Lakewood-Amedex begins trading on NASDAQ under ticker LABT

Lakewood-Amedex Biotherapeutics Inc. (NASDAQ: LABT) announced that its common stock began trading on the Nasdaq Capital Market under the ticker symbol "LABT" through a direct listing.

The Sarasota, Florida-based clinical-stage biotechnology company develops antimicrobials called the Bisphosphocin class for treating infectious diseases. The company's lead product, Nu-3, is being developed for topical treatment of infected diabetic foot ulcers.

"This listing is a notable achievement marking a new chapter for our company enabling the accelerated development of our Bisphosphocin class of compounds," said Doug Manion, M.D., Chairman of the Board.

The company plans to initiate a Phase 2a clinical trial for Nu-3 in infected diabetic foot ulcers. Chief Executive Officer Kelvin Cooper, Ph.D., noted that approximately 40 million people in the United States live with diabetes, with about one-third developing diabetic foot ulcers during their lifetime. About 50% of these ulcers become infected.

Nu-3 belongs to the Bisphosphocin class of antimicrobials, which the company states possess a mechanism of action designed to eliminate bacteria including resistant pathogens and biofilms. Initial exploratory clinical trials using subclinical doses showed no safety signals and indicated positive antimicrobial response trends and improved wound healing, according to the press release.

The company plans to conduct an initial Phase 2a safety and dose response study of Nu-3 followed by a placebo-controlled Phase 2b dose comparative study to determine the appropriate administration regimen for the treatment.

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