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Eledon Pharmaceuticals Announces Dosing of 10th Patient in Ongoing Phase 1b Trial Evaluating Tegoprubart in Patients Undergoing Kidney Transplantation
10th patient dosed marks achievement of first clinical milestone associated with next tranche of funding Eledon to report updated interim clinical data from
About this update from Eledon Pharmaceuticals, Inc.
[{"type":"text","content":"10th patient dosed marks achievement of first clinical milestone associated with next tranche of funding Eledon to report updated interim clinical data from the ongoing Phase 1b trial of tegoprubart in kidney transplantation at ASN Kidney Week in November 2023 IRVINE, Calif., Aug. 16, 2023 (GLOBE NEWSWIRE) -- Eledon Pharmaceuticals, Inc. (“Eledon”) (NASDAQ: ELDN) today announced the dosing of the 10th patient in the Company’s ongoing Phase 1b trial evaluating tegoprubart in patients undergoing kidney transplantation and will report interim clinical data from this study at the American Society of Nephrology (ASN) Kidney Week Annual Meeting in November 2023. “We are pleased with the strong pace of enrollment in our Phase 1b trial and believe it speaks to the underlying demand for a new and better immunosuppressive regimen for the thousands of patients each year who undergo kidney transplantation,” said David-Alexandre C. Gros, M.D., Chief Executive Officer. “This achievement represents the first successful clinical milestone in our recent financing agreement and positions us well to close the second tranche of funding upon the dosing of the 12th patient in our Phase 2 BESTOW study. We are activating sites in the BESTOW study and look forward to beginning enrollment.” In May 2023, Eledon announced a definitive securities purchase agreement with certain healthcare investors through a private placement that may provide up to $185 million in gross proceeds, with $35 million in upfront funding and additional aggregate financing of up to $105 million in two tranches, subject to achieving clinical development milestones, volume weighted share price levels, and trading volume conditions, as well as up to an additional $45 million upon exercise of warrants. With the dosing of the 10th patient, the Company has now completed the first of two clinical development milestones related to the second tranche closing; the other clinical development milestone related to the second tranche closing is the dosing of the 12th patient in the Phase 2 BESTOW study that is expected to begin enrollment in the 3rd quarter of this year. About Eledon Pharmaceuticals and tegoprubart Eledon Pharmaceuticals is a clinical stage biotechnology company using its immunology expertise to develop therapies that protect transplanted organs and prevent organ rejection, as ...