Business
Cocrystal Pharma Provides COVID-19 Impact Update on Development Programs
– Company reprioritizes activities to accelerate development and provides next steps for advancing preclinical COVID-19 Coronavirus program – – Discussions
About this update from Cocrystal Pharma, Inc.
[{"type":"text","content":"– Company reprioritizes activities to accelerate development and provides next steps for advancing preclinical COVID-19 Coronavirus program –\n – Discussions ongoing with potential strategic partners for COVID-19 Coronavirus program – – Collaboration with Merck to discover and develop certain proprietary influenza A/B antiviral agents remains ongoing – – Supply chain delay in fully owned influenza A virus program – – Norovirus program on track to complete proof-of-concept animal study model in Q4 2020 – BOTHELL, WA, May 11, 2020 (GLOBE NEWSWIRE) -- Cocrystal Pharma, Inc. (NASDAQ: COCP), (“Cocrystal” or the “Company”), a clinical stage biotechnology company discovering and developing novel antiviral therapeutics, today provided an update on the impact of the COVID-19 global pandemic on its preclinical and clinical development programs. “We have reprioritized development activities to accelerate the advancement of our preclinical COVID-19 program, which we recently established as a result of our license agreements with Kansas State University Research Foundation (KSRF),” commented Dr. Gary Wilcox, Chairman and Chief Executive Officer of Cocrystal. “Like many of our peers, we have been working to minimize the impact of the COVID-19 pandemic on our operations. While we have been able to mitigate some of the risks, the worldwide impact on supply chains has resulted in a delay to our fully owned influenza A virus program. The full impact of COVID-19 on our development programs remains uncertain, but our team is determined to advance preclinical and clinical development programs across our pipeline as quickly and efficiently as possible.” Programs Update Influenza A/B Inhibitors: Merck Collaboration Cocrystal’s exclusive license and collaboration agreement with Merck to discover and develop certain proprietary influenza A/B antiviral agents remains ongoing. Cocrystal has been working with the scientific leadership at Merck over the past year in advancing the joint influenza A/B program. Merck, a global healthcare company with a history of over 125-years of drug discovery and innovation, has funded the collaborative influenza A/B program and could provide up to $156 million in milestones payments as the collaboration proceeds through clinical and commercial development. The research and collaboration agreement with Merck also provides f...