Panoptes Pharma GmbH

WALTHAM, Mass., Aug. 12, 2021 (GLOBE NEWSWIRE) -- EyeGate Pharmaceuticals, Inc. (NASDAQ: EYEG), (“EyeGate” or the “Company”), a clinical-stage company developing and commercializing products for treating inflammatory and immune diseases with a focus on the eye and certain systemic diseases, today reported its financial results for the quarter ended June 30, 2021 and provided an update on recent corporate and operational activities. “In the second quarter of 2021 we made significant advancements to build our business and our clinical initiatives remain on track as we enter this new phase of continued growth,” said Brian Strem, Ph.D., President and Chief Executive Officer of EyeGate. “We took important steps to advance our pipeline programs for PP-001 and OBG, and we look forward to leveraging new opportunities to expand the therapeutic potential of our platform addressing a diverse range of ocular surface and systemic diseases.” Recent Business Highlights: Pipeline UpdatesOcular Surface Franchise Systemic IndicationsOther administration routes for PP-001 are in development for systemic indications, including oral delivery. Planning for preclinical bioavailability and toxicology studies are currently underway to prepare for clinical trials in patients with autoimmune diseases. Corporate Updates Second Quarter 2021 Financial Results Research and development expenses were $1.440 million for the three months ended June 30, 2021, compared to $0.631 million for the three months ended June 30, 2020. The increase of $0.809 million was primarily due to the Panoptes acquisition, including development costs for PP-001 and personnel related costs, partially offset by a decrease in costs related to OBG. General and administrative expenses were $1.306 million for the three months ended June 30, 2021, compared to $1.090 million for the three months ended June 30, 2020. The increase of $0.216 million was primarily due to increases in professional fees and personnel related costs. Other income, net was $0.276 million for the for the three months ended June 30, 2021, compared to $0.004 million for the three months ended June 30, 2020. During the second quarter of 2021, the Company recorded a gain of $0.278 million due to the full forgiveness of loan funds received under the Paycheck Protection Program. Cash and cash equivalents were $3.663 million as of June 30, 2021, compared to $1.186 million as of December 31, 2020. The increase in cash and cash equivalents was mainly due to net proceeds of $7.989 million received from the completion of a private placement in January of 2021, partially offset by cash outflows to fund the Company’s operations. About EyeGate EyeGate is a clinical-stage pharmaceutical company developing and commercializing products for treating inflammatory and immune diseases with a focus on the eye and certain systemic diseases. PP-001, EyeGate’s lead clinical-stage drug product, is a next-generation, non-steroidal, immuno-modulatory and small-molecule inhibitor of Dihydroorotate Dehydrogenase (“DHODH”) with best-in-class picomolar potency and a validated immune modulating mechanism designed to overcome the off-target side effects and safety issues associated with DHODH inhibitors. PP-001 has been developed in multiple clinical-stage formulations including ophthalmic and intravenous routes of administration. The ophthalmic formulation is in development for dry eye disease and conjunctivitis. In addition, EyeGate is developing Ocular Bandage Gel (“OBG”), a modified form of the natural polymer hyaluronic acid, designed to protect the ocular surface to permit re-epithelialization of the cornea and improve ocular surface integrity. OBG, with unique properties that help hydrate and protect the ocular surface, is in clinical evaluation for patients with punctate epitheliopathies (“PE”) as a result of dry eye. For more information, please visit . Forward-Looking Statements Some of the statements in this press release are “forward-looking” and are made pursuant to the safe harbor provision of the Private Securities Litigation Reform Act of 1995. These “forward-looking” statements include statements relating to, among other things, the commercialization efforts and other regulatory or marketing approval efforts pertaining to EyeGate’s products, including EyeGate’s PP-001 and OBG products, as well as the success thereof, with such approvals or success may not be obtained or achieved on a timely basis or at all; the results and potential benefits of the acquisition of Bayon; and the proposed terms and conditions of any binding agreement with Bayon, which will be subject to the receipt of all necessary approvals and satisfaction of all closing conditions for the completion of the transaction. These statements involve risks and uncertainties that may cause results to differ materially from the statements set forth in this press release, including, among other things, certain risk factors described under the heading “Risk Factors” contained in EyeGate’s Annual Report on Form 10-K filed with the SEC on March 25, 2021 or described in EyeGate’s other public filings. EyeGate’s results may also be affected by factors of which EyeGate is not currently aware. The forward-looking statements in this press release speak only as of the date of this press release. EyeGate expressly disclaims any obligation or undertaking to release publicly any updates or revisions to such statements to reflect any change in its expectations with regard thereto or any changes in the events, conditions or circumstances on which any such statement is based. Investor Contact:Corey Davis, Ph.D.LifeSci Advisors(212) 915-2577cdavis@lifesciadvisors.com

