Business
Cabaletta Bio Reports First Quarter 2020 Financial Results and Provides Business Update
PHILADELPHIA, May 12, 2020 (GLOBE NEWSWIRE) -- Cabaletta Bio, Inc. (Nasdaq: CABA), a clinical-stage biotechnology company focused on the discovery and
About this update from Cabaletta Bio, Inc.
[{"type":"text","content":"PHILADELPHIA, May 12, 2020 (GLOBE NEWSWIRE) -- Cabaletta Bio, Inc. (Nasdaq: CABA), a clinical-stage biotechnology company focused on the discovery and development of engineered T cell therapies for patients with B cell-mediated autoimmune diseases, today announced financial results for the first quarter ended March 31, 2020.\n “Following the recent Fast Track Designation from the FDA for our lead product candidate, DSG3-CAART, for the treatment of patients with mucosal pemphigus vulgaris (mPV), our Phase 1 DesCAARTes™ trial is ready to launch as soon as COVID-19 related clinical trial activity restrictions are lifted. mPV is a rare, serious, and sometimes fatal disease for which patients have limited treatment options. We are eager to explore the potential of our engineered T cell therapy to fulfill this unmet need,” said Steven Nichtberger, M.D., Chief Executive Officer and Co-founder of Cabaletta. “We continue to closely monitor the unprecedented challenges and impact of the COVID-19 pandemic while working to ensure that patients, our employees and collaborators remain safe. As evidenced by the recent Fast Track designation, despite working from home over the past two months, our dedicated team continues to make progress across our portfolio wherever possible as we strive to develop potential cures for patients with severe autoimmune diseases.” Pipeline Highlights and Anticipated Upcoming Milestones DSG3-CAART: Desmoglein 3 chimeric autoantibody receptor T cells as potential treatment for patients with mucosal pemphigus vulgaris (mPV). In May 2020, the Company announced that the U.S. Food and Drug Administration (FDA) granted Fast Track Designation to DSG3-CAART. This follows the January 2020 granting of Orphan Drug Designation from the FDA for the treatment of PV.The Company is prepared to initiate an open-label Phase 1 clinical trial (DesCAARTes™) to evaluate the safety and tolerability of DSG3-CAART in relapsed/refractory mPV patients in 2020. MuSK-CAART: Muscle Specific Kinase (MuSK) chimeric autoantibody receptor T cells as potential treatment for MuSK-associated myasthenia gravis. Cabaletta plans to initiate Investigational New Drug (IND)-enabling studies in 2020.In vivo target engagement data were selected for oral presentation at the 72nd American Academy of Neurology (AAN) Annual Meeting and will now be made available...