PharmAbcine Announces Safety Approval for 4mg Single-dose Cohort in Phase 1 Clinical Trial of PMC-403 for Neovascular Age-related Macular Degeneration

• Safety Review Committee (SRC) approves single ascending dose 4mg cohort in Phase 1 trial of PMC-403, preparing for multiple ascending dose 4 mg cohort.
• PMC-403 is being explored in broader therapeutic areas, including rare vascular disease systemic capillary leak syndrome (SCLS) and kidney diseases.

DAEJEON, South Korea, Oct. 15, 2024 /PRNewswire/ -- PharmAbcine, Inc. (KOSDAQ: 208340), a clinical-stage public company developing next-generation therapeutics to address unmet medical needs, today announced that its TIE2-activating antibody candidate, PMC-403, has received unanimous safety approval from the Safety Review Committee (SRC) for the 4mg single ascending dose (SAD) cohort in its Phase 1 clinical trial for neovascular age-related macular degeneration (nAMD). The Company is now preparing to begin enrollment for the 4mg multiple ascending dose (MAD) cohort.

PMC-403 is a novel TIE2-activating antibody with a unique mechanism that stabilizes pathological, leaky blood vessels. TIE2 receptors, expressed on endothelial cells, play a critical role in vessel normalization processes such as angiogenesis and intercellular adhesion, thereby inhibiting the progression of AMD.

This Phase 1 trial targets patients with neovascular AMD who no longer respond to anti-VEGF standard therapies. The safety and tolerability of the 4mg single dose were successfully confirmed, laying the groundwork for advancing to the multiple-dosing phase.

Dr. Weon Sup Lee, Head of R&D and Chief Technology Officer at PharmAbcine, stated, "The successful completion of the 4mg single-dose study is a significant milestone, highlighting the potential of PMC-403 as a breakthrough treatment for AMD. As we move forward with the multiple-dose study, we aim to gather additional safety and efficacy data to establish a robust foundation for Phase 2 trials."

Macular degeneration, a leading cause of blindness, results from aging-related damage to the retina, particularly due to the development of abnormal blood vessels in the macula. The global aging population has led to a rapid increase in cases, and current treatments with anti-VEGF inhibitors are often insufficient for complete treatment. Consequently, there is a growing demand for therapies with novel mechanisms of action.

PharmAbcine plans to continue its research with the goal of initiating a Phase 2 trial after confirming the safety and efficacy of the 4mg multiple-dose cohort. The Company expects PMC-403 to play a pivotal role in the global market for AMD treatments.

Beyond ophthalmology, PMC-403 is being explored in therapeutic areas, including vascular-related rare diseases, Acute Respiratory Distress Syndrome, Inflammatory Bowel Disease, Duchenne Muscular Dystrophy, Traumatic Spinal Cord Injury, oncology and kidney diseases. The Company has collaborated with Dr. Kirk Druey, former Chief of the NIH's Lung and Vascular Inflammation Section, to explore PMC-403's efficacy in animal models for Systemic Capillary Leak Syndrome (SCLS, also known as Clarkson disease). In a recent interview, Dr. Druey expressed excitement about PMC-403's potential in treating SCLS patients. While there is currently no approved treatment for SCLS, PMC-403 received Orphan Drug Designation (ODD) from the U.S. FDA for the treatment of SCLS on February 21, 2023.

For more information about the Phase 1 clinical trial for neovascular age-related macular degeneration (nAMD), please visit (https://clinicaltrials.gov/study/NCT05953012).

For more information about PMC-403 in SCLS, please visit Dr. Druey's interview on the NIH "I am Intramural" blog (https://irp.nih.gov/blog/post/2024/03/experimental-antibody-tightens-up-leaky-blood-vessels).

About PharmAbcine Inc.

PharmAbcine is a clinical-stage public company developing next-generation IgG-based therapeutics to treat cancer, neovascular eye diseases, and unmet vascular-related needs.

The Company's main pipeline includes clinical assets olinvacimab, PMC-403, and PMC-309.

Olinvacimab, the Company's lead asset, is undergoing a Phase II trial in combination with MSD's pembrolizumab for mTNBC patients in Australia to reconfirm the encouraging results from a Phase Ib olinvacimab plus pembrolizumab trial, which delivered 50% ORR, 67% DCR, and a clean safety profile.

PMC-403 is a novel TIE2-activating antibody that stabilizes dysfunctional, leaky, and disorganized pathological vessels. It is being tested for neovascular AMD in Phase 1 trials in Korea. PMC-403 is also being explored in other therapeutic areas related to pathological blood vessels, including rare and non-rare vascular-related diseases.

PMC-309, a novel anti-VISTA antagonist IgG effective in pan-pH conditions, is an immune checkpoint regulator targeting MDSC (myeloid-derived suppressor cells) and M2 macrophages, which play a pivotal role in maintaining an immunosuppressive tumor microenvironment. A Phase I study is ongoing in Australia, and a Phase Ib/II study combining PMC-309 with pembrolizumab is planned.

For additional information about PharmAbcine, visit www.pharmabcine.com or follow us on YouTube and LinkedIn.

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