Annovis Bio Provides Third Quarter 2020 and Year-to-Date Business Highlights – GlobeNewswire

October 15, 2020 06:45 ET | Source: Annovis Bio Inc.

BERWYN, Pa., Oct. 15, 2020 (GLOBE NEWSWIRE) -- Annovis Bio Inc. (NYSE American: ANVS), a clinical-stage drug platform company addressing Alzheimers disease (AD), Parkinsons disease (PD) and other neurodegenerative diseases, today announced its business highlights for the third quarter ended September 30, 2020.

We are thrilled with the strong progress we have made since our IPO in January of this year and the continued productivity despite the COVID-19 pandemic, said Maria Maccecchini, Ph.D., Founder and Chief Executive Officer. A major milestone in the third quarter was the start of our new phase 2a study in Alzheimers and Parkinsons patients, which we expect to report preliminