Indaptus Therapeutics Reports Third Quarter 2024 Financial Results and Provides Corporate Update

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Indaptus Therapeutics
Indaptus Therapeutics

NEW YORK, Nov. 12, 2024 (GLOBE NEWSWIRE) -- Indaptus Therapeutics, Inc. (Nasdaq: INDP) (“Indaptus” or the “Company”), a clinical stage biotechnology company dedicated to pioneering innovative cancer and viral infection treatments, today announced financial results for the third quarter ended September 30, 2024, and provided a corporate update.

Jeffrey Meckler, Indaptus Therapeutics’ Chief Executive Officer, commented, “The recent announcement highlighting our clinical supply agreement with BeiGene is an important milestone, representing a significant step forward in our clinical development as we plan the first clinical trial combining BeiGene's anti-PD-1 antibody, tislelizumab, with Indaptus’ Decoy20 product candidate for cancer treatment. PD-1 inhibitors have proven meaningful in treating multiple cancer types, and we are optimistic that we can improve patient outcomes by broadly and safely stimulating the immune system to enhance the effectiveness of currently approved treatments. We have also progressed our Phase 1 clinical trial to now allow for unrestricted enrollment of patients in weekly administration at the lower Decoy20 dose, which will enable us to gather more safety and efficacy data, which is important for assessing the full potential of Decoy20. Those data will guide how we initiate the combination trial next year. To date, Decoy20 continues to be well tolerated and we are anxiously awaiting further outcomes, which we will report as the trial progresses. We continue to carefully manage our resources and will provide status updates as they develop.”

Key recent highlights:

  • Announced clinical supply agreement with BeiGene to evaluate novel cancer treatment combinations for the treatment of patients with advanced solid tumors

  • Initiated unrestricted enrollment of patients in Indaptus’ Phase 1 clinical trial of Decoy20 allowing for weekly dosing based on encouraging safety data

  • Announced that Dr. Michael Newman, Founder and Chief Scientific Officer, has published his groundbreaking research in the peer-reviewed journal, Frontiers in Immunology. The article was titled, "Invention and Characterization of a Systemically Administered, Attenuated and Killed Bacteria-Based Multiple Immune Receptor Agonist for Antitumor Immunotherapy"

  • Completed a $3 million registered direct offering and concurrent private placement on August 8, 2024 (the “August 2024 Offering”), for net proceeds of approximately $2.5 million

  • Participated in Lumanity webinar regarding the future of innate immunity in cancer immunotherapy


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