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Indaptus Therapeutics Reports Second Quarter 2023 Financial Results and Provides Corporate Update
NEW YORK, Aug. 14, 2023 (GLOBE NEWSWIRE) -- Indaptus Therapeutics, Inc. (Nasdaq: INDP) (“Indaptus” or the “Company”) today announced financial results for the
About this update from Indaptus Therapeutics, Inc.
[{"type":"text","content":"NEW YORK, Aug. 14, 2023 (GLOBE NEWSWIRE) -- Indaptus Therapeutics, Inc. (Nasdaq: INDP) (“Indaptus” or the “Company”) today announced financial results for the second quarter ended June 30, 2023 and provided a corporate update. “We have recently announced the completion of the first cohort of patients in our INDP-D101 trial evaluating Decoy20 for the treatment of solid tumors and receipt of authorization from the Safety Review Committee to advance into the second cohort. As previously announced, we are pleased to observe evidence of immune activation, along with short-lived adverse events consistent with Decoy20's mechanism of action,” said Jeffrey Meckler, Chief Executive Officer of Indaptus. “We continue to analyze the data generated and anticipate that the data from the dose finding studies will guide the selection for the recommended Phase 2 dose for subsequent multi-dosing and combination studies, which are planned for 2024. An additional recent accomplishment is the appointment of industry veteran, Roger Waltzman, M.D., as our Chief Medical Officer. We anticipate benefiting from his expertise as we continue our Phase 1 trial and further develop the Decoy platform. In the meantime, we are prudently managing our cash position.” Recent Corporate Highlights: The Company announced the completion of the first cohort of its INDP-D101 trial and receipt of authorization from its Safety Review Committee to proceed into the second cohort of the Phase 1 trial. A compound from the Company’s Decoy platform was presented in a poster titled, “A systemically administered killed bacteria-based multiple immune receptor agonist for pulsed anti-tumor immunotherapy,” at the American Association for Cancer Research Conference 2023. The poster highlighted that Decoy10 demonstrated 90% reduction of LPS-endotoxin activity and use of 100% killed, non-pathogenic bacteria. The Company’s Chief Scientific Officer, Michael Newman, Ph.D., was named Chair for two of the three days of the 4th STING & TLR-Targeting Therapies Summit held in Boston from May 9 to 11, where he was also a featured speaker. The Company received patent allowances for its Decoy immunotherapy platform in Brazil and India. The Indian patent allowance brought the number of countries in which the Company holds patent protection to 32. Roger Waltzman, M.D. was appointed the Chief Medical ...