HILLHURST BIOPHARMA COMPLETES SEED FINANCING TO ADVANCE CLINICAL DEVELOPMENT

SAN DIEGO, Dec. 20, 2023 /PRNewswire/ -- Hillhurst Biopharmaceuticals, Inc. ("Hillhurst"), a clinical stage biopharmaceutical company focused on developing liquid drug products containing therapeutic gases, announced today the completion of a financing that, together with non-dilutive sources, funds Phase 2a clinical studies in sickle cell disease and in a second clinical indication.  The financing was led by Friedman Bioventure Fund with participation from new and existing investors.

"The Hillhurst team has uncovered novel means of delivery that enable new uses of known therapeutic gases, overcoming challenges associated with inhaled delivery," said Andrew Gomperts, chief executive officer of Hillhurst Bio. "These funds will allow us to bring our lead drug product into patients in therapeutic areas with substantial unmet medical needs, with readouts expected in 2024."

The planned Phase 2a clinical trial in subjects with sickle cell disease is an ascending multiple dose study with 14 days of daily dosing to assess the safety, tolerability, pharmacokinetics, and proof of concept efficacy of HBI-002. 

There is substantial literature, both clinical and preclinical, supporting a potential therapeutic role for low dose CO treatment of SCD.  This treatment has a unique dual mechanism of action,  including reduction of inflammation and cell death, as well as blocking the polymerization of sickle hemoglobin. 

About Sickle Cell Disease
Sickle cell disease is a rare genetic disorder that causes severe vaso-occlusive pain crises and is associated with serious clinical consequences including stroke, heart disease, kidney disease as well as premature death.  The average life expectancy of SCD patients in the US is only 45 years, reflecting the substantial unmet medical need.

About HBI-002
Hillhurst Bio's lead product, HBI-002, is an oral drug product candidate of low dose CO, with an administration route designed to enable chronic use in a home setting for patients suffering from sickle cell disease. Other potential disease targets are conditions associated with inflammation and cell death such as Parkinson's disease. 

About Hillhurst Biopharmaceuticals
Hillhurst Bio is a clinical stage company focused on its proprietary GLASS^™ platform, which enables novel drug products based on therapeutic gases that, up until now, have been limited by inhaled delivery, including a unique pipeline of novel liquid therapeutic candidates intended to treat patients with sickle cell disease, Parkinson's disease, and acute pain.

To learn more about Hillhurst Bio, please visit www.hillhurstbio.com.

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SOURCE Hillhurst Biopharmaceuticals, Inc.