Bold Therapeutics Secures Funding to Prepare BOLD-100 for COVID-19 Clinical Trials
VANCOUVER, BC, Jan. 6, 2021 /PRNewswire/ — Bold Therapeutics, a clinical-stage biopharmaceutical company developing BOLD-100, is pleased to announce that it is one of only four companies selected to receive advisory services and research and development funding from the National Research Council of Canada Industrial Research Assistance Program (NRC IRAP) to support the company’s development of its antiviral asset, BOLD-100, as a novel antiviral therapy for SARS-CoV-2 (aka COVID-19). The funding from NRC IRAP will be utilized by Bold Therapeutics to support preparations for clinical trials including completion of nonclinical studies and manufacturing process development.
The original announcement by the National Research Council of Canada is available at bit.ly/2JRa4fQ.
BOLD-100 is a first-in-class ruthenium-based small molecule drug which selectively inhibits stress-induced upregulation of the chaperone protein GRP78. Currently, the investigational treatment is in a Phase 1b clinical trial in gastrointestinal cancer. In cancer, GRP78 plays a critical role in resistance, survival and proliferation, whereas in viral infections, GRP78 plays a critical role in host recognition, viral entry and viral replication. Preclinical studies have repeatedly demonstrated BOLD-100 has a robust antiviral response against COVID-19.
“We are thankful to have this support from NRC IRAP to continue developing BOLD-100 as an antiviral” stated Mark Bazett, PhD, Director of Preclinical Development of Bold Therapeutics. “We look forward to completing the next required set of nonclinical and manufacturing studies so that we can rapidly proceed into clinical trials.”
In June, Bold Therapeutics announced that it is working with five researchers as part of its COVID-19 Consortium: Stephen Barr, PhD (Western University); François Jean, PhD and Ted Steiner, MD (University of British Columbia); Marc-André Langlois, PhD, (University of Ottawa); and Len Seymour, PhD, (University of Oxford). These researchers continue to successfully demonstrate positive preclinical data that supports the continued development of BOLD-100 as an antiviral.
“Despite the increasing availability of vaccines, SARS-CoV-2 continues to pose significant challenges to healthcare systems worldwide, and the grim reality is that as it is not feasible to inoculate everyone, everywhere simultaneously, there is a significant ongoing risk that SARS-CoV-2 mutates to a degree that renders existing vaccines ineffective,” added E. Russell McAllister, CEO of Bold Therapeutics. “As a case-in-point, we are just now seeing the emergence of highly contagious mutant strains in the U.K. and South Africa which, despite our best efforts, will inevitably travel to Canada, the U.S. and elsewhere. Against this backdrop, effective antiviral therapeutics that reduce the duration and/or severity of infections is an increasingly critical part of Canada’s future pandemic response. Importantly, early data suggests that BOLD-100’s potentially broad antiviral mechanism-of-action will be effective against not just SARS-CoV-2, but other novel pandemic viruses including mutant strains of SARS-CoV-2, arming our beleaguered physicians with a potent therapeutic weapon in the war against COVID-19.”
For more information, please visit the COVID-19 section on Company’s website at www.bold-therapeutics.com/COVID-19.
E. Russell McAllister, CEO