Full Press Release Details
BiomX Reports Fourth Quarter and Full Year 2020
Financial Results and Provides Business Update
- Initiated Phase 2 cosmetic clinical study for BX001 in subjects with acne-prone skin; results expected from 8-week treatment period in Q3 2021
- Results from Phase 2 proof-of-concept clinical study of newly selected phage cocktail candidate, BX004, in cystic fibrosis expected to readout in Q4 2021
- Phase 2 proof-of-concept clinical study of newly selected phage cocktail candidate, BX005, in atopic dermatitis expected to initiate in second half of 2021
- Company will host a conference call and webcast today at 8:00 am ET
Ness Ziona, Israel -- March 31, 2021 -- BiomX Inc. (NYSE American:
PHGE) ("BiomX" or the "Company"), a clinical-stage microbiome company advancing
novel natural and engineered phage therapies that target specific pathogenic bacteria, today reported financial results and provided a
business update for the fourth quarter and full year ended December 31, 2020.
"2020 was a tremendous
year of growth for BiomX, as we expanded our pipeline with programs in cystic fibrosis and atopic dermatitis, both designed to address
unmet medical needs," said Jonathan Solomon, Chief Executive Officer of BiomX. "Fueled
by the rapid development capabilities of our novel BOLT platform, we are excited to announce today that we have selected two new phage
cocktail candidates, BX004 and BX005, for cystic fibrosis and atopic dermatitis, respectively."
Mr. Solomon added, "2021
is poised to be a year of multiple potential value inflection points for BiomX, due to anticipated efficacy data readouts from two Phase
2 clinical studies, BX001 in subjects with mild-to-moderate acne and BX004 in subjects with cystic fibrosis. Due to the historic safety
of phage therapies and the cutting-edge capabilities of our BOLT platform, we are accelerating toward additional efficacy readouts by
mid-2022 for our inflammatory bowel disease and atopic dermatitis programs, which are large market opportunities. We believe phage could
play a substantial role in the growing field of microbiome therapies."
RECENT HIGHLIGHTS AND KEY
Inflammatory Bowel Disease ("IBD") and Primary Sclerosing
Cystic Fibrosis ("CF")
Corporate and Business Highlights
Fourth Quarter and Full Year 2020 Financial Results
Conference Call and Webcast Information
BiomX management will host a conference call and webcast today at 8:00
am ET to report financial results and corporate updates for the fourth quarter and year ended December 31, 2020. To participate in the
conference, please dial 1-877-407-0724 (U.S.), 1-809-406-247 (Israel) or 1-201-389-0898 (International). A live and archived webcast of
the call will be available on the Investors section of the Company's website at www.biomx.com
Bacteriophage, or phage, are viruses that
target bacteria and are considered inert to mammalian cells. Phage are designed to target and kill specific bacterial species or strains
without disrupting other bacteria or the healthy microbiota. BiomX's phage-based product candidates derive from its proprietary
BOLT ("BacteriOphage Lead to Treatment") R&D platform that enables the company to rapidly develop, manufacture and formulate
rationally-designed phage combinations ("cocktails") of naturally occurring or synthetic phage to target pathogenic bacteria.
The phage cocktails contain multiple phage with complementary functions optimized through in vitro and in vivo testing.
BiomX is a clinical-stage microbiome company developing both natural
and engineered phage cocktails designed to target and destroy bacteria that affect the appearance of skin, as well as target bacteria
in the treatment of chronic diseases, such as inflammatory bowel disease, primary sclerosing cholangitis, cystic fibrosis, atopic dermatitis
and colorectal cancer. BiomX discovers and validates proprietary bacterial targets and customizes phage compositions against these targets.
Additional information is available at www.biomx.com, the content of
which does not form a part of this press release.
This press release contains express or implied "forward-looking
statements" within the meaning of the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act
of 1995. Forward-looking statements can be identified by words such as: "target," "believe," "expect,"
"will," "may," "anticipate," "estimate," "would," "positioned,"
"future," and other similar expressions that predict or indicate future events or trends or that are not statements of historical
matters. For example, when BiomX discusses potential markets opportunities, the capabilities of the BOLT platform, the design, aim, expected
timing, and interim and final results of its preclinical and clinical trials and studies, the sufficiency of its existing cash, cash
equivalents and short-term deposits, its pipeline and the potential of its product candidates, BiomX is making forward-looking statements.
Forward-looking statements are neither historical facts nor assurances of future performance. Instead, they are based only on BiomX management's
current beliefs, expectations and assumptions. Because forward-looking statements relate to the future, they are subject to inherent
uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside of BiomX control. Actual
results and outcomes may differ materially from those indicated in the forward-looking statements. Therefore, investors should not rely
on any of these forward-looking statements and should review the risks and uncertainties described under the caption "Risk Factors"
in BiomX's Current Report on Form 8-K filed with the Securities and Exchange Commission (the "SEC") on December 4,
2020 and additional disclosures BiomX makes in its filings with the Securities and Exchange Commission (the "SEC"), which
are available on the SEC's website at www.sec.gov. Forward-looking statements are made as of the date of this press release, and
except as provided by law BiomX expressly disclaims any obligation or undertaking to update forward-looking statements.
Courtney Solberg, Solebury Trout