Some highlights from fresh filed 8K!
$Akari Therapeutics(AKTX.US$ Exhibit 99.1
Akari Therapeutics and Peak Bio Announce Portfolio Prioritization Plan for Combined Go-Forward Merger Entity
•Prioritization of Peak’s ADC cancer therapeutic platform technology and Akari’s PAS-nomacopan for Geographic Atrophy, a disabling ophthalmic disease•Akari Therapeutics announces leadership changes in separate Akari press release
BOSTON and PLEASANTON, May 1, 2024 (GLOBE NEWSWIRE) - Akari Therapeutics, Plc (Nasdaq: AKTX, “Akari”) and Peak Bio Inc. (OTC: PKBO, “Peak”) today announced completion of a joint portfolio prioritization review pursuant to which the combined entity, following completion of the previously announced merger of Akari and Peak, will focus on Peak’s ADC (antibody drug conjugate) platform technology and Akari’s PAS-nomacopan Geographic Atrophy (GA) program. Peak’s ADC platform technology is a proprietary technology using antibody plus linker plus Peak Bio toxin with immune modulation and includes a novel pre-clinical ADC candidate targeting TROP-2. Akari’s PAS-nomacopan is a bispecific complement and leukotriene B4 inhibitor with prolonged duration of action being developed for GA.
“As part of the merger process, the boards of each company collaboratively decided on this portfolio prioritization plan. The boards believe by prioritizing the ADC and PAS-nomacopan GA programs the post-closing combined company will be in the best position to secure business development opportunities and funding while continuing to advance these important programs,” said Hoyoung Huh, M.D., Ph.D. Chairman, Peak Bio, and Ray Prudo, M.D. Chairman, Akari Therapeutics.
Key Elements of Program Prioritization
ADC toolkit (proprietary technology using antibody plus linker plus Peak Bio toxin with immune modulation)
•Oncology platform includes a novel pre-clinical ADC candidate targeting TROP-2•Strategy includes continued IND enabling development
•Strategy includes developing and progressing our novel toxin(s) including our lead toxin, PH-1 (Thailanstatin) which can be used in multiple important cancer targets including our TROP-2 candidate•Ongoing and continued business development activities with significant market interest in ADC candidates
PAS-nomacopan for Geographic Atrophy
•Complement only inhibitors recently approved for treatment of GA•PAS-nomacopan has been shown in animal models to have prolonged biologic residence in the eye, suggesting ability for q2 to q4 month dosing, a potentially important competitive advantage•PAS-nomacopan, with its unique, non-pegylated bispecific inhibition of leukotriene B4 and complement may offer safety and/or efficacy advantages over traditional complement inhibitors•Continued IND enabling development including full scale manufacturing of drug for clinical use with a pre-IND meeting expected 1H 2024
Programs for Further Evaluation
HSCT-TMA
•Akari’s HSCT-TMA program will be suspended, with enrollment in its currently active pediatric clinical study discontinued due to cost and timeline•The post-closing combined company will work closely with FDA to define the best path forward for this technology •Based upon cost and timeline. will consider the opportunity for partnership and licensing, specifically as it relates to the Priority Review Voucher (PRV)
PHP 303 (5th generation Neutrophil Elastase Inhibitor)
•Peak Bio’s Phase II ready PHP 303 program for Alpha 1 anti trypsin deficiency (AATD), a rare orphan condition, will be discontinued
•The post-closing combined company will continue ongoing business development discussions around this technology
Nomacopan
•Continue to seek partnership opportunities for licensing, proof of concept studies, and clinical trials
About the Merger
On March 5, 2024, Akari and Peak Bio announced a definitive agreement to merge as equals in an all-stock transaction. The combined entity will operate as Akari Therapeutics, Plc, which is expected to continue to be listed and trade on the Nasdaq Capital Market as AKTX, under the Chairmanship of Hoyoung Huh, MD, PhD. Under the terms of the agreement, Peak stockholders will receive a number of Akari ordinary shares (represented by American Depositary Shares) for each share of Peak stock they own, as determined on the basis of the exchange ratio described in the agreement. The exchange is expected to result in implied equity ownership in the combined company of approximately 50% for Akari shareholders and approximately 50% for Peak stockholders on a fully diluted basis, subject to adjustment under certain circumstances, including based on each party’s relative level of net cash at the closing of the proposed transaction. The transaction is expected to close by the third quarter of this year subject to the satisfaction of customary closing conditions, including approval by the shareholders of both companies.
About Akari Therapeutics
Akari Therapeutics, plc (Nasdaq: AKTX) is a biotechnology company developing advanced therapies for autoimmune and inflammatory diseases. Akari’s lead asset, investigational nomacopan, is a bispecific recombinant inhibitor of complement C5 activation and leukotriene B4 (LTB4) activity. The company is conducting pre-clinical research of long-acting PAS-nomacopan in geographic atrophy (GA). For more information about Akari, please visit akaritx.com.
