Prevail Partners, LLC investment priced at
more than a 40% premium to market
Prevail InfoWorks, Inc. to act as Clinical
Research Organization partner; global full service CRO with
hundreds of clinical trials over a decade
TNF Pharmaceuticals fully funded for
clinical trials for next two years
TNF Pharmaceuticals, Inc. (Nasdaq: TNFA) (“TNFA” or the
“Company”), a clinical stage biopharmaceutical company committed to
developing novel oral therapies for autoimmune and inflammatory
conditions, today announced that it has secured a strategic equity
investment, priced at a 20% premium to a 30-trading days volume
weighted average price (VWAP), from Prevail Partners, LLC, a U.S.
investment fund focused on life sciences companies. The Company has
engaged global full-service Clinical Research Organization (CRO)
Prevail InfoWorks, Inc., an affiliate of Prevail Partners, to
provide clinical services for the next Phase 2 clinical study using
our proprietary drug in sarcopenia/frailty.
“Prevail Partners, a corporate strategic evergreen fund, selects
life sciences companies developing novel and breakthrough
therapeutics. The fund’s investment in TNFA points to their
confidence in our potent oral synthetic TNF-alpha (TNFα-inhibitor
MYMD-1’s potential to transform how TNFα-based diseases are
treated,” said Mitchell Glass, M.D., President and Chief Medical
Officer of the Company. “Prevail InfoWorks recently received
industry recognition as the most advanced tech-enabled CRO, and our
study will benefit from their unique experience and expertise. We
are excited about our new partners and our close alignment of
interests in executing our upcoming clinical studies efficiently
and effectively.”
Prevail Partners has agreed to purchase 283,019 shares of TNFA
common stock at a price of $2.12 per share, representing a 20%
premium to the Company’s 30-trading days VWAP as of the closing
date of October 1, 2024.
TNFA lead drug candidate, presently designated MYMD-1, is a
novel, orally dosed TNFα inhibitor drug for treating multiple
conditions related to immune-metabolic dysregulation. MYMD-1 blocks
the activity of excess TNFα which supports restoration of control
and regulation of the immune system. A successful small Phase 2
study evaluating the safety and efficacy of MYMD-1 as a treatment
for sarcopenia was completed in 2023. The statistically significant
positive results of the study met primary endpoints for
significantly reducing chronic inflammatory markers.
Sarcopenia is the progressive loss of muscle mass and strength,
commonly affecting the elderly population due to aging. Sarcopenia
affects approximate 10% to 16% of the elderly worldwide.1
Sarcopenia can also affect people with a high body mass index
(BMI) in a condition called sarcopenic obesity. Sarcopenia is
estimated to affect more than 1 in every 10 young adults of most
ethnicities.2
The sarcopenia treatment market is estimated to be $3.07 billion
in 2024 and is expected to grow at a CAGR of 4.48% to $4.02 billion
by 2029.3 With no FDA-approved treatments for sarcopenia, the
estimated $40+ billion in related hospitalization costs is a
considerable economic burden on the U.S. healthcare system.4
About Prevail Partners, LLC
Prevail Partners (www.prevailpartners.com) is an
investment fund focused on life sciences companies. The fund is
designed to take advantage of the attractive returns possible in
promising scientific advances in the life science fields of
therapeutics, preventive treatments and medical devices. A uniquely
favorable feature of the fund is that Prevail InfoWorks applies
proprietary technologies and services to equip companies in which
the fund invests, giving investors and strategic licensing partners
the comfort that the clinical trials have a higher likelihood of
success.
About Prevail InfoWorks, Inc.
For over a decade, Prevail InfoWorks
(www.prevailinfoworks.com) has been dedicated to providing
life science companies with the most innovative and complete
technology and service solutions for their clinical development.
The company delivers unique products and services that accelerate
and de-risk drug development and clinical regulatory process more
rapidly and cost effectively, including through real-time
actionable intelligence of evolving topline trends and metrics to
patient specific data derived from aggregating all clinical,
diagnostic, operational and project accounting data. Prevail
InfoWorks is an affiliate of Prevail Partners LLC.
