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Altimmune Receives Award from U.S. Department of Defense to Fund Phase 1/2 Clinical Trial of T-COVID™ in Outpatients with Early COVID-19
GAITHERSBURG, Md., June 29, 2020 (GLOBE NEWSWIRE) -- Altimmune, Inc. (Nasdaq: ALT), a clinical-stage biopharmaceutical company, today announced it was awarded
About this update from Altimmune, Inc.
[{"type":"text","content":"GAITHERSBURG, Md., June 29, 2020 (GLOBE NEWSWIRE) -- Altimmune, Inc. (Nasdaq: ALT), a clinical-stage biopharmaceutical company, today announced it was awarded $4.7 million from the U.S. Army Medical Research & Development Command (USAMRDC) to fund its Phase 1/2 clinical trial of T-COVID, an investigational intranasal immune modulator for the treatment of outpatients with early COVID-19. The competitive award was granted by USAMRDC in collaboration with the Medical Technology Enterprise Consortium (MTEC), a 501(c)(3) biomedical technology consortium working in partnership with the Department of Defense (DoD). The award is expected to provide Altimmune sufficient funding to cover the entire cost of conducting this clinical trial.\n As previously announced, patient enrollment in the T-COVID Phase 1/2 trial is expected to commence in the coming weeks, with data readout expected in the fourth quarter of 2020. If the Phase 1/2 clinical trial is successful, the Company plans to initiate a Phase 2/3 trial of T-COVID early next year and commence discussions regarding a potential Emergency Use Authorization. “T-COVID represents one of the few investigational programs that targets outpatients with early COVID-19, with the goal of protecting them from progressing to severe disease and the need for hospitalization,” said Vipin K. Garg, Ph.D., President and Chief Executive Officer of Altimmune. “Importantly, this single dose, intranasal candidate has the potential to alleviate one of the major concerns of this pandemic, debilitating illness and prolonged hospitalization. Because of the broad protection it could afford against a variety of other respiratory pathogens, we believe that T-COVID has the potential to defend against future strains of coronavirus or other pandemics. We are delighted that the Department of Defense, U.S. Army and MTEC recognize this potential and are supporting its development.” Dr. Mei G. Sun, OTA Program Manager for USAMRDC, said, “We are excited to provide funding to the Altimmune team to conduct a trial using T-COVID. The replication-deficient adenovirus 5 (RD-Ad5) vector technology underpinning T-COVID has shown a significant reduction in lung inflammation and improvement in survival following a lethal influenza dose in preclinical models. Together with Altimmune, USAMRDC shares the common objective of finding a s...