Full Press Release Details
Barinthus Bio Provides a Financial Update and
Announces Anticipated 2024 Corporate Milestones
Cash runway anticipated to be extended from Q2 2025 to Q4 2025
Data from multiple Phase 1 and 2 clinical trials expected in 2024
OXFORD, United Kingdom, Jan. 5, 2024 (GLOBE NEWSWIRE) -- Barinthus
Biotherapeutics plc (NASDAQ: BRNS), formerly Vaccitech plc, today provided a preliminary financial update and announced its 2024 corporate
objectives. Barinthus Bio is a clinical-stage biopharmaceutical company developing novel T cell immunotherapeutic candidates designed
to guide the immune system to overcome chronic infectious diseases, autoimmunity, and cancer.
"2024 promises to be another exciting year for Barinthus
Bio, with multiple data readouts expected across our hepatitis B virus (HBV) infection, human papillomavirus (HPV) infection and
prostate cancer programs, as well as the planned initiation of the first in human study of our SNAP platform-based candidate
VTP-1000 in Celiac Disease," said Gemma Brown, Chief Financial Officer of Barinthus Bio. "Given the encouraging
preliminary data in HBV and HPV infection and to maximise value for our stakeholders, we are focusing resources and deferring the
planned IND application for VTP-1100 in HPV cancer. As a result of this, as well as the strategic phasing of manufacturing across
our pipeline to focus on progressing our Phase 2 trials, we anticipate that our cash runway has extended from Q2 2025 to Q4
Anticipated 2024 Corporate Milestones:
Barinthus Bio Product Pipeline:
* Barinthus Bio has worldwide rights for all product candidates.
1 The preliminary estimate
of cash and cash equivalents reflect management's current views and and may change as a result of management's review of results
and other factors, including a wide variety of significant business, economic and competitive risks and uncertainties. Such preliminary
financial information is subject to the finalization and closing of the accounting books and records of Barinthus Bio (which have yet
to be performed) and should not be viewed as a substitute for full audited financial statements prepared in accordance with U.S. GAAP.
In the course of preparing and finalizing the financial statements for the year ended December 31, 2023, the preliminary estimates of
cash and cash equivalents for the year ended December 31, 2023 will be subject to change and Barinthus Bio may identify items that will
require it to make adjustments to its preliminary estimates of its cash and cash equivalents. Any such changes could be material. For
these or other reasons, the preliminary estimates of Barinthus Bio's cash and cash equivalents for the year ended December 31, 2023
may not ultimately be indicative of its results for such period and actual results may differ materially. No independent registered public
accounting firm has audited, reviewed or compiled, examined or performed any procedures with respect to these preliminary estimated results,
nor have they expressed any opinion or any other form of assurance on these preliminary estimated results.
About Barinthus Biotherapeutics
Bio is a clinical-stage biopharmaceutical company developing novel T cell immunotherapeutic candidates designed to guide the immune
system to overcome chronic infectious diseases, autoimmunity, and cancer. Helping people living with serious diseases and their
families is the guiding principle at the heart of Barinthus Bio. With a broad pipeline, built around three proprietary platform
technologies: ChAdOx, MVA and SNAP; Barinthus Bio is advancing a pipeline of four product candidates across a diverse range of
therapeutic areas, including: VTP-300, an immunotherapeutic candidate designed as a potential component of a functional cure for
chronic HBV infection; VTP-200, a non-surgical product candidate for persistent high-risk HPV infection; VTP-1000, an autoimmune candidate
designed to utilize the SNAP-Tolerance Immunotherapy (TI) platform to treat patients with celiac disease; and VTP-850, a
second-generation immunotherapeutic candidate designed to treat recurrent prostate cancer. Barinthus Bio's proven scientific
expertise, diverse portfolio and focus on pipeline development uniquely positions the company to navigate towards delivering
treatments for people with infectious diseases, autoimmunity and cancers that have a significant impact on their everyday lives. For
more information, visit www.barinthusbio.com.
Forward Looking Statements
This press release contains forward-looking
statements regarding Barinthus Bio within the meaning of the Private Securities Litigation Reform Act of 1995, as amended, which can
generally be identified as such by use of the words "may," "will," "plan,"
"forward," "encouraging," "believe," "potential," and similar expressions, although
not all forward-looking statements contain these identifying words. These forward-looking statements include, without limitation,
express or implied statements regarding our future expectations, plans and prospects, including our product
development activities and clinical trials, including timing for readouts of any interim data for any of our programs, our
anticipated regulatory filings and approvals, our preliminary estimated cash and cash equivalents, our cash runway, and our ability
to develop and advance our current and future product candidates and programs. Any forward-looking statements in this press
release are based on our management's current expectations and beliefs and are subject to numerous risks, uncertainties and
important factors that may cause actual events or results to differ materially from those expressed or implied by any
forward-looking statements contained in this press release, including, without limitation, risks and uncertainties related to the
success, cost and timing of our pipeline development activities and planned and ongoing clinical trials, our ability to execute on
our strategy, regulatory developments, the risk that we may not realize the benefits related to our rebranding and name change, our
ability to fund our operations and access capital, our preliminary estimates of our cash and cash equivalents and cash runway,
including the risk that final financial results may differ materially from our preliminary estimates, global economic uncertainty,
including disruptions in the banking industry, the conflict in Ukraine, the conflict in Israel and Gaza, and other risks identified
in our filings with the Securities and Exchange Commission (the "SEC"), including our Annual Report on Form 10-K for the
year ended December 31, 2022, our Quarterly Reports on Form 10-Q and subsequent filings with the SEC. We caution you not to place
undue reliance on any forward-looking statements, which speak only as of the date they are made. We expressly disclaim any
obligation to publicly update or revise any such statements to reflect any change in expectations or in events, conditions or circumstances
on which any such statements may be based, or that may affect the likelihood that actual results will differ from those set forth in
the forward-looking statements.