Los Angeles, USA, July 07, 2021 (GLOBE NEWSWIRE) -- Launch of New Therapies Amplifies Competition in the Dry Eye Disease Pipeline Landscape, Pronounces DelveInsight The Dry Eye disease pipeline represents a number of promising therapies in clinical development with novel mechanisms of action (MOAs) ranging from Chemokine receptor antagonists, Syk kinase inhibitors, Lipid modulators, Protein tyrosine kinase inhibitors, Dihydroorotate dehydrogenase inhibitors, Melanocortin type 1 receptor agonists, Melanocortin type 5 receptor agonists, and so many others. DelveInsight’s ‘Dry Eye Disease (DED) Pipeline Insights’ report presents an exhaustive coverage of the available therapies, Dry Eye Disease emerging therapies in different phases of clinical development, key companies working in the Dry Eye Disease pipeline domain, and future potential of the space. Some of the focal points picked from the Dry Eye Disease Pipeline report: Request for Sample to know more about the therapies expected to make grab the maximum patient pool @ Dry Eye Disease Emerging Therapies and Forecast The Dry Eye Disease Pipeline reports offer a holistic scenario of the ongoing clinical trials, partnerships taking place in the domain, recent happenings in space, and growth prospects across the Dry Eye Disease domain. Dry Eye Disease: Overview Dry Eye Disease (DED) is a complex, multifactorial condition that causes inflammation of the ocular surface and lacrimal glands and reductions in the quality and/or quantity of tears. It results in visual disturbance, and tear film instability with potential damage to the ocular surface. Discover more about the disease, treatments, and pipeline therapies @ DED Pipeline Assessment Dry Eye Disease Pipeline Drugs Request for Sample to know more @ Dry Eye Disease Pipeline Analysis, Key Companies, and Futuristic Trends Dry Eye Disease Therapeutics Assessment The Dry Eye Disease Pipeline report presents a kaleidoscopic view of the DED emerging novel therapies segmented by Stage, Product Type, Route of Administration, Molecule Type, Target, and Mechanism of Action. By Product Type By Stage By Molecule Type By Route of Administration By Mechanism of Action By Targets For rich insights into merging therapies and assessment, visit Dry Eye Disease Pipeline: Emerging Novel Therapies Scope of the Dry Eye Disease Pipeline Report Coverage: GlobalKey Players: Cellix Bio, AbbVie, IACTA Pharmaceuticals, Novaliq, Ocumension Therapeutics, Panoptes Pharma, Palatin Technologies, Aldeyra Therapeutics, among others.Key Dry Eye Disease Pipeline Therapies: CLX-OPH-621, AGN-231868, IC-265, NOV03, OT-202, PP 001, PL 9643, Reproxalap, and others. Discover more about the scope of the report @ DED Emerging Therapies, Treatments, and Ongoing Clinical Trials Table of Contents Learn more about the report offerings @ Dry Eye Disease Pipeline Therapies and Emerging Trends Audit the market before venturing with DelveInsight’s Due Diligence Services Related Reports Dry Eye Disease MarketDelveInsight's "Dry Eye Disease (DED) Market Insights, Epidemiology and Market Forecast-2028" report. Vernal Keratoconjunctivitis MarketDelveInsight's "Vernal keratoconjunctivitis Market Insights, Epidemiology, and Market Forecast-2030" report. Adult Myopia MarketDelveInsight’s ‘Adult Myopia Market Insights, Epidemiology, and Market Forecast—2030’ report. Blepharitis MarketDelveInsight's "Blepharitis Market Insights, Epidemiology, and Market Forecast-2030" report. Central Retinal Vein Occlusion MarketDelveInsight's "Central Retinal Vein Occlusion Market Insights, Epidemiology, and Market Forecast-2030" report. Central Serous Chorioretinopathy MarketDelveInsight's "Central Serous Chorioretinopathy Market Insights, Epidemiology, and Market Forecast-2030" report. Centronuclear Myopathy MarketDelveInsight’s ‘Centronuclear Myopathy Market Insights, Epidemiology, and Market Forecast-2030’ report. Browse through our related posts Uveitis Pipeline TherapiesEye Disorders Treatment MarketKeratoconus Therapy Market Allergic Conjunctivitis Therapy Market and Pipeline AnalysisDiabetic Macular Edema Market and dominance of off-label Avastin (Roche/Genentech) About DelveInsight DelveInsight is a leading Business Consultant and Market Research firm focused exclusively on life sciences. It supports Pharma companies by providing comprehensive end-to-end solutions to improve their performance.  Get hassle-free access to all the healthcare and pharma market research reports through our subscription-based platform PharmDelve. For more insights, visit Pharma, Healthcare, and Biotech News