About TNF Pharmaceuticals, Inc.
TNF Pharmaceuticals, Inc. (Nasdaq: TNFA) (formerly known as MyMD
Pharmaceuticals, Inc.), a clinical stage pharmaceutical company, is
focused on developing two novel therapeutic platforms that treat
the causes of disease rather than only addressing the symptoms.
MYMD-1® is a drug platform based on a clinical stage small molecule
that regulates the immune system to control TNF-α, which drives
chronic inflammation, and other pro-inflammatory cell signaling
cytokines. MYMD-1 is being developed to treat diseases and
disorders marked by acute or chronic inflammation. The Company’s
second drug platform, Supera-CBD, is being developed to treat
chronic pain, addiction and epilepsy. Supera-CBD is a novel
synthetic derivative of cannabidiol (CBD) and is being developed to
address and improve upon the rapidly growing CBD market, which
includes both FDA approved drugs and CBD products not currently
regulated as drugs. For more information, visit
www.tnfpharma.com.
Cautionary Statement Regarding Forward-Looking
Statements
This press release may contain forward-looking statements. These
forward-looking statements involve known and unknown risks,
uncertainties and other factors which may cause actual results,
performance or achievements to be materially different from any
expected future results, performance, or achievements.
Forward-looking statements speak only as of the date they are made
and neither the Company nor its affiliates assume any duty to
update forward-looking statements. Words such as “anticipate,”
“believe,” “could,” “estimate,” “expect,” “may,” “plan,” “will,”
“would’’ and other similar expressions are intended to identify
these forward-looking statements. Important factors that could
cause actual results to differ materially from those indicated by
such forward-looking statements include, without limitation: the
Company’s ability to maintain compliance with the Nasdaq Stock
Market’s listing standards; the timing of, and the Company’s
ability to, obtain and maintain regulatory approvals for clinical
trials of the Company’s pharmaceutical candidates; the timing and
results of the Company’s planned clinical trials for its
pharmaceutical candidates; the amount of funds the Company requires
for its pharmaceutical candidates; increased levels of competition;
changes in political, economic or regulatory conditions generally
and in the markets in which the Company operates; the Company’s
ability to retain and attract senior management and other key
employees; the Company’s ability to quickly and effectively respond
to new technological developments; and the Company’s ability to
protect its trade secrets or other proprietary rights, operate
without infringing upon the proprietary rights of others and
prevent others from infringing on the Company’s proprietary rights.
A discussion of these and other factors with respect to the Company
is set forth in the Company’s Annual Report on Form 10-K for the
year ended December 31, 2023, filed by the Company on April 1,
2024, and subsequent reports that the Company files with the
Securities and Exchange Commission. Forward-looking statements
speak only as of the date they are made, and the Company disclaims
any intention or obligation to revise any forward-looking
statements, whether as a result of new information, future events
or otherwise.
1 Metabolism journal, Epidemiology of sarcopenia: Prevalence,
risk factors, and consequences (2023)
2 Metabolism journal, Sarcopenia in youth (2023)
3 Mordor Intelligence, Sarcopenia Treatment Market Size &
Share Analysis - Growth Trends & Forecasts (2024 - 2029)
4 Journal of Frailty & Aging, Economic Impact of
Hospitalizations in US Adults with Sarcopenia (2019)
View source
version on businesswire.com: https://www.businesswire.com/news/home/20241002229933/en/
Investor Contact: Robert Schatz (646) 421-9523
rschatz@tnfpharma.com www.tnfpharma.com
TNF Pharmaceuticals (NASDAQ:TNFA)
과거 데이터 주식 차트
부터 11월(11) 2024 으로 12월(12) 2024
TNF Pharmaceuticals (NASDAQ:TNFA)
과거 데이터 주식 차트
부터 12월(12) 2023 으로 12월(12) 2024