Tonix Pharmaceuticals Holding Corp (NASDAQ:TNXP) signed a deal with Inserm Transfert. As per the terms of the deal, Inserm, the Inserm Transfert parent, licensed its technology, which uses oxytocin-based therapeutics, to treat Prader Willi Syndrome.
Tonix expanded TNX-2900, an intranasal potentiated oxytocin development program, under a co-exclusive license from Inserm to cure Prader Willi Syndrome. The patent that covers the technology offers ME (market exclusivity) for the co-licensees in Europe and the US through 2031.
Seth Lederman, CEO of Tonix, said PWS (Prader Willi Syndrome) is a rare genetic disorder. It causes obesity in adulthood and childhood because of uncontrolled appetite. Currently, no approved treatments are available in the market to PWS. Tonix will provide treatment for PWS using the license obtained from Inserm Transfert.
Tonix will expand its ongoing efforts with TNX-2900 to provide an innovative cure for this new indication. The orphan disease PWS is observed in one in 15,000 births. Tonix will seek a fast track and orphan drug designation for its drug candidate TNX-2900 from US FDA.
Physical and behavioral problems
Children and adults with PWS suffer from behavioral, mental, and physical problems. An infant with PWS suffers poor muscle strength and lacks suckling. It leads to failure to thrive and malnutrition. PWS in children increases hunger consistently and leads to obesity. Tonix TNX-2900 improves suckling in baby animals. It also reduces feeding behaviors in animal models.
Collects funds of $70 million
Tonix sold 58.33 million common shares, each at $1.20, to mobilize $70 million on February 9, 2021. It is on the backdrop of registration statements on Form S3 filed with the US SEC.
Tonix regained compliance for continued listing on the global market for NASDAQ. The NASDAQ Stock Market LLC issued a letter to Tonix on March 3, 2021, allowing trading on its exchange because its shares trade at or above $1 for a minimum of 20 business days consecutively.
Tonix received a response for its Type B pre-IND meeting package from the US FDA on February 8, 2021. TNX-2100 will be used to find DTH (delayed-type hypersensitivity) reaction to the virus SARS-CoV-2 (CoV-2) that causes coronavirus.
TNX-2100 will measure the T cell immunity to SARS-CoV-2. CEO of Tonix, Seth, said the drug has great potential for measuring the T cell immunity to CoV-2. It will support the diagnosis for public health surveillance, patient care, and vaccine trials.