Business
Homology Medicines Reports First Quarter 2022 Financial Results and Recent Highlights
- $130 Million in Non-Dilutive Capital Strengthened Financial Position - - Presentations at Upcoming ASGCT Annual Meeting Include First-Time Details of
About this update from Q32 Bio Inc.
[{"type":"text","content":"- $130 Million in Non-Dilutive Capital Strengthened Financial Position - - Presentations at Upcoming ASGCT Annual Meeting Include First-Time Details of Mechanism of Action of Nuclease-Free Gene Editing Candidate HMI-103 for PKU; Symposium to Feature Lead Principal Investigator for the pheEDIT Trial - - Additional Presentations on GTx-mAb Platform and Characterization of Proprietary AAVHSC Capsid with Low Liver Tropism - - Submitted Response to FDA with Information Requested for pheNIX Gene Therapy Trial Clinical Hold - BEDFORD, Mass., May 16, 2022 (GLOBE NEWSWIRE) -- Homology Medicines, Inc. (Nasdaq: FIXX), a genetic medicines company, announced today financial results for the first quarter ended March 31, 2022, and highlighted recent accomplishments. “During the first quarter of 2022, we took additional steps to pave the way for Homology’s success,” said Arthur Tzianabos, Ph.D., Chief Executive Officer of Homology Medicines. “We established a new Manufacturing and Innovation Business with Oxford Biomedica to leverage what we built early on at Homology as an industry leader in AAV process development and manufacturing. The unique structure of the deal provides us with ownership in the new company and preferred customer access to the team and capabilities that has and will continue to support our clinical trials and pipeline. Importantly, we believe that the $130 million upfront payment from OXB provides us with ample cash to achieve important milestones across all of our programs. With a continued focus on clinical execution and advancing our pipeline, we promoted Albert Seymour to President of Homology, expanding his role as Chief Scientific Officer to oversee clinical development, human resources and commercial operations.” Albert Seymour, Ph.D., President and Chief Scientific Officer of Homology Medicines, added, “We are excited to present the details behind our optimized HMI-103 gene editing candidate for PKU for the first time at ASGCT this week. We believe that the novel mechanism of action of this integrating vector will represent an important advance in the field of gene editing. Among multiple other presentations at ASGCT, we plan to share data characterizing a capsid from our family of novel AAVHSCs that has low affinity for the liver after I.V. administration but retains tropism for other cell types. As a result, we b...