NeuroBo Pharmaceuticals Acquires ANA Therapeutics

Transformative Acquisition Deepens Pipeline with In-Process Phase 2/3 Clinical Study of Proprietary Oral Formulation of Niclosamide for the Treatment of COVID-19

Development Timeline Supports Multiple Value Drivers Over Next 12-18 Months

NeuroBo Pharmaceuticals, Inc. (Nasdaq: NRBO), a clinical-stage biotechnology company, today announced that on December 31, 2020 it acquired ANA Therapeutics, a privately held biotechnology company developing ANA-001, a proprietary capsule formulation of niclosamide for coronavirus indications, currently in Phase 2/3 clinical trials as a treatment for COVID-19. The transaction was unanimously approved by both the NeuroBo Pharmaceuticals' and ANA Therapeutics' Boards of Directors.

"This is an exciting and transformative acquisition for NeuroBo that expands our pipeline with a late-stage clinical development program that addresses the urgent need for new treatments to address COVID-19, a highly-infectious and often deadly virus," stated Richard J. Kang, Ph.D., President and Chief Executive Officer of NeuroBo. "ANA-001 is advancing through the 505(b)(2) clinical pathway, which allows us to leverage earlier data on niclosamide and streamlines and accelerates the timelines to bring this potentially life-saving therapy to patients suffering with COVID-19. As a result, the development timeline supports a number of value-creating milestones over the coming 12 to 18 months, including the data readout of the Phase 2 portion of the trial, expected in the third quarter of 2021."

https://finance.yahoo.com/news/neurobo-pharmaceuticals-acquires-ana-therapeutics-133000070.html