Stealth Bio gets FDA adcomm for previously rejected ultra-rare disease drug
BOSTON, Nov. 1, 2022 /PRNewswire/ -- Stealth BioTherapeutics Corp (Nasdaq : MITO), a clinical-stage biotechnology company focused on the discovery, development, and commercialization of novel therapies for diseases involving mitochondrial dysfunction, today announced encouraging Phase 1 data on the safety and tolerability of SBT-272, a next-generation small molecule designed to reach therapeutic concentrations in the brain and to restore mitochondrial structure and function. The Company also announced that positive preclinical data demonstrating that treatment with SBT-272 provided neuroprotection of upper motor neurons harboring ALS pathology will be presented today at the Northeast Amyotrophic Lateral Sclerosis (NEALS) conference in Clearwater, FL. The Company recently received Orphan Drug Designation from the US Food and Drug Administration (FDA) Office of Orphan Products Development for SBT-272 for the treatment of patients with ALS.
A new spinout emerged from stealth Thursday morning, backed by big name VCs and Big Pharma veterans at the helm to try to break into a new aspect of precision oncology medicine.
The parties have entered into a definitive merger deal where Stealth will be acquired by a group of investors led by Morningside in an all-cash transaction. Morningside already owned 65% of Stealth before pitching the deal back in June. Stealth has now agreed to the proposal and so has its board.
Stealth BioTherapeutics Corp (Nasdaq:MITO), a clinical-stage biotechnology company focused on the discovery, development, and commercialization of...