Nes Ziona, Israel, April 13, 2020 – Enlivex Therapeutics Ltd. (Nasdaq: ENLV), a clinical-stage immunotherapy company, today announced that the Israel Innovation Authority (IIA) selected the Company’s planned COVID-19 and sepsis clinical programs to receive, in the aggregate, a non-dilutive grant of approximately $1.5 million for the period through the first quarter of 2021. To date, Enlivex has received a total of approximately $4.31 million in grants from the IIA for its historical clinical trials and development.
The IIA is an independent, publicly funded agency charged with fostering the development of industrial R&D within the State of Israel. It provides non-dilutive grants that become repayable only through royalties from future sales of products developed with the support of the IIA, and the repayment, if any, is limited to the original grant amount plus interest.
Following the positive results of Enlivex’s Phase Ib clinical trial in severe sepsis patients, Enlivex currently plans to initiate this year a Phase IIb/III trial of AllocetraTM for the treatment of organ dysfunction associated with sepsis, and, subject to regulatory approvals, initiate a clinical trial of AllocetraTM in COVID-19 patients.
Enlivex is a clinical stage immunotherapy company, developing an allogeneic drug pipeline for immune system rebalancing. Immune system rebalancing is critical for the treatment of life-threatening immune and inflammatory conditions which involve hyper-expression of cytokines (Cytokine Release Syndrome) and for which there are no approved treatments (unmet medical needs), as well as solid tumors immune-checkpoint rebalancing. For more information, visit http://www.enlivex.com.