Business
Gain Therapeutics Reports First Quarter 2023 Financial Results and Business Update
Successfully completed GLP toxicology studies for lead program GT-02287 in GBA1 Parkinson’s diseaseCompany is on track to submit application for start of
About this update from Gain Therapeutics, Inc.
[{"type":"text","content":"Successfully completed GLP toxicology studies for lead program GT-02287 in GBA1 Parkinson’s diseaseCompany is on track to submit application for start of Phase 1 clinical trial of GT-02287 to the Human Research Ethics Committee (HREC) in Australia in mid-2023Received a $2.8 million (CHF $2.5 million) grant from Innosuisse, the Swiss Innovation Agency, to advance the development of GT-02287 in GBA1 Parkinson’s disease Obtained a grant in the aggregate amount of $1.3 million (EUR 1.2 million) to a consortium led by Gain Therapeutics for further development of the Company’s novel small molecule allosteric regulators against Alpha-1 Antitrypsin DeficiencyAppointed C. Evan Ballantyne as Chief Financial Officer in April BETHESDA, Md., May 12, 2023 (GLOBE NEWSWIRE) -- Gain Therapeutics, Inc. (Nasdaq: GANX) (“Gain”, or the “Company”), a biotechnology company leading the discovery and development of allosteric small molecule therapies, today announced financial results for the first quarter ended March 31, 2023, and highlighted recent corporate progress. “We are pleased with the progress we have made this year and look forward to advancing our lead candidate GT-02287 for the treatment of GBA1 Parkinson’s disease into the clinic later this year,” said Matthias Alder, Chief Executive Officer. “In addition, the grants obtained for the development of GT-02287 and our AAT research program provide significant non-dilutive capital and validate the potential of Gain’s allosteric protein regulators as small molecule therapies in a broad range of diseases. Further, we are thrilled that Evan Ballantyne joined us last month as our new Chief Financial Officer to support the continued growth of Gain at this important inflection point when we are poised to become a clinical stage biotech company.” Recent Pipeline Highlights Successfully completed GLP toxicology studies for lead program GT-02287 in GBA1 Parkinson’s disease. With the completion of GLP-toxicology studies, Gain remains on track to submit the application for the initiation of a Phase 1 clinical trial of GT-02287 to the Human Research Ethics Committee (HREC) in Australia in mid-2023. The Phase 1 clinical trial is expected to commence in the second half of 2023 and will evaluate administration of both single and multiple ascending dose levels of GT-02287 in healthy volunteers to assess safety...