Vyant Bio (NASDAQ:VYNT) Inc revealed that it is advancing its repurposed drug candidate, VYNT-0126 to treat Rett Syndrome, into clinical trials early next year based on pre-clinical efficacy data and following encouragement and guidance from the International Rett Syndrome Foundation (IRSF), the company said as it posted second-quarter results.
"With our preclinical data with VYNT-0126, which we believe is compelling, we met with the Clinical Trial Committee of the International Rett Syndrome Foundation on July 19, 2022, to receive their feedback and guidance on our plans to conduct a proof-of-concept clinical trial of VYNT-0126 in adult Rett patients in Australia,” Vyant chief scientific officer Robert Fremeau said in a statement accompanying the results.
“We are on track to submit our clinical trial application to the Ethics Committee in Australia in the third quarter of 2022 for a trial to begin in early 2023. In addition, we have initiated a collaboration with the IRSF to advance VYNT-0126 into a proof-of-concept clinical trial in pediatric Rett patients in the US and anticipate filing an IND (Investigational New Drug Application) with the FDA for the pediatric study in 2023,” he added.
READ: Vyant Bio ends 1Q with $16.4M in cash to fund small molecule therapeutics research for neurological diseases
Vyant, an innovative biotechnology company reinventing drug discovery for complex neurodevelopmental and neurodegenerative disorders, identified the US Food & Drug Administration (FDA) approved VYNT-0126 clinical candidate for Rett Syndrome through a robust rescue of disease phenotype in vitro using proprietary high throughput screening technology.
"We believe there are significant value creation drivers unique to Vyant Bio in the drug discovery sector. The traditional 'target-based' approach to discovering and developing treatments for neurological diseases is not ideal,” said Vyant CEO Jay Roberts.
“Current approaches are expensive, inefficient, and almost always unsuccessful. What differentiates Vyant Bio is our 'disease-first' approach that brings a human understanding of disease biology into the lab, providing a greater level of certainty to neurological drug discovery," he added.
Vyant said it will share its human pre-clinical efficacy data for VYNT-0126 in two talks at the Rett Symposium at the Annual Meeting of the Society for Neuroscience on November 16, 2022.
Looking at its financials, the Cherry Hill, New Jersey-based company said it ended the second quarter with cash and cash equivalents of $11.7 million.
In the first half of 2022, Vyant implemented an up to $14.5 million at the market (ATM) financing vehicle with Cannacord Genuity and another equity line of credit facility with Lincoln Park Capital for up to $15 million.
The company's current cash, proceeds from the sale of vivoPharm, which is expected this year, the equity line of credit, and the ATM, are expected to fund operations for the next 18 months.
Further details on the second quarter results can be found here.
Contact the author at jon.hopkins@proactiveinvestors.com