- PP-001: proof-of-concept study in Austria for dry eye patients expected to initiate in Q3:21; U.S. IND submission planned in Q4:21- -OBG: U.S. IND submission and initiation of Phase 2 dry eye study is planned in Q4:21; proof-of-concept study for persistent epithelial defects expected to initiate in Q4:21- -PP-001 for systemic indications: Phase 1 healthy volunteer study in Austria planned to initiate in Q4:21- WALTHAM, Mass., May 12, 2021 (GLOBE NEWSWIRE) -- EyeGate Pharmaceuticals, Inc. (NASDAQ: EYEG), (“EyeGate” or the “Company”), a clinical-stage company developing and commercializing products for treating inflammatory and immune diseases with a focus on the eye and certain systemic diseases, today reported its financial results for the quarter ended March 31, 2021 and provided an update on recent corporate and operational activities. “We have entered a new phase of strategic growth and are steadily executing across our clinical development program for PP-001 and OBG, two unique platforms with broad therapeutic potential among a diverse range of ocular surface and systemic diseases,” said Franz Obermayr, Ph.D., Acting Chief Executive Officer of EyeGate. “We look forward to providing updates on our progress as we plan to kick-off several new clinical initiatives this year.” Recent Business Highlights: Pipeline updatesOcular Surface Franchise Systemic IndicationsOther administration routes for PP-001 are in development for systemic indications with both oral and intravenous (“IV”) delivery formulations. Corporate updates First Quarter 2021 Financial Results Research and development expenses were $1.280 million for the three months ended March 31, 2021, compared to compared to $0.938 million for the three months ended March 31, 2020. The increase of $0.342 million was primarily due to increases in personnel related costs from the Panoptes acquisition, OBG manufacturing costs, and development costs for PP-001. These increases were partially offset by decreases in OBG clinical work, as well as the expiration of a prepaid agreement with a research vendor in 2020. General and administrative expenses were $1.300 million for the three months ended March 31, 2021, compared to compared to $1.033 million for the three months ended March 31, 2020. The increase of $0.267 million was primarily due to increases in professional fees, including approximately $0.050 million of Panoptes acquisition costs, as well as corporate costs. Other income, net was $436 for the for the three months ended March 31, 2021, compared to compared to $0.018 million for the three months ended March 31, 2020 mainly due to less interest income earned on the Company’s cash balances. Cash and cash equivalents were $6.610 million as of March 31, 2021, compared to $1.186 million as of December 31, 2020. The increase in cash and cash equivalents was mainly due to net proceeds of $7.989 million received from the completion of a private placement, partially offset by cash outflows to fund the Company’s operations. About EyeGate EyeGate is a clinical-stage pharmaceutical company developing and commercializing products for treating inflammatory and immune diseases with a focus on the eye and certain systemic diseases. PP-001, EyeGate’s lead clinical-stage drug product, is a next-generation, non-steroidal, immuno-modulatory and small-molecule inhibitor of Dihydroorotate Dehydrogenase (“DHODH”) with best-in-class picomolar potency and a validated immune modulating mechanism designed to overcome the off-target side effects and safety issues associated with DHODH inhibitors. PP-001 has been developed in multiple clinical-stage formulations including ophthalmic and intravenous routes of administration. The ophthalmic formulation is in development for dry eye disease and conjunctivitis. In addition, EyeGate is developing Ocular Bandage Gel (“OBG”), a modified form of the natural polymer hyaluronic acid, designed to protect the ocular surface to permit re-epithelialization of the cornea and improve ocular surface integrity. OBG, with unique properties that help hydrate and protect the ocular surface, is in clinical evaluation for patients with punctate epitheliopathies (“PE”) as a result of dry eye. For more information, please visit . Forward-Looking Statements Some of the statements in this press release are “forward-looking” and are made pursuant to the safe harbor provision of the Private Securities Litigation Reform Act of 1995. These “forward-looking” statements include statements relating to, among other things, the commercialization efforts and other regulatory or marketing approval efforts pertaining to EyeGate’s products, including EyeGate’s PP-001 and OBG products, as well as the success thereof, with such approvals or success may not be obtained or achieved on a timely basis or at all. These statements involve risks and uncertainties that may cause results to differ materially from the statements set forth in this press release, including, among other things, certain risk factors described under the heading “Risk Factors” contained in EyeGate’s Annual Report on Form 10-K filed with the SEC on March 25, 2021 or described in EyeGate’s other public filings. EyeGate’s results may also be affected by factors of which EyeGate is not currently aware. The forward-looking statements in this press release speak only as of the date of this press release. EyeGate expressly disclaims any obligation or undertaking to release publicly any updates or revisions to such statements to reflect any change in its expectations with regard thereto or any changes in the events, conditions or circumstances on which any such statement is based. Investor Contact:Corey Davis, Ph.D.LifeSci Advisors(212) 915-2577cdavis@lifesciadvisors.com