PALM BEACH, Florida, November 1, 2017 /PRNewswire/ --
AIT Therapeutics Inc. (OTC: AITB), a clinical-stage biopharmaceutical company focused on developing inhaled Nitric Oxide (NO) for the treatment of patients with respiratory conditions including serious lung infections and pulmonary hypertension, today announced it has entered into a letter of intent to acquire a global, exclusive, transferable license to the eNOGenerator and associated critical assets including intellectual property, know-how, trade secrets and confidential information from NitricGen, Inc. Read this and more news for AIt Therapeutics at: https://finance.yahoo.com/quote/AITB/press-releases?p=AITB. "This system has the potential to be transformative for the delivery of NO in any setting, and we have already completed extensive work incorporating the generator with the AIT system," stated Steve Lisi, chairman and chief executive officer of AIT Therapeutics. "Additionally, we welcome two outstanding executives, Fred Montgomery and Duncan Bathe, to AIT giving us the most elite NO systems team in the industry." A few of the key highlights of the technology and anticipated transaction:
• The AIT NO delivery system, which now incorporates the eNOGenerator, is designated a medical device at the Food and Drug Administration (FDA)
• The eNOGenerator can generate NO on demand for delivery to the lungs at concentrations ranging from 1 part per million (ppm) to 400 ppm
• The elimination of large, high-pressure cylinders for NO is a significant advantage in the hospital setting and potentially allows for use in the home setting
• The addition of Fred Montgomery and Duncan Bathe to the AIT team We plan to use the final commercial device in our pivotal trials in NTM and bronchiolitis, both of which are expected to begin in the second half of 2018.
In other biotech developments in the markets:
Mallinckrodt Public Limited Company (NYSE: MNK) closed up over 2% on Tuesday at $31.67 trading over 2.1 Million shares by the market close. Mallinckrodt, a leading global specialty pharmaceutical company, recently announced results from two company-sponsored surveys - the Multiple Sclerosis in America 2017 Survey (Poster P805) and a national patient survey conducted by Harris Poll (Poster P1267) - that suggest patient-reported multiple sclerosis (MS) relapse rates may be higher than often thought. The surveys found that approximately one in every two patients experiencing a relapse do not always report it to their healthcare provider (HCP). The findings are being presented at MSParis2017, the 7th Joint ECTRIMS-ACTRIMS Meeting, from October 25-28, in Paris, France.
Johnson & Johnson (NYSE: JNJ) closed down slightly on Tuesday after trading 4.8 Million shares by the market close. Third Pole Therapeutics earlier this year won the Johnson & Johnson Innovation award for a lighter device that provides an unlimited supply of nitric oxide (NO) to patients with pulmonary hypertension (PH) and other respiratory conditions. The beauty of Third Pole's Electric NO device, which won Johnson Innovation's JLABS @ M2D2 QuickFire Challenge, is that it could eliminate the need for gas cylinders. http://www.pole3.com/
ABLYNX NV (NASDAQ: ABLX) closed up over 2% on Tuesday at $20.80 by the market close. Ablynx is a Belgian biopharmaceutical company engaged in the development of Nanobodies®, proprietary therapeutic proteins based on single-domain antibody fragments. Today, the Company has approximately 45 proprietary and partnered programmes in development in various therapeutic areas including inflammation, haematology, immuno-oncology, oncology and respiratory disease.
Insmed Incorporated (NASDAQ: INSM) closed up slightly on Tuesday at $27.01 by the market close. Insmed Incorporated, a global biopharmaceutical company focused on the unmet needs of patients with rare diseases, recently announced that it will release its third quarter 2017 financial results on Thursday, November 2, 2017. Insmed management will host a conference call for investors beginning at 8:30 a.m. ET on Thursday, November 2, 2017 to discuss the financial results and provide a business update. Shareholders and other interested parties may participate in the conference call by dialing (844) 707-0669 (domestic) or (703) 639-1223 (international) and referencing conference ID number 5699819.
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