Oncotelic Therapeutics Inc (OTLC)

[davidsson10]

Mateon Report Positive Results for Multiple COVID-19 Drug Candidates
OT-101 and two additional candidates demonstrated viral inhibition activity against coronavirus

March 25, 2020 08:00 ET | Source: Mateon Therapeutics

AGOURA HILLS, Calif., March 25, 2020 (GLOBE NEWSWIRE) -- Mateon Therapeutics, Inc. (OTCQB:MATN) (“Mateon”) dedicated to the development of OT-101, a TGF-Beta antisense drug candidate, today provided an update on its rapid antiviral response program targeting coronaviruses, initially targeting COVID-19. OT-101 continued to show significant activity against coronaviruses and in the new testing results, two additional therapeutic oligonucleotides designed to target COVID-19 also demonstrated potent anti-viral activity. The candidates were all designed to work synergistically to avoid resistant mutations frequently seen with viral infections. OT-101 and the other candidates work by inhibiting virus binding to its target, thereby stopping the virus from replicating itself and stopping viral induced pneumonia, which often leads to patient complications. The results of the new studies came through joint efforts between Mateon and its partner, Golden Mountain Partners, LLC (GMP), which have teamed up to build an international world class program for rapid response against COVID-19 and future epidemics.

The Company has begun preparations to submit an Investigational New Drug Application (IND) to the Food and Drug Administration (FDA) for OT-101 against COVID-19 to expedite testing in COVID-19 patients.

The collaborative effort was able to manufacture and test multiple new therapeutic drug candidates within weeks from time of viral sequencing. The effort was built on the companies experience with the specific antisense backbone and its well described safety profile. OT-101 is ready to move into clinical testing in COVID-19 patients and the new candidates can be ready shortly thereafter. The anti-sense program that Mateon has developed has the potential to go from concept to clinic in months, rather than years, which is highly suitable as a rapid response to pandemics.

Dr. Vuong Trieu, President and Chief Executive Officer of Mateon stated: “We are excited about our platform for rapid response against viral epidemics and look forward to working with GMP to further expand on that platform in the US and China.”