Business
Passage Bio Reports Fourth Quarter and Full-Year 2020 Financial Results and Recent Business Highlights
- On track to initiate three Phase 1/2 clinical programs in the first half of 2021: PBGM01 for GM1 gangliosidosis (GM1), PBFT02 for frontotemporal dementia
About this update from Passage Bio, Inc.
[{"type":"text","content":"- On track to initiate three Phase 1/2 clinical programs in the first half of 2021: PBGM01 for GM1 gangliosidosis (GM1), PBFT02 for frontotemporal dementia with granulin mutations, and PBKR03 for Krabbe disease -- Opened first U.S. site for PBGM01’s Imagine-1 global clinical program and actively recruiting patients; other site activations in progress -- Opening new CMC research and development site to support analytics, assay development, and product testing in 2Q 2021 -- Strengthened financial position with recent public offering that raised $166M in net proceeds -- Management to host conference call today at 8:30 a.m. ET - PHILADELPHIA, March 03, 2021 (GLOBE NEWSWIRE) -- Passage Bio, Inc. (Nasdaq: PASG), a genetic medicines company focused on developing transformative therapies for rare, monogenic central nervous system disorders, today reported financial results for the fourth quarter and full year ended December 31, 2020 and provided recent business highlights. “At Passage Bio, we are on a mission to provide life-transforming therapies to patients with devastating CNS diseases, and we are pleased with the foundational work we accomplished in 2020 as we transition to a clinical-stage company in 2021,” said Bruce Goldsmith, Ph.D., president and chief executive officer of Passage Bio. “In the year ahead, our priorities are progressing three clinical development programs, all set to begin in the first half of 2021, and continuing to expand our pipeline and internal operations. We are confident that with the expertise of our talented internal team, our partnership with University of Pennsylvania’s Gene Therapy Program, and our relationships with patient and physician groups that we are well positioned for strong execution across all our upcoming milestones.” Recent Corporate Highlights On track to dose first patient in Imagine-1 trial evaluating PBGM01 for the treatment of infantile GM1 gangliosidosis: In January 2021, the company announced that U.S. Food and Drug Administration (FDA) cleared its Investigational New Drug (IND) application for PBGM01 for the treatment of infantile GM1 gangliosidosis (GM1), a rare and often life-threatening CNS disorder with no approved disease-modifying therapies. The company has activated its first site in the United States and is currently recruiting patients. PGBM01 has also received regulatory...