Akers Biosciences (AKER) Merger Partner MyMD Pharmaceuticals Announces Plans to Initiate COVID-19 Inflammatory Depression Trial

April 13, 2021 9:03 AM EDT
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Akers Biosciences, Inc. (NASDAQ: AKER), today announced that its proposed merger partner MyMD Pharmaceuticals, Inc. (“MyMD”), a clinical stage pharmaceutical company committed to extending health lifespan and treating immune mediated illnesses, has reached an agreement with a major medical school to conduct a Phase 2 clinical trial to investigate the effectiveness of MYMD-1 to treat immune mediated depression in patients affected with COVID-19. MYMD believes that this investigator-initiated study is the first of its kind and addresses a significant unmet medical need.

In a finding published in JAMA Network Open on 3/12/21, it was found that 52% of individuals who had COVID-19 had an associated moderate to severe Major Depressive Disorder. Currently there are no studies--to date or currently--to investigate therapeutic approaches to treat COVID-19 associated depression that MYMD is aware of, making this MYMD-1 study a potential landmark undertaking to address a critical global unmet need.

The study is designed to analyze the pro-inflammatory cytokines associated with the “cytokine storm,” with the Phase 2 trial planned to begin in Q2, under a contract research agreement. The COVID-19 depression trial is expected to be followed by studies at a major medical school on the therapeutic potential of MYMD-1 in patients with multiple sclerosis, including its effects on depression and disease progression. MYMD-1 is believed to be the first drug being developed to treat age related diseases and aging itself.

“COVID-19 associated depression is just the beginning,” said Chris Chapman, M.D., President and Chief Medical Officer of MyMD Pharmaceuticals. “After confirming, in successful preclinical studies over the past few years, that MYMD-1 can slow aging and treat age-related illnesses where the immune system has gone awry, we are excited to be moving into the clinical development phases of this promising novel therapeutic. Because inflammation is often the culprit for a myriad of diseases, additional studies that are planned will include the application of MYMD-1 to treat autoimmune diseases such as Multiple Sclerosis, delay age-related effects such as muscle loss and frailty, and prevent the adverse effects of space travel among Astronauts.”

About MyMD Pharmaceuticals, Inc.

MyMD is a clinical stage pharmaceutical company committed to extending healthy lifespan by focusing on developing two therapeutic platforms. MYMD-1 is a drug platform based on a clinical stage small molecule that regulates the immunometabolic system to control TNF-α and other pro-inflammatory cytokines. MYMD-1 is being developed to treat autoimmune diseases, including those currently treated with non-selective TNF-α blocking drugs, and aging and longevity. SUPERA-CBD is a drug platform based on a novel (patent pending) synthetic derivative of cannabidiol (CBD) that targets numerous key receptors including CB2 and opioid receptors and inhibits monoamine oxidase. SUPERA-CBD is being developed to address the rapidly growing CBD market, that includes FDA approved drugs and CBD products not currently regulated as a drug. For more information, visit www.mymd.com.

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