Akari Therapeutics and Peak Bio Announce Portfolio Prioritization Plan for Combined Go-Forward Merger Entity
•Prioritization of Peak’s ADC cancer therapeutic platform technology and Akari’s PAS-nomacopan for Geographic Atrophy, a disabling ophthalmic disease•Akari Therapeutics announces leadership changes in separate Akari press release
BOSTON and PLEASANTON, May 1, 2024 (GLOBE NEWSWIRE) - Akari Therapeutics, Plc (Nasdaq: AKTX, “Akari”) and Peak Bio Inc. (OTC: PKBO, “Peak”) today announced completion of a joint portfolio prioritization review pursuant to which the combined entity, following completion of the previously announced merger of Akari and Peak, will focus on Peak’s ADC (antibody drug conjugate) platform technology and Akari’s PAS-nomacopan Geographic Atrophy (GA) program. Peak’s ADC platform technology is a proprietary technology using antibody plus linker plus Peak Bio toxin with immune modulation and includes a novel pre-clinical ADC candidate targeting TROP-2. Akari’s PAS-nomacopan is a bispecific complement and leukotriene B4 inhibitor with prolonged duration of action being developed for GA.
“As part of the merger process, the boards of each company collaboratively decided on this portfolio prioritization plan. The boards believe by prioritizing the ADC and PAS-nomacopan GA programs the post-closing combined company will be in the best position to secure business development opportunities and funding while continuing to advance these important programs,” said Hoyoung Huh, M.D., Ph.D. Chairman, Peak Bio, and Ray Prudo, M.D. Chairman, Akari Therapeutics.
Key Elements of Program Prioritization
ADC toolkit (proprietary technology using antibody plus linker plus Peak Bio toxin with immune modulation)
•Oncology platform includes a novel pre-clinical ADC candidate targeting TROP-2•Strategy includes continued IND enabling development
•Strategy includes developing and progressing our novel toxin(s) including our lead toxin, PH-1 (Thailanstatin) which can be used in multiple important cancer targets including our TROP-2 candidate•Ongoing and continued business development activities with significant market interest in ADC candidates
PAS-nomacopan for Geographic Atrophy
•Complement only inhibitors recently approved for treatment of GA•PAS-nomacopan has been shown in animal models to have prolonged biologic residence in the eye, suggesting ability for q2 to q4 month dosing, a potentially important competitive advantage•PAS-nomacopan, with its unique, non-pegylated bispecific inhibition of leukotriene B4 and complement may offer safety and/or efficacy advantages over traditional complement inhibitors•Continued IND enabling development including full scale manufacturing of drug for clinical use with a pre-IND meeting expected 1H 2024
Programs for Further Evaluation
HSCT-TMA
•Akari’s HSCT-TMA program will be suspended, with enrollment in its currently active pediatric clinical study discontinued due to cost and timeline•The post-closing combined company will work closely with FDA to define the best path forward for this technology •Based upon cost and timeline. will consider the opportunity for partnership and licensing, specifically as it relates to the Priority Review Voucher (PRV)
PHP 303 (5th generation Neutrophil Elastase Inhibitor)
•Peak Bio’s Phase II ready PHP 303 program for Alpha 1 anti trypsin deficiency (AATD), a rare orphan condition, will be discontinued
•The post-closing combined company will continue ongoing business development discussions around this technology
Nomacopan
•Continue to seek partnership opportunities for licensing, proof of concept studies, and clinical trials
About the Merger
On March 5, 2024, Akari and Peak Bio announced a definitive agreement to merge as equals in an all-stock transaction. The combined entity will operate as Akari Therapeutics, Plc, which is expected to continue to be listed and trade on the Nasdaq Capital Market as AKTX, under the Chairmanship of Hoyoung Huh, MD, PhD. Under the terms of the agreement, Peak stockholders will receive a number of Akari ordinary shares (represented by American Depositary Shares) for each share of Peak stock they own, as determined on the basis of the exchange ratio described in the agreement. The exchange is expected to result in implied equity ownership in the combined company of approximately 50% for Akari shareholders and approximately 50% for Peak stockholders on a fully diluted basis, subject to adjustment under certain circumstances, including based on each party’s relative level of net cash at the closing of the proposed transaction. The transaction is expected to close by the third quarter of this year subject to the satisfaction of customary closing conditions, including approval by the shareholders of both companies.
About Akari Therapeutics
Akari Therapeutics, plc (Nasdaq: AKTX) is a biotechnology company developing advanced therapies for autoimmune and inflammatory diseases. Akari’s lead asset, investigational nomacopan, is a bispecific recombinant inhibitor of complement C5 activation and leukotriene B4 (LTB4) activity. The company is conducting pre-clinical research of long-acting PAS-nomacopan in geographic atrophy (GA). For more information about Akari, please visit akaritx.com.
About Peak Bio, Inc.
Peak Bio (OTC:PKBO) is a clinical-stage biopharmaceutical company focused on developing therapeutics addressing significant unmet needs in the areas of oncology and inflammation. The Peak Bio pipeline includes an antibody-drug-conjugate (ADC) platform that includes novel toxins and linkers coupled with important cancer antibody targets and a Phase 2-ready neutrophil elastase inhibitor for alpha1 anti-trypsin deficiency disorder (AATD). For more information about Peak Bio, please visit peak-bio.com.
Peak Bio (OTC:PKBO) is a clinical-stage biopharmaceutical company focused on developing therapeutics addressing significant unmet needs in the areas of oncology and inflammation. The Peak Bio pipeline includes an antibody-drug-conjugate (ADC) platform that includes novel toxins and linkers coupled with important cancer antibody targets and a Phase 2-ready neutrophil elastase inhibitor for alpha1 anti-trypsin deficiency disorder (AATD). For more information about Peak Bio, please visit peak-bio.com.
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105310552 : How can this AKTX starting price 5000 and within 2 years it dropped to 150?
TrytosaveabitOP 105310552: That’s not the real price. That’s with three R/S so take that high and divide by 35 and that will be your ATH