Lung Diseases, Obstructive

SAN DIEGO and TAICANG, China, March 19, 2024 (GLOBE NEWSWIRE) -- Connect Biopharma Holdings Limited (Nasdaq: CNTB) (“Connect Biopharma” or the “Company”), a global clinical-stage biopharmaceutical company dedicated to improving the lives of patients with chronic inflammatory diseases through the development of therapies derived from T cell-driven research, today announced that Zheng Wei, Ph.D., Co-Founder and CEO, and Raúl Collazo, Ph.D., Global Head of Medical Affairs will participate in H.C. Wainwright 2nd Annual Autoimmune & Inflammatory Disease Virtual Conference in a fireside chat on Thursday, March 28, 2024 at 4:00 p.m. ET. Please see below for additional details about the event and how to request a one-on-one meeting with management. H.C. Wainwright Autoimmune & Inflammatory Disease Virtual Conference Location: Virtual Format: Fireside chat Date: Thursday, March 28, 2024, 4:00 p.m. EDT Registration and 1x1 Meeting Requests: Click Here About Connect Biopharma Holdings Limited Connect Biopharma is a global, clinical-stage biopharmaceutical company applying its expertise in T cell biology and deep knowledge of the drug discovery industry to develop innovative therapies to treat chronic inflammatory diseases with the goal of improving the lives of millions of those affected around the world. The Company is building a rich pipeline of proprietary small molecules and antibodies, using functional T cell assays, to screen and discover potent product candidates against validated immune targets. The Company’s lead product candidate, rademikibart (formerly known as CBP-201), is an antibody designed to target interleukin-4 receptor alpha (IL-4Rα) in development for the treatment of atopic dermatitis (AD) and asthma. The Company’s second product candidate, icanbelimod (formerly known as CBP-307), is a modulator of S1P1 T cell receptors and is in development for the treatment of ulcerative colitis (UC). For more information, please visit: Forward-Looking Statements Connect Biopharma cautions that statements included in this release that are not a description of historical facts are forward-looking statements. Words such as “may,” “could,” “will,” “would,” “should,” “expect,” “plan,” “anticipate,” “believe,” “estimate,” “intend,” “predict,” “seek,” “contemplate,” “look forward,” “potential,” “continue” or “project” or the negative of these terms or other comparable terminology are intended to identify forward-looking statements. These statements include the Company’s plans to advance the development of its product candidates, the timing of achieving any development, regulatory or commercial milestones or reporting data or whether such milestones or data will be achieved or generated, including whether any new drug application will be submitted or accepted and the timing thereof, and the potential of such product candidates, including to achieve any benefit, improvement, differentiation, trend or pro any product approval or be effective. The inclusion of forward-looking statements should not be regarded as a representation by Connect Biopharma that any of its plans will be achieved. Actual data may differ materially from those set forth in this release due to the risks and uncertainties inherent in the Company’s business and other risks described in the Company’s filings with the Securities and Exchange Commission (SEC), including the Company’s Annual Report on Form 20-F filed with the SEC on April 11, 2023, and its other reports. Investors are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof, and Connect Biopharma undertakes no obligation to revise or update this release to reflect events or circumstances after the date hereof. Further information regarding these and other risks is included in Connect Biopharma’s filings with the SEC which are available from the SEC’s website ( ) and on Connect Biopharma’s website ( ) under the heading “Investors.” All forward-looking statements are qualified in their entirety by this cautionary statement. This caution is made under the safe harbor provisions of Section 21E of the Private Securities Litigation Reform Act of 1995. INVESTOR CONTACT: Tim McCarthy LifeSci Advisors tim@lifesciadvisors.com

