and AP-SA02, and Armata's ability to develop new products based on natural bacteriophages and synthetic bacteriophages. Any statements contained in this communication that are not statements of historical fact may be deemed to be forward-looking statements. These forward-looking statements are based upon Armata's current expectations. Forward-looking statements involve risks and uncertainties. Armata's actual results and the timing of events could differ materially from those anticipated in such forward-looking statements as a result of these risks and uncertainties, which include, without limitation, risks related to the ability of Armata's lead clinical candidates, AP-PA02 and AP-SA02, to be more effective than previous candidates; that the top line results are indicative of the final data; Armata's ability to expedite development of AP-PA02 and AP-SA02; Armata's ability to advance its preclinical and clinical programs and the uncertain and time-consuming regulatory approval process; Armata's ability to develop products based on bacteriophages and synthetic phages to kill bacterial pathogens; the Company's expected market opportunity for its products; Armata's ability to sufficiently fund its operations as expected, including obtaining additional funding as needed; and any delays or adverse events within, or outside of, Armata's control, caused by the ongoing COVID-19 pandemic. Additional risks and uncertainties relating to Armata and its business can be found under the caption "Risk Factors" and elsewhere in Armata's filings and reports with the SEC, including in Armata's Annual Report on Form 10-K, filed with the SEC on March 16, 2023, and in its subsequent filings with the SEC. Armata expressly disclaims any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in Armata's expectations with regard thereto or any change in events, conditions or circumstances on which any such statements are based. Media Contacts: At Armata: Pierre Kyme Armata Pharmaceuticals, Inc. [email protected] 310-665-2928 Investor Relations: Joyce Allaire LifeSci Advisors, LLC [email protected] 212-915-2569 SOURCE Armata Pharmaceuticals, Inc.