BEDMINSTER, N.J., Jan. 30, 2023 (GLOBE NEWSWIRE) — Matinas BioPharma (NYSE AMER: MTNB, Matinas), a clinical-stage biopharmaceutical company focused on redefining the intracellular delivery of nucleic acids and small molecules with its lipid nanocrystal (LNC) platform technology, today is providing a business update on its ongoing programs and discussing its strategic outlook for 2023.
“In 2022 we successfully demonstrated that MAT2203, our lead asset based on our lipid nanocrystal (LNC) delivery platform, could safely and effectively deliver unprecedented survival outcomes, with an oral therapy, for patients suffering from deadly fungal infections,” commented Jerome D. Jabbour, Chief Executive Officer of Matinas. “Our success with smaller molecules increased our confidence in the platform and empowered us to focus on what we believe is the real future of medicine – the ability to safely and effectively deliver therapies that affect the genetic mechanisms underlying disease. We are striving to create an internal and external pipeline of product candidates in the nucleic acid and gene therapy space that take advantage of the unique and proprietary nature of our delivery technologies. Our ongoing collaborations with BioNTech and, recently, National Resilience, have aligned Matinas with two of the world’s leading companies in the gene therapy space. These collaborations were designed to accelerate the overall development of our LNC platform and maximize the value we can obtain from third parties while providing us with critical data and information necessary to establish and develop an internal pipeline of nucleic acid therapies.”
Jabbour added, “During these uncertain economic times, we remain cognizant of our cash resources and have chosen to prioritize those activities which we believe will create the greatest shareholder value. Through these strategic choices, we have extended our cash runway into the second quarter of 2024, well beyond potential value-creating catalysts and near-term opportunities for non-dilutive funding from LNC partners and/or BARDA. We could not be more excited about what we are building at Matinas, and we believe that 2023 will be a great year for the Company and its shareholders.”
About Matinas BioPharma
Matinas BioPharma is a biopharmaceutical company focused on improving the intracellular delivery of nucleic acids and small molecules with its lipid nanocrystal (LNC) platform technology. The Company is developing its own internal portfolio of products as well as partnering with leading pharmaceutical companies to develop novel formulations that capitalize on the unique characteristics of the LNC platform.
Preclinical and clinical data have demonstrated that this novel technology can provide solutions to many of the challenges in achieving safe and effective intracellular delivery, for both small molecules and larger, more complex molecules, such as mRNA, DNA plasmids, antisense oligonucleotides, and vaccines. The combination of a unique mechanism of action and flexibility with formulation and route of administration (including oral), positions Matinas’ LNC technology to potentially become the preferred next-generation intracellular drug delivery vehicle with distinct advantages over both lipid nanoparticles and viral vectors.
For more information, please visit www.matinasbiopharma.com.