PTP1B

FARMINGDALE, N.Y., March 19, 2024 (GLOBE NEWSWIRE) -- Depymed, Inc. (“DepYmed” or the “Company”) is a clinical-stage pharmaceutical company focused on developing transformative medicines for many poorly treated diseases that may benefit significantly by targeting the protein tyrosine phosphatase (PTP) family of enzymes. Today, DepYmed announces it has received clearance from the U.S. Food and Drug Administration to initiate its phase 1 clinical trial for DPM-1003 for the treatment of Rett Syndrome. “This is a foundational achievement for DepYmed. It allows us to transition into a clinical-stage company with a transformational new drug candidate that has the possibility to provide significant benefit for patients,” said Andreas Grill, DepYmed’s President and CEO. “As an IND for the first drug of its kind, we believe this milestone opens a pathway to the development of important new treatments for a wide range of diseases where inhibiting PTP enzymes holds promise. This includes Rett Syndrome, cancer, metabolic disease and obesity, and Alzheimer’s Disease. We look forward to beginning to assess the safety and tolerability of DPM-1003 and continue our development of this compound for Rett Syndrome and our other ongoing programs.” About DPM-1003 Protein tyrosine phosphatases are major players in the control of cell signaling pathways that are disrupted in many diseases, yet to date no drug modulators of these enzymes have been successfully developed. DepYmed is the first company to develop a new class of orally bioavailable drug candidates that act by inhibiting PTP1B, one of the most important PTP drug targets. One of its lead compounds has shown promising efficacy in preclinical models of Rett syndrome, and the Company hopes to initiate a phase 1 clinical trial in 2024. DPM-1003 has been granted Orphan Drug designation by the U.S. Food and Drug Administration and conditionally designated under the FDA’s Rare Pediatric Disease program. About Rett Syndrome Rett syndrome is a progressive neurodevelopmental disorder that almost exclusively affects females. Infants with Rett syndrome generally develop normally for 6 to 18 months after birth. At this point, they lose previously acquired skills (developmental regression) such as purposeful hand movements and the ability to communicate. Affected children often develop autistic-like behaviors, breathing irregularities, feeding and swallowing difficulties, growth retardation, and seizures. Most Rett syndrome cases are caused by mutations of the MECP2 gene on the X chromosome and can present with a wide range of disability ranging from mild to severe. The expression of PTP1B, DepYmed’s target in Rett syndrome, is regulated by MECP2; in turn, PTP1B controls important cell functions that are disrupted in the disease. About DepYmed, Inc. DepYmed, Inc. is a New York-based rare disease and cancer therapeutic development company that was founded to capitalize on the scientific discoveries of the Tonks lab at Cold Spring Harbor Laboratory in the physiological function of PTP1B and ways to modulate its role in various human diseases. DepYmed is currently developing a new class of potent, orally bioavailable small molecule inhibitors of the enzyme PTP1B as novel therapeutics for Rett Syndrome, different types of cancer, metabolic diseases, obesity, and Alzheimer’s Disease where the PTP1B target has shown promise. In addition, DepYmed has also discovered a novel class of small molecules with copper chelating properties that it is developing as potential therapeutic agents for diseases such as Wilson disease and various cancers. The company is actively developing a deep pipeline of new compounds with broad therapeutic potential in these emerging drug classes in collaboration with Cold Spring Harbor Laboratory. For more information, please visit the Company’s website at: . For Media Inquiries please contact: Jules Abraham JQA Partners, Inc. jabraham@jqapartners.com 917-885-7378 DepYmed: info@depymedinc.com

FARMINGDALE, N.Y., Feb. 21, 2024 (GLOBE NEWSWIRE) -- DepYmed, Inc. (“DepYmed” or the “Company”) is a preclinical stage pharmaceutical company focused on developing transformative treatments for rare diseases and oncology that target the protein tyrosine phosphatase (PTP) family of enzymes. Today the Company announces that management will be meeting with investors at the BIO CEO and Investor Conference held on February 26 – 27, 2024 at the New York Marriott Marquis. Interested qualified investors must register for the conference via https://bcic.bio.org/registration. CEO Andreas Grill will be available for one-on-one meetings throughout the conference.To schedule a meeting: https://bcic.bio.org/bio-one-one-partnering or contact the Company directly at info@depymedinc.com. About DepYmed, Inc.DepYmed Inc., is a New York based rare disease and cancer therapeutic development company that was founded to capitalize on the scientific discoveries of the Tonks lab at Cold Spring Harbor Laboratory in the physiological function of PTP1B and ways to modulate its role in various human diseases. DepYmed is currently developing a new class of potent, orally bioavailable small molecule inhibitors of the enzyme PTP1B as novel therapeutics for Rett Syndrome and different types of cancer. In addition, DepYmed has also discovered a novel class of small molecules with copper chelating properties that it is developing as potential therapeutic agents for such diseases as Wilson disease and various cancers. The company is actively developing a deep pipeline of novel compounds with broad therapeutic potential in these emerging drug classes in collaboration with Cold Spring Harbor Laboratory. For more information, please visit the Company’s website at: www.depymed.com. For Media Inquiries please contact: Jules AbrahamJQA Partners, Inc.jabraham@jqapartners.com 917-885-7378 DepYmed:info@depymedinc.com

FARMINGDALE, N.Y., Feb. 07, 2024 (GLOBE NEWSWIRE) -- DepYmed, Inc. (“DepYmed” or the “Company”) is a preclinical stage pharmaceutical company focused on developing transformative treatments for rare diseases and oncology that target the protein tyrosine phosphatase (PTP) family of enzymes. Today the Company announces that management will be meeting with investors at the 34th Annual Oppenheimer Healthcare Life Sciences Conference held virtually on February 13-14, 2024. Interested qualified investors must register for the conference through Oppenheimer’s customer portal, and may arrange meetings either through the conference portal or directly with the Company via email at info@depymedinc.com. Investors are requested to preregister for the event. About the 34th Annual Oppenheimer Healthcare Life Sciences ConferenceThis conference will provide investors a broad spectrum of public and private healthcare companies spanning all major sectors of the healthcare industry: bio & specialty pharmaceuticals; biotechnology; medical devices; life science tools and diagnostics; healthcare information technology and distribution; and healthcare providers and servicers. The Healthcare ecosystem has never been as complex nor as full of opportunities. Therapies and treatments are evolving more rapidly than investors have been able to keep up with. The 34th Annual Oppenheimer Healthcare Life Sciences Conference will showcase nearly 300 companies that will likely shape the industry for the next decade to come. About DepYmed, Inc.DepYmed Inc., is a New York based rare disease and cancer therapeutic development company that was founded to capitalize on the scientific discoveries of the Tonks lab at Cold Spring Harbor Laboratory in the physiological function of PTP1B and ways to modulate its role in various human diseases. DepYmed is currently developing a new class of potent, orally bioavailable small molecule inhibitors of the enzyme PTP1B as novel therapeutics for Rett Syndrome and different types of cancer. In addition, DepYmed has also discovered a novel class of small molecules with copper chelating properties that it is developing as potential therapeutic agents for such diseases as Wilson disease and various cancers. The company is actively developing a deep pipeline of novel compounds with broad therapeutic potential in these emerging drug classes in collaboration with Cold Spring Harbor Laboratory. For more information, please visit the Company’s website at: www.depymed.com. For Media Inquiries please contact: Jules AbrahamJQA Partners, Inc.jabraham@jqapartners.com 917-885-7378 DepYmed:info@depymedinc.com