Earlier this month, Boehringer Ingelheim capped out-of-pocket costs for its own inhaler portfolio in the U.S.—again at just $35 per month. At a critical moment for the U.S. inhaler market, AstraZeneca is following its peer Boehringer Ingelheim and taking a step to boost patient access. AstraZeneca on Monday revealed it’s expanding a savings program across its entire U.S. respiratory portfolio. The plan is to cap monthly out-of-pocket inhaler costs for eligible patients at $35. The move will kick in on June 1 and includes inhaled medicines for both asthma and chronic obstructive pulmonary disease, the company said. “We remain dedicated to addressing the need for affordability of our medicines, but the system is complex and we cannot do it alone,” AstraZeneca CEO Pascal Soriot said in a statement. “It is critical that Congress bring together key stakeholders to help reform the healthcare system so patients can afford the medicines they need, not just today, but for the future.” Soriot’s call to action resembles that of Boehringer Ingelheim U.S. pharma president Jean-Michel Boers, who made similar remarks when his company earlier this month capped out-of-pocket costs for its own inhaler portfolio—again at just $35 per month. "AstraZeneca and others across the US healthcare system have raised concerns over tactics that pharmacy benefit managers (PBMs) and other industry intermediaries use, which ultimately raise costs of healthcare for people," an AZ spokesperson explained over email, elaborating on Soriot's comments. PBMs "often request high percentages" of list prices, but the so-called "rebates" don't "translate to savings for patients at the pharmacy counter," AZ's spokesperson added. The pharma industry has long pushed more regulation of pharmacy benefit managers. At a Senate hearing last month, three Big Pharma CEOs laid pricing blame on pharmaceutical middlemen, which negotiate drug pricing and access. Industry trade group PhRMA has been pressing for more scrutiny of PBMs for years. At the same time, AZ and Boehringer Ingelheim's recent pricing moves weren’t entirely unprompted. Back in January, Sen. Bernie Sanders, I-Vermont, chairman of the Senate Health, Education, Labor and Pensions (HELP) Committee, sent letters to CEOs of U.S. respiratory juggernauts AZ, Boehringer, GSK and Teva seeking to investigate the “outrageous” prices of their inhaler products. Meanwhile, GSK recently decided to shelve its brand-name asthma inhaler Flovent HFA in favor of an authorized generic—a move Sen. Elizabeth Warren, D-Massachusetts, has branded as a “shameful money grab.” In recent weeks, media headlines have repeatedly flagged access issues for asthma patients raised by the Flovent switch. For its part, GSK told Fierce Pharma that it elected to launch authorized generics for Flovent HFA and its sister product Flovent Diskus to help maintain patient access to the drug, potentially at a lower cost, after plans had been made to discontinue the branded products. GSK said it sells the authorized generic product to its partner Prasco, which “alone” determines the market price for that version of the drug. Editor's note: This story has been updated with additional commentary from AstraZeneca. 

AstraZeneca said Monday it’s capping out-of-pocket costs for US patients who use its asthma and chronic obstructive pulmonary disease (COPD) inhalers at $35 a month. The cost savings programme follows a similar move from Boehringer Ingelheim, who earlier this month set the same out-of-pocket limit on its inhalers.  Both large pharmas may have been prompted to enact the payment cap after the US Senate launched an investigation into the high cost of inhaled respiratory medicines compared with other countries, such as the UK, Germany, and France. In January, the Senate Health, Education, Labor and Pensions committee sent letters to AstraZeneca and Boehringer Ingelheim, as well as GSK and Teva, requesting documentation on “internal decisions that ensure their inhalers do not face competition and can continue to bring in massive revenues.”According to the committee, inhalers from the four drugmakers can cost patients between $200 and $600 per month.The payment caps from Boehringer and AstraZeneca go into effect in June and will affect the UK pharma’s Airsupra (albuterol and budesonide), Bevespi aerosphere (glycopyrrolate and formoterol fumarate), Breztri aerosphere (budesonide, glycopyrrolate, and formoterol fumarate) and Symbicort (budesonide and formoterol fumarate dihydrate). AstraZeneca also announced that it has lowered the list price of Symbicort “substantially.”“We remain dedicated to addressing the need for affordability of our medicines, but the system is complex and we cannot do it alone,” CEO Pascal Soriot said in a statement. “It is critical that Congress bring together key stakeholders to help reform the healthcare system so patients can afford the medicines they need, not just today, but for the future.”Boehringer’s affected inhalers include Atrovent HFA (ipratropium bromide), Combivent Respimat (ipratropium bromide/albuterol) and Spiriva HandiHaler (tiotropium bromide), Spiriva Respimat (tiotropium bromide), Stiolto Respimat (tiotropium bromide/olodaterol) and Striverdi Respimat (olodaterol).