I am thrilled that we recently completed a private financing where we raised more than $11 million since the start of the year. This financing allows us to proceed with preparing our lead product candidate, AB101, to enter the clinic. The entire AntriaBio team is very appreciative of the continued support of our stakeholders.
AB101 is a unique formulation of a once-a-week basal insulin injection that has the potential to significantly advance the current standard of care for basal insulin replacement therapy which today is characterized by a once-a-day injection of basal insulin analogues, or synthetic forms of insulin. In contrast, AB101 is formulated using human recombinant insulin which is pegylated and married with a biodegradable polymer (PLGA) in a solvent to produce homogenous microspheres. After injection, these microspheres uniformly dissolve through hydrolysis to deliver a week’s dose of basal insulin: a remarkable formulation achievement which we like to call “smart science.”
With minimal excipients, AB101 is a particularly elegant formulation and it has the potential to dominate the $10 billion basal insulin market. More importantly, AB101 may meaningfully improve the therapeutic regimen for individuals with diabetes.
Earlier in my career, I ran Nektar Therapeutic’s Pulmonary Division where my lead commercial product was Exubera, the first inhaled mealtime replacement therapy. Although Exubera did not survive as a commercial product as a result of marketing and other challenges, I learned a valuable lesson from that experience. It was a significant therapeutic advancement which offered individuals the option of inhaling insulin rather than injecting it. Through the hundreds of letters I received from individuals who used Exubera, I know that inhaled insulin made a huge difference in their lives and I am now delighted to see that MannKind appears to be headed down the path for regulatory approval of what would be the next commercially available inhaled mealtime insulin, Afrezza.
I believe that AB101, if approved, will have an even greater positive impact by lessening the therapeutic burden for individuals with diabetes. For patients with Type 1 and Type 2 diabetes who require basal insulin for the control of hyperglycemia, AB101 represents a potential treatment that can improve patient compliance as well as offering the convenience of being administered once-a-week as opposed to once-a-day.
We are excited to continue our work and I look forward to sharing more thoughts with you as we progress. I’d like to thank our supporters once again…onward and upward.
Chairman and CEO
890 Santa Cruz Avenue
Menlo Park, CA 94025
Phone: (650) 241-9330
Jenene Thomas Communications, LLC
Jenene Thomas, Investor Relations and Corporate Communications Advisor
Phone: (908) 938-1475
Forward Looking Statements
This release, like many written and oral communications presented by AntriaBio, Inc., and our authorized officers, may contain certain forward-looking statements regarding our prospective performance and strategies within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. We intend such forward-looking statements to be covered by the safe harbor provisions for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995, and are including this statement for purposes of said safe harbor provisions. Forward-looking statements, which are based on certain assumptions and describe future plans, strategies, and expectations of the Company, are generally identified by use of words "anticipate," "believe," "estimate," "expect," "intend," "plan," "project," "seek," "strive," "try," or future or conditional verbs such as "could," "may," "should," "will," "would," or similar expressions. Our ability to predict results or the actual effects of our plans or strategies is inherently uncertain. Accordingly, actual results may differ materially from anticipated results. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this release. Except as required by applicable law or regulation, AntriaBio undertakes no obligation to update these forward-looking statements to reflect events or circumstances that occur after the date on which such statements were made.