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Spring Bank Announces Research Agreement with The National Institute of Allergy and Infectious Diseases to Evaluate HBV Antisense Oligonucleotide Compounds

HOPKINTON, Mass., July 18, 2019 (GLOBE NEWSWIRE) -- Spring Bank Pharmaceuticals, Inc. (Nasdaq: SBPH), a clinical-stage biopharmaceutical company developing novel therapeutics for the treatment of viral infections, inflammatory diseases and certain cancers, today announced that it has entered into a research agreement with The National Institute of Allergy and Infectious Diseases (NIAID), part of the National Institutes of Health, to evaluate Spring Bank’s hepatitis B virus (HBV) antisense oligonucleotide compounds.

Spring Bank has entered into a non‐clinical evaluation agreement to access NIAID’s preclinical services program to further evaluate Spring Bank’s HBV antisense oligonucleotide compounds. Under the agreement, NIAID‐funded contractors will evaluate Spring Bank’s lead compounds in the HBV transgenic mouse model, a well-established preclinical model to assess compound efficacy. NIAID has previously supported the evaluation of several of Spring Bank’s HBV antisense oligonucleotide compounds in antiviral in vitro assays. Spring Bank retains exclusive rights to these compounds. 

There remains a significant unmet need for easily administered antiviral and immunomodulatory therapies with favorable safety profiles that can be used in combination as a functional cure for chronic HBV. Spring Bank is designing its HBV antisense oligonucleotide compounds to inhibit all HBV proteins, including the HBx protein. The company has recently nominated novel, lead antisense compounds for advancement into non-clinical studies in HBV. The company will seek to accelerate this new internal program with a goal to potentially position a lead compound for use in a clinical trial in late 2020 involving a triple combination for HBV consisting of the lead antisense compound co-administered with inarigivir, the company’s lead Phase 2 product candidate, and a nucleo(s)tide analog, for potentially achieving functional cure.

“We are grateful to NIAID for their support of our HBV oligonucleotide antisense program,” said Kris Iyer, Ph.D., Chief Scientific Officer and Co-Founder of Spring Bank. “The research supported by this prestigious institution will enhance our knowledge of the non-clinical efficacy profile for our HBV antisense oligonucleotide R&D program.”

For more information about Spring Bank’s HBV platform, visit springbankpharm.com/hbv-platform.

About Spring Bank Pharmaceuticals
Spring Bank Pharmaceuticals, Inc. is a clinical-stage biopharmaceutical company engaged in the discovery and development of a novel class of therapeutics using its proprietary small molecule nucleotide platform. The company designs its compounds to selectively target and modulate the activity of specific proteins implicated in various disease states. The company’s lead product candidate, inarigivir, is being developed for the treatment of chronic hepatitis B virus (HBV). Inarigivir is designed to activate within hepatic cells retinoic acid-inducible gene 1 (RIG-I), which has been shown to inhibit HBV viral replication and induce the intracellular interferon signaling pathways for antiviral defense. The company is also developing its lead STING agonist product candidate, SB 11285, an immunotherapeutic agent for the treatment of selected cancers. For more information, please visit www.springbankpharm.com.

Forward-Looking Statements
This press release contains forward-looking statements within the meaning of The Private Securities Litigation Reform Act of 1995, as amended, about Spring Bank’s future expectations, plans and prospects. These statements include, but are not limited to, statements about the company’s plans and expectations for its HBV antisense oligonucleotide research and development program. The words “anticipate,” “believe,” “estimate,” “expect,” “intend,” “may,” “plan,” “predict,” “will,” “would,” “could,” “potential,” “possible,” “hope,” “likelihood” and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. Any forward-looking statements in this press release are based on management's current expectations and beliefs and are subject to a number of risks, uncertainties and important factors that may cause actual events or results to differ materially from those expressed or implied by any forward-looking statements contained in this press release, including, without limitation, risks and uncertainties related to: Spring Bank’s ability to successfully demonstrate the safety and efficacy of its product candidates; any delay of any current or planned non-clinical or clinical trials or the development of any product candidate; whether Spring Bank’s product candidates will advance through the clinical trial process on a timely basis, or at all; whether Spring Bank’s cash resources will be sufficient to fund its continuing operations for the periods and/or trials anticipated; whether the results of such trials will warrant submission for approval from the United States Food and Drug Administration or equivalent foreign regulatory agencies; whether Spring Bank’s product candidates will receive approval from regulatory agencies on a timely basis or at all; whether, if product candidates obtain approval, they will be successfully distributed and marketed; and other factors discussed in the “Risk Factors” section of Spring Bank’s Annual Report on Form 10-K for the year ended December 31, 2018, which was filed with the Securities and Exchange Commission (SEC) on March 11, 2019 and in other filings Spring Bank makes with the SEC from time to time.

In addition, the forward-looking statements included in this press release represent Spring Bank’s views as of the date hereof. Spring Bank anticipates that subsequent events and developments will cause Spring Bank’s views to change. However, while Spring Bank may elect to update these forward-looking statements at some point in the future, Spring Bank specifically disclaims any obligation to do so. These forward-looking statements should not be relied upon as representing Spring Bank’s views as of any date after the date hereof.

Spring Bank Pharmaceuticals, Inc.
Jonathan Freve
Chief Financial Officer
(508) 473-5993

LifeSci Advisors, LLC
Ashley R. Robinson
(617) 535-7742

McNeil, Gray & Rice
Kristin Nugent
Senior Account Supervisor
(617) 367-0100

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Source: Spring Bank Pharmaceuticals, Inc.