Cyxone provides an update on its research and development program
Cyxone (publ) is a biotech company with two promising clinical stage drug candidates, rabeximod and T20K, for autoimmune diseases. The company announces an updated development plan that aligns with the revised strategy revealed in August 2023, aiming to bring hope to patients suffering from these conditions.
In April of this year, Kjell Stenberg, a seasoned leader in the biotech industry, was appointed as the company's new CEO. In collaboration with an external team of key opinion leaders and an internal team, Dr. Stenberg reviewed the latest findings for both the rabeximod and T20K projects. After a thorough review and careful consideration, the company has selected a set of studies to position rabeximod and T20K as effective and safe drugs, primarily for arthritis and MS, two currently underserved markets.
The immediate focus for rabeximod is to leverage its unique safety profile, demonstrated in 300 patients, and its novel mode of action by generating compelling data in collaboration with leading experts in rheumatoid arthritis in Europe. Based on this data, the objective is to secure partnerships to conduct clinical trials targeting patients who do not respond to treatment with TNFα inhibitors.
Cyxone has previously demonstrated that its drug T20K can effectively reduce inflammation in an animal model of MS when administered before or during disease progression due to specific inhibition of IL-2, a key driver of MS in humans. T20K's good safety profile has also been demonstrated after intravenous administration in humans. Cyxone will also explore the opportunity to combine T20K with a kappa opioid receptor agonist (KORA). KORAs can stimulate the repair of damaged myelin to restore lost nerve functions. Cyxone's patents cover both T20K and KORA combinations.
"I am pleased to communicate our plans to progress development of our unique candidates, rabeximod and T20K. They both have innovative first-in-class properties, which I am excited to develop further. By investigating their respective modes of action and proceeding towards clinical studies targeting relevant patient groups, Cyxone will be able to increase their value significantly. We aim to achieve important milestones in the near term. We have set plans that will be realized at a significantly lower burn rate than what has been seen in the past in Cyxone. Together with the planned, additional activities, and the strong patent portfolio surrounding both of our assets, I am convinced that we will have sufficient data to generate interest from big pharmaceutical companies within the next 12 months," says Kjell Stenberg, CEO at Cyxone.
Contact
Kjell Stenberg, CEO
Tel: +46 (0)70 781 88 08
Email: kjell.g.stenberg@cyxone.com
About Cyxone
Cyxone AB (publ) (Nasdaq First North Growth Market: CYXO) develops disease modifying therapies for diseases such as rheumatoid arthritis and multiple sclerosis. Rabeximod is a Phase 2 candidate drug being evaluated for the management of rheumatoid arthritis. T20K is a Phase 1 candidate drug for treatment of multiple sclerosis. Certified Adviser is FNCA Sweden AB. For more information, please visit www.cyxone.com