PYC Therapeutics Highlights Continued Progress of Ocular and CNS Pipeline Programs and US Expansion in First Quarter Update – BioSpace

NEW YORK and PERTH, Australia, April 30, 2021 /PRNewswire/ --PYC Therapeutics (ASX: PYC), a biotechnology company developing a new generation of precision RNA therapeutics to change the lives of patients with inherited diseases, today announced a first quarter update highlighting the progress of its development pipeline, growth of its U.S. operations and upcoming milestones.

"PYC has had an exciting quarter of progress against our Company objectives. We have achieved continued validation of our PPMO technology in our lead candidate VP-001 for retinitis pigmentosa type 11, further development of our ocular pipeline as well as PYC's first set of preclinical data from our CNS discovery efforts demonstrating superior delivery of RNA therapeutic throughout the brain and spinal cord. The potential of our pioneering PPMO technology is vast and we look forward to advancing this technology to provide solutions for patients with inherited ocular and neurodegenerative diseases for whom treatment options are either limited or unavailable today," said Sahm Nasseri, U.S. Chief Executive Officer of PYC Therapeutics. "This quarter, we also expanded our U.S. operations with key leadership appointments and engagements with the U.S. biotech ecosystem, underscoring the significant steps we are taking towards our transformational goal of becoming a multi-asset clinical stage biotechnology company. PYC is well positioned to maintain this momentum into the second quarter of 2021 with important larger animal studies commencing for VP-001, deeper development of VP-002 and into the balance of 2021 with continued development of our pipeline in both the eye and the CNS."

"This is a transformational time for PYC. For some time, we've had significant excitement in our PPMO technology's potential for impact in treating numerous genetic and acquired diseases and it's truly humbling to see that excitement being translated into results through both our lead program development, and our technology's continued validation," commented Alan Tribe, Chairman of PYC Therapeutics.

Recent Achievements

Inherited Ocular Diseases:

Central Nervous System (CNS) Diseases:

Corporate Initiatives:

"We continue to execute on the strategic goals we laid out to advance our transformation from an Australia-based discovery-focused organization into an Australia and U.S.-based multi-asset clinical stage biotechnology company," continued Mr. Nasseri, U.S. CEO of PYC. "We look forward to sharing continued progress this year, including achieving our preclinical data milestones for all three of our defined programs in ocular diseases and announcing our CNS candidate, as we further validate our PPMO technology platform across indications to develop treatments for patients with a range of significant unmet needs."

About PYC TherapeuticsPYC Therapeutics (ASX: PYC) is a development-stage biotechnology company pioneering a new generation of RNA therapeutics that utilize PYC's proprietary library of naturally derived cell penetrating peptides to overcome the major challenges of current genetic medicines. PYC believes its PPMO (Peptide conjugated Phosphorodiamidate Morpholino Oligomer) technology enables a safer and more effective RNA therapeutic to address the underlying drivers of a range of genetic diseases for which no treatment solutions exist today. The Company is leveraging its leading-edge science to develop a pipeline of novel therapies including three preclinical stage programs focused on inherited eye diseases and preclinical discovery efforts focused on neurodegenerative diseases. PYC's discovery and laboratory operations are located in Australia, and the Company recently launched an expansion into the U.S. for its preclinical, clinical, regulatory and corporate operations. For more information, visit pyctx.com, or follow us on LinkedIn and Twitter.

Forward looking statementsAny forward-looking statements in this ASX announcement have been prepared on the basis of a number of assumptions which may prove incorrect and the current intentions, plans, expectations and beliefs about future events are subject to risks, uncertainties and other factors, many of which are outside the Company's control. Important factors that could cause actual results to differ materially from assumptions or expectations expressed or implied in this ASX announcement include known and unknown risks. Because actual results could differ materially to assumptions made and the Company's current intentions, plans, expectations and beliefs about the future, you are urged to view all forward-looking statements contained in this ASX announcement with caution. The Company undertakes no obligation to publicly update any forward-looking statement whether as a result of new information, future events or otherwise.

1Preclincial models for Adeno-Associated Virus (AAV) delivered DNA therapies have not been demonstration in this in preclinical testing, See Brydon EM, Bronstein R, Buskin A, Lako M, Pierce EA, Fernandez-Godino R. AAV-Mediated Gene Augmentation Therapy Restores Critical Functions in Mutant PRPF31+/- iPSC-Derived RPE Cells. Mol Ther Methods Clin Dev. 2019 Nov 11;15:392-402.2Yu-Wai-Man P, et al. The prevalence and natural history of dominant optic atrophy due to OPA1 mutations. Ophthalmology. 2010 Aug;117(8):1538-46, 1546.e1; Lenaers G, Hamel C, Delettre C, et al. Dominant optic atrophy. Orphanet J Rare Dis. 2012;7:46. Published 2012 Jul 9. 63GBD 2016 Neurology Collaborators. Global, regional, and national burden of neurological disorders, 1990-2016: a systematic analysis for the Global Burden of Disease Study 2016. Lancet Neurol. 2019 Parkinson included in 'rarer disease' to distinguish from Alzheimer's.

CONTACTS:

INVESTORSDeborah Elson/Matthew DeYoungArgot Partnersdeborah@argotpartners.commatthew@argotpartners.com

MEDIALeo VartorellaArgot Partnersleo@argotpartners.com

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PYC Therapeutics Highlights Continued Progress of Ocular and CNS Pipeline Programs and US Expansion in First Quarter Update - BioSpace