PhaseBio Pharmaceuticals (PHAS) is trading higher based on a new recent co-development collaboration with SFJ Pharmaceuticals for PB2452.
PhaseBio Pharmaceuticals is a clinical stage biopharmaceutical company focused on development and commercialization of novel therapies for cardiopulmonary diseases.
Today, the company has announced that it has acquired financing and a co-development collaboration with SFJ Pharmaceuticals to support the PB2452 candidate.
This candidate is a reversal agent for antiplatelet therapy ticagrelor. SFJ Pharmaceuticals is a global drug development company backed by Blackstone Life Sciences and Abingworth.
The collaboration will support global development of the candidate and under the agreement, SFJ has agreed to fund $120 million to support the development of the candidate and to assume a central role in global clinical development as well as regulatory activities for PB2452 outside the United States.
In addition, SFJ will fund up to $90 million of development expenses through the end of 2021 and up to an additional $30 million based on PhaseBio meeting specific, pre-clinical milestones for the candidate PB2452.
PhaseBio Pharmaceutical (PHAS)’s PB2452 Candidate
PB2452 is a novel, recombinant, human monoclonal antibody antigen-binding fragment designed to reverse the antiplatelet activity of ticagrelor in major bleeding and urgent surgery situations.
In a Phase 1 clinical trial, PB2452 demonstrated the potential to bring life-saving therapeutic benefit through immediate and sustained reversal of ticagrelor’s antiplatelet activity, mitigating concerns regarding bleeding risks associated with the use of antiplatelet drugs.
The Phase 1 clinical trial of PB2452 in healthy volunteers was published in the New England Journal of Medicine in March 2019.
In April 2019, PB2452 received Breakthrough Therapy designation from the FDA. Breakthrough Therapy designation may be granted by FDA when preliminary clinical evidence indicates that the drug may demonstrate substantial improvement over existing therapy.
PhaseBio plans to initiate a single pivotal Phase 3 clinical trial of PB2452 in the first quarter of 2020 to support a BLA for PB2452 in both major bleeding and urgent surgery indications. There are currently no approved reversal agents for ticagrelor or any other antiplatelet drugs.
Should you buy PhaseBio Pharmaceuticals (PHAS)?
Yes, you should buy PhaseBio Pharmaceuticals. It’s a good set up since JPM Healthcare Conference starts next week, it would be a great time to hold this stock, we also recommend holding some shares of Aptose Biosciences (APTO) throughout JPM week.
