Press release
Gossamer Bio Enters into Option Agreement to Acquire Respira Therapeutics and Its Lead Candidate, RT234, an Inhaled, On‑Demand Vardenafil for Pulmonary Hypertension
- RT234 is an investigational inhaled, as needed (PRN) vardenafil formulation for PAH and PH-ILD, where no on demand treatments exist - - Capital-efficient
About this update from Gossamer Bio, Inc.
[{"type":"text","content":"\n- RT234 is an investigational inhaled, as needed (PRN) vardenafil formulation for PAH and PH-ILD, where no on demand treatments exist -\n\n\n- Capital-efficient structure with no upfront cash, no cash upon exercise, and limited dilution -\n\n\n- Opportunity to expand pulmonary hypertension franchise through complementary program without diverting resources from near-term execution -\n\n\n SAN DIEGO--(BUSINESS WIRE)--\nGossamer Bio, Inc. (Nasdaq: GOSS), a late-stage, clinical biopharmaceutical company focused on the development and commercialization of seralutinib for the treatment of pulmonary arterial hypertension (PAH) and pulmonary hypertension associated with interstitial lung disease (PH-ILD), today announced it has entered into an option agreement to acquire Respira Therapeutics (Respira) and its lead product candidate, RT234, an investigational inhaled vardenafil dry‑powder therapy designed for as needed (PRN) use in pulmonary hypertension (PH), including PAH and PH‑ILD. Despite existing treatment options, the majority of PH patients continue to struggle with debilitating symptoms that disrupt daily life and limit their independence, because there are no approved PRN therapies in PAH or PH-ILD.\n\n\n“There is a clear unmet need for an ‘as needed’ therapy in PAH and PH-ILD, where patients lack an option for rapid symptom management. Supported by positive clinical data, RT234, an investigational inhaled, as needed therapy, is intended to address this gap and supplement chronic treatments,” said Faheem Hasnain, Co-Founder, Chairman, and CEO of Gossamer Bio.\n\n\n“RT234 would be an excellent complement to seralutinib as we look to expand our pulmonary hypertension franchise and deepen our engagement with PH clinicians and patients and to reinforce our long-term commitment to those living with pulmonary hypertension. The option transaction structure gives us flexibility in decision making as we approach key corporate milestones, keeping our attention squarely on near-term seralutinib priorities in PAH and PH-ILD.”\n\n\nPursuant to the option agreement, Gossamer will issue 2.5 million shares in connection with signing, equating to about 1% of Gossamer’s common shares outstanding, with an additional 1.5 million shares due upon exercise of the option. Additionally, current and former shareholders of Respira will be eligible for...