Full Press Release Details
BiomX Reports Third Quarter 2020 Financial
Results and Announces Expanded Portfolio of Phage Therapy Candidates
Company unveils BOLT (BacteriOphage
Lead to Treatment) platform designed for more rapid and efficient development of phage therapy
BOLT enables the Company to expand portfolio
with two additional phage therapy programs in cystic fibrosis and atopic dermatitis and allows consolidation of two programs into
one product candidate, BX003, for the treatment of both inflammatory bowel disease (IBD) and primary sclerosing cholangitis (PSC)
Company to host conference call today
at 8:00 a.m. Eastern Time
Ness Ziona, Israel - November 12, 2020 - BiomX
Inc. (NYSE American: PHGE), a clinical stage company developing natural and engineered phage therapies targeting specific pathogenic
bacteria, today reported financial results and a business update for the third quarter ended September 30, 2020.
"BiomX continues to lead in the field of phage therapy
by implementing proprietary processes for accelerated development," commented Jonathan Solomon, Chief Executive Officer of
BiomX. "Our novel BOLT platform, which is the result of an accumulated five years of technological development, significantly
reduces the time required to reach clinical proof-of-concept. The improved efficiency of this platform allows us to expand our
portfolio with two significant new programs without affecting our projected cash runway."
Continued Mr. Solomon, "This expansion includes near term
opportunities with phage therapy candidates. We expect clinical proof of concept results in patients for cystic fibrosis and atopic
dermatitis by the end of 2021 and mid-2022, respectively. Improvements in R&D also allow for the consolidation of our inflammatory
bowel disease (IBD) and primary sclerosing cholangitis (PSC) programs. We now have one improved, broad host range product candidate,
BX003, targeting Klebsiella pneumoniae, a potential pathogen implicated in both diseases to be developed for both indications.
The consolidation of these programs results in an updated timeline for Phase 1b/2a results with BX003 expected in mid-2022. In
addition, we expect data from a planned Phase 2 cosmetic clinical study in acne-prone skin in the second quarter of 2021."
About the BOLT Platform
The newly unveiled BOLT ("BacteriOphage Lead to Treatment")
R&D platform enables BiomX to rapidly develop, manufacture and formulate a phage treatment targeting a given pathogenic bacteria.
The platform allows BiomX to conduct an initial clinical proof of concept study in patients (Phase 2 results) within approximately
12-18 months of project initiation1. The ability to move quickly into clinical development is also driven by the strong
safety profile of naturally-occurring phage, as corroborated by regulatory guidance provided to BiomX by the FDA as relating to
its IBD program, allowing the Company to bypass safety studies and studies in healthy volunteers and to proceed directly to patient
Recent Highlights and Key Upcoming Milestones
Tumor-Targeted Delivery in Cancer
Biomarker Discovery Collaboration with Boehringer Ingelheim
Third Quarter 2020 Financial Results
Financial Expectations
Conference Call Details
BiomX management will host a conference call and webcast today
at 8:00 a.m. ET to report financial results for the third quarter of 2020 and provide business updates. To participate in the conference
call, 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 in the Investors section of the company's website at www.biomx.com.
BiomX is a clinical-stage biotechnology 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 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.
Safe Harbor Language
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 the potential opportunities for and benefits of the BOLT platform, the
expected timing of initiation and receipt of results from its various pre-clinical and clinical studies as well as the acceptance
of regulatory agencies of the design thereof, its collaboration with Boehringer Ingelheim and the potential thereof and the sufficiency
of its funding through mid-2022, 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 most recent Annual Report on Form 10-K and Quarterly Report on Form 10-Q 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.
VP Investor Relations and Strategy
Rich Allan, Solebury Trout