(Updated) Aridis Pharmaceuticals Receives Equity Investment from the Cystic Fibrosis Foundation

Los Gatos, Calif., Dec. 12, 2022 (GLOBE NEWSWIRE) -- Aridis Pharmaceuticals, Inc. (NASDAQ: ARDS), a biopharmaceutical company today announced the Cystic Fibrosis Foundation invested $4.85 million in Aridis common stock on market terms under NASDAQ rules to support the ongoing development of AR-501, an inhalable broad-spectrum anti-infective currently under development for controlling debilitating chronic lung infections in cystic fibrosis (CF) patients. Including this funding, the CF Foundation has provided a total of $12.5 million in support. Enrollment for a Phase 2a study of AR-501 in CF patients was completed in November 2022. The Company anticipates reporting top-line results from its Phase 2a study in the first quarter of 2023.

“We want to thank the CF Foundation for their continued support for the clinical development of AR-501, an inhaled form of gallium, which we believe could be a more effective delivery route than intravenous (IV) administered gallium. IV gallium has already demonstrated that it is well tolerated and improved lung function in a CF Foundation, National Institutes of Health, and FDA funded Phase 2 clinical study,” said Vu Truong, Ph.D., Chief Executive Officer of Aridis Pharmaceuticals.

AR-501 has been granted Orphan Drug Designation (ODD) and Fast Tracked and Qualified Infectious Disease Product (QIDP) designations by the US Food and Drug Administration (FDA). In addition, the European Medicines Agency (EMA) granted ODD to AR-501. 

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