Aevi Genomic Medicine, Inc. is dedicated
to unlocking the potential of genomic medicine to translate genetic
discoveries into novel therapies. Driven by a commitment to patients
with pediatric onset life-altering diseases, the company's research and
development efforts leverages an internal genomics platform and an
ongoing collaboration with the Center for Applied Genomics (CAG) at The
Children's Hospital of Philadelphia (CHOP).
Aevi Genomic Medicine Reports Third Quarter 2017
PHILADELPHIA, Nov. 2, 2017 /PRNewswire/ -- Aevi Genomic Medicine, Inc.
(NASDAQ: GNMX) (the Company) announced today financial and operational
results for the quarter ended September 30, 2017 and provided a
Third Quarter and Recent Corporate Highlights
Initiated screening and recruitment for a Phase 2 clinical trial in
contactin-4 mutation-positive Attention Deficit Hyperactivity Disorder
("CNTN4+ ADHD") (Part A) to confirm genetic responders to AEVI-001.
Data from the trial is expected by mid-2018.
Initiated work on CNTN4 in Autism Spectrum Disorder (ASD) to better
define the patient phenotype and design a proof-of-concept study to
begin in H1 2018.
Continued recruitment for a Phase 1b proof-of-concept study of AEVI-002
in Severe Pediatric Onset Crohn's Disease. Initial data from the trial
is anticipated by mid-2018.
Completed the previously announced private placement of 22.2 million
shares of common stock with warrants to purchase approximately 4.0
million additional shares of common stock, for aggregate proceeds of
$28.0 million, before expenses (the "PIPE"). The Children's Hospital of
Philadelphia Foundation (the "CHOP Foundation") was the lead investor,
with additional participation by other blue-chip investors. The CHOP
Foundation has committed to provide up to an additional $5.0 million of
equity financing through June 30, 2018, subject to certain terms and
Current cash resources, including proceeds from the PIPE transaction,
are estimated to fund operations into early 2019, including through the
receipt of top-line data from AEVI-001 in CNTN4+ ADHD Part A and
initial data from the proof-of-concept trial of AEVI-002 in Severe
Pediatric Onset Crohn's Disease.