Cambridge, UK. Following release of results demonstrating the clinical utility of imatinib in a Phase II trial in patients with COVID-19, Exvastat is pleased to announce that it has secured further investment from its principal investor, Cambridge Innovation Capital (CIC). This additional investment supports the expansion of the senior management team and the ongoing development of Impentri™ (intravenous imatinib) in preparation for the Phase III development of Impentri™ for all-cause Acute Respiratory Distress Syndrome (ARDS) and the treatment of COVID-19 pneumonia in 2022.
The company is pleased to announce the appointment of Dr Gary Burgess as Chief Medical Officer, Gunnar Staaf as Chief Business Officer and Stuart Gibson as Chief Financial Officer. Gary has more than 20 years’ experience in the pharmaceutical industry with Pfizer, Conatus Pharmaceuticals and Vectura Ltd as well as previous hospital experience in intensive care. Gunnar’s prior affiliations include Eli Lilly, Novartis, Astellas and Serentis, before joining Avantium as CEO, which he led into a MBO and sold as Chrystallics. Stuart has worked as CFO for a number of early stage and growing companies, having previously led the finance function of Sosei R&D.
Following the recent positive results from the clinical trial of oral imatinib for the treatment of patients with COVID-19, the company is undertaking two additional Phase II trials with IV imatinib (Impentri™) for the treatment of COVID-induced ARDS in the Netherlands and in India. For the future, Exvastat is planning the late-stage development of Impentri™ in all-cause ARDS, with a Phase III study to initiate in 2022.
David Cavalla, CEO, commented “We are now moving rapidly towards our goal to develop Impentri™, a bespoke intravenous formulation of imatinib tailored for the intensive care setting for the treatment of moderate-severe all cause ARDS. This follows on from the recent publication of a Phase II study showing that imatinib was associated with a significant 49% reduction in mortality in severe COVID-19 patients hospitalised and in need of supplemental oxygen”
Exvastat is a clinical stage company developing intravenous imatinib (Impentri™) as a first-in-class pharmacotherapy for all-cause ARDS and COVID-19 pneumonia to lower mortality and improve quality of life of patients. ARDS is a life-threatening respiratory condition with a high mortality and currently lacking any effective, licensed treatment.
About Cambridge Innovation Capital
Cambridge Innovation Capital (CIC) is a leading venture investor backing and building category-leading deep tech and life sciences companies. CIC currently manages more than £300 million and has invested in 30+ companies. CIC is a preferred investor for the University of Cambridge, Europe’s top source of founders for venture-backed start-ups.
Cambridge Innovation Capital Manager Limited (FRN:918898) is authorised and regulated by the Financial Conduct Authority.
For more information please visit www.cic.vc or follow us on Twitter at @CIC_vc and Linkedin.
About Impentri™ (intravenous imatinib)
Imatinib is a well-tolerated treatment for leukemia and certain rare cancers. The efficacy and safety of oral imatinib has been confirmed in the CounterCOVID, Phase II clinical study of 386 hospitalised patients with hypoxaemia associated with COVID-19 infection [EudraCT number: 2020-005447-23] (doi: 10.1016/S2213-2600(21)00237-X). The efficacy of Impentri™ is currently being studied in a Phase II clinical study of 90 hospitalised patients with moderate-severe ARDS associated with COVID-19 infection. [EudraCT number: 2020-005447-23]