Lirum Therapeutics, Inc.

New York, NY, April 04, 2024 (GLOBE NEWSWIRE) -- Lirum Therapeutics, Inc. (Lirum), an innovative clinical-stage biopharmaceutical company focused on the treatment of debilitating diseases, announced today the upcoming presentation of positive data on LX-101, a novel clinical-stage targeted therapy directed to the insulin-like growth factor 1 receptor (IGF-1R), at the 2024 American Association for Cancer Research (AACR) Annual Meeting being held from April 5-10 in San Diego, California. Lirum’s data covers clinically-tested LX-101’s potent preclinical anti-tumor activity against variety of adult and pediatric cancers, including cancers of the head and neck and breast as well as certain sarcomas and neuroblastoma, all of which have well-established IGF-1R pathway involvement. In particular, these malignancies have known genetic alterations affecting the IGF-1R pathway and/or high IGF-1R expression tied to poor outcomes. The poster (abstract 1918) will be presented on Monday April 8th from 9:00am to 12:30pm PT in Section 23 of the poster hall and will also be available on the Lirum website (www.lirumtx.com) at the time of its presentation under the Investors and Media tab. Given these promising results and the existing clinical data, Lirum is planning new clinical trials with LX-101 focused on oncologic indications, both pediatric and adult, that carry well-established ties to the IGF-1/IGF-1R pathway. Lirum is also developing LX-101 in certain autoimmune diseases, including thyroid dye disease, where IGF-1R has been clinically and commercially validated. About Lirum Therapeutics, Inc.Lirum is an innovative clinical-stage biopharmaceutical company focused on the treatment of debilitating diseases through the acquisition, development and commercialization of novel drug candidates with compelling mechanisms of action, regulatory pathways and commercial opportunities. Lirum’s lead candidate, LX-101, is a novel clinical-stage targeted therapy directed to the insulin-like growth factor-1 receptor (IGF-1R) with a differentiated mechanism of action. Lirum is developing LX-101 in oncology and autoimmune indications, including thyroid eye disease (TED). For more information on Lirum, please visit www.lirumtx.com. Forward Looking StatementsThis press release contains certain “forward-looking statements” within the meaning of the Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, each as amended. Forward-looking statements can be identified by words such as: aim,” “anticipate,” “assume,” “believe,” “contemplate,” “continue,” “could,” “design,” “due,” “estimate,” “expect,” “goal,” “intend,” “may,” “objective,” “plan,” “positioned,” “potential,” “predict,” “seek,” “should,” “target,” “will,” “would” and other similar expressions. We have based these forward-looking statements largely on our current expectations and projections about future events that we believe may affect our financial condition, results of operations, business strategy and financial needs. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside of our control. Actual results and outcomes may differ materially from those indicated in the forward-looking statements. Important factors that could cause actual results and outcomes to differ materially from those indicated in the forward-looking statements include, among others: our ability to successfully develop our product candidates, including obtaining positive results from planned clinical trials; expectations for the clinical development, manufacturing, regulatory approval and commercialization of our product candidates or other products we may acquire or in-license; expectations for incurring capital expenditures and generating revenue; estimates of the sufficiency of our existing cash and cash equivalents and investments to finance operations; changes in applicable laws or regulations; the possibility that we may be adversely affected by other economic, business, and/or competitive factors; the impact of health epidemics, including the COVID-19 pandemic, on our business and the actions we may take in response thereto; and other risks and uncertainties indicated from time to time. Although we believe that the plans and expectations reflected in any forward-looking statements are based on reasonable assumptions, we can give no assurance that our plans and expectations will be attained, and therefore actual outcomes and results may differ materially from what is expressed or forecasted in such forward-looking statements. These forward-looking statements are subject to numerous risks and uncertainties, including those identified elsewhere in this communication and those included in the “Risk Factors” section in our most recently filed Registration Statement on Form S-1 and in other documents that we may file with the SEC, which are available at https://www.sec.gov. These cautionary statements qualify all of our forward-looking statements, and you are cautioned not to place undue reliance on these forward-looking statements. Our forward-looking statements speak only as of the date they are made and should not be relied upon as representing our plans and expectations as of any subsequent date. While we may elect to update or revise forward-looking statements at some time in the future, we specifically disclaim any obligation to publicly release the results of any revisions to our forward-looking statements, except as required by law. Company contact: Matt HobermanInvestor RelationsIR@lirumtx.com Phone: (646) 389-6015 Lirum Therapeutics, Inc.590 Madison Avenue 21st FloorNew York, NY 10022

Contineum Therapeutics has thrown its hat into the ring for a spring public debut. The neurology and inflammation-focused company filed for an IPO last week to fund clinical trials of its two lead programmes, including a multiple sclerosis (MS) and depression candidate that’s partnered with Johnson & Johnson. Formerly Pipeline Therapeutics, Contineum joins Boundless Bio in the IPO queue, which was the first biotech in March to signal its public interest following the rapid-fire offerings of late January and early February. The mid-stage oncology company has yet to set terms for its offering.Also in line for public offerings are several biotechs seeking sub-$30 million debuts: Aprinoia Therapeutics, Lirum Therapeutics, and Jyong Biotech.  MS, depression in the pipelineContineum’s clinical pipeline comprises two oral small molecules: LPA1R antagonist PIPE-791, and M1 muscarinic receptor antagonist PIPE-307.The former is a brain penetrant compound that’s completed Phase I studies for idiopathic pulmonary fibrosis (IPF) and progressive multiple sclerosis (MS). With the IPO proceeds, Contineum expects to start this year a Phase Ib PET imaging trial to measure the relationship of pharmacokinetics to lung and brain receptor occupancy, which will help inform dosing for Phase II trials for each indication.Johnson & Johnson has an exclusive, worldwide licence to the latter candidate, which is in development for relapsing/remitting MS and depression.Last year Contineum received $50 million upfront for rights to PIPE-307 and is eligible for up to $1 billion in milestones, plus low-double digit to high-teen tiered royalties. The company also received a $25 million equity investment from the US pharma’s venture capital arm, JJDC. Muscarinic receptor modulators have gained steam as of late for their potential in mood disorders, particularly schizophrenia. For more, see KOL Views Q&A: Leading psychiatrist sees a muscarinic revolution coming in schizophrenia and beyond.“To our knowledge, PIPE-307 is the most clinically advanced selective M1R antagonist in development,” the company said in the filing.  Contineum is in charge of a Phase II trial of PIPE-307 in relapsing/remitting MS; IPO proceeds are expected to help the biotech wrap up the study. Johnson & Johnson plans to start a Phase II trial this year of the candidate to treat depression.

New York, NY, March 14, 2024 (GLOBE NEWSWIRE) -- Lirum Therapeutics, Inc. (“Lirum”), an innovative clinical-stage biopharmaceutical company focused on the treatment of debilitating diseases, announced today the acceptance for presentation of positive data on LX-101, a novel clinical-stage targeted therapy directed to the insulin-like growth factor 1 receptor (“IGF-1R”), at the 2024 European Society for Medical Oncology (“ESMO”) Sarcoma and Rare Cancers Congress being held from March 14-16 in Lugano, Switzerland. Lirum’s data covers clinically-tested LX-101’s potent preclinical anti-tumor activity against cancers with well-established IGF-1R pathway involvement, including malignancies with known genetic alterations affecting the IGF-1R pathway and/or with high IGF-1R expression. The poster is available on the Lirum website (www.lirumtx.com) under the Investors and Media tab. Given these promising results and the existing clinical data, Lirum is planning new clinical trials with LX-101 focused on oncologic indications, both pediatric and adult, that carry well-established ties to the IGF-1/IGF-1R pathway. Lirum is also developing LX-101 in certain autoimmune diseases, including thyroid dye disease, where IGF-1R has been clinically and commercially validated. About Lirum Therapeutics, Inc.Lirum is an innovative clinical-stage biopharmaceutical company focused on the treatment of debilitating diseases through the acquisition, development and commercialization of novel drug candidates with compelling mechanisms of action, regulatory pathways and commercial opportunities. Lirum’s lead candidate, LX-101, is a novel clinical-stage targeted therapy directed to the insulin-like growth factor-1 receptor (“IGF-1R”) with a differentiated mechanism of action. Lirum is developing LX-101 in oncology and autoimmune indications, including thyroid eye disease (“TED”). For more information on Lirum, please visit www.lirumtx.com. Forward Looking StatementsThis press release contains certain “forward-looking statements” within the meaning of the Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, each as amended. Forward-looking statements can be identified by words such as: aim,” “anticipate,” “assume,” “believe,” “contemplate,” “continue,” “could,” “design,” “due,” “estimate,” “expect,” “goal,” “intend,” “may,” “objective,” “plan,” “positioned,” “potential,” “predict,” “seek,” “should,” “target,” “will,” “would” and other similar expressions. We have based these forward-looking statements largely on our current expectations and projections about future events that we believe may affect our financial condition, results of operations, business strategy and financial needs. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside of our control. Actual results and outcomes may differ materially from those indicated in the forward-looking statements. Important factors that could cause actual results and outcomes to differ materially from those indicated in the forward-looking statements include, among others: our ability to successfully develop our product candidates, including obtaining positive results from planned clinical trials; expectations for the clinical development, manufacturing, regulatory approval and commercialization of our product candidates or other products we may acquire or in-license; expectations for incurring capital expenditures and generating revenue; estimates of the sufficiency of our existing cash and cash equivalents and investments to finance operations; changes in applicable laws or regulations; the possibility that we may be adversely affected by other economic, business, and/or competitive factors; the impact of health epidemics, including the COVID-19 pandemic, on our business and the actions we may take in response thereto; and other risks and uncertainties indicated from time to time. Although we believe that the plans and expectations reflected in any forward-looking statements are based on reasonable assumptions, we can give no assurance that our plans and expectations will be attained, and therefore actual outcomes and results may differ materially from what is expressed or forecasted in such forward-looking statements. These forward-looking statements are subject to numerous risks and uncertainties, including those identified elsewhere in this communication and those included in the “Risk Factors” section in our most recently filed Registration Statement on Form S-1 and in other documents that we may file with the SEC, which are available at https://www.sec.gov. These cautionary statements qualify all of our forward-looking statements, and you are cautioned not to place undue reliance on these forward-looking statements. Our forward-looking statements speak only as of the date they are made and should not be relied upon as representing our plans and expectations as of any subsequent date. While we may elect to update or revise forward-looking statements at some time in the future, we specifically disclaim any obligation to publicly release the results of any revisions to our forward-looking statements, except as required by law. Company contact: Matt HobermanInvestor RelationsIR@lirumtx.com Phone: (646) 389-6015Lirum Therapeutics, Inc.590 Madison Avenue 21st FloorNew York, NY 10022