Mateon and GMP Completed Research and Service Agreement
AGOURA HILLS, Calif., June 22, 2020 (GLOBE NEWSWIRE) -- Mateon Therapeutics, Inc. (“Mateon” or the “Company”) (OTCQB:MATN) announces that both Golden Mountain Partners (GMP) and Mateon have fulfilled all the obligations under the Research and Services Agreement (the “Agreement”) entered on February 3, 2020 and modified on March 22, 2020. The terms and obligations of the agreements have been met by both parties. GMP and Mateon are now moving forward with the clinical development of OT-101, Artemisinin, and other antisense drug candidates against SAR-CoV-2 (COVID-19).
“GMP and Mateon are working tirelessly to ensure that OT-101 and Artemisinin prove to be safe and efficacious for patients with COVID-19. In aggregate GMP has invested >$1.2M in non-dilutive funding in this project allowing us to move quickly to clinical development,” said Amit Shah, CFO, Mateon Therapeutics. “We hope that these agents will be available to patients during the coming second wave of COVID-19.”
OT-101 is an antisense against host TGF-ß protein required for viral replication and its overexpression likely to cause the wide range of clinical symptoms associated with COVID-19 including Kawasaki syndrome (Fatih M. Uckun, Vuong Trieu. Targeting Transforming Growth Factor-beta for Treatment of COVID-19-associated Kawasaki Disease in Children. Clin Res Pediatr 2020; 3(1): 1-3) and ARDS (Fatih M. Uckun, Larn Hwang, Vuong Trieu. Selectively targeting TGF-ß with Trabedersen/OT-101 in treatment of evolving and mild ARDS in COVID-19. Clin. Invest. (Lond.) 2020; 10(2), 167-176. DOI: 10.4172/ Clinical-Investigation.1000166.).
We are looking to engage government agencies such as Biomedical Advanced Research and Development Authority/National Institutes of Health and UK National Institute for Health Research to accelerate the development an effective treatment for COVID-19.
About Mateon’s Lead Product Candidate, OT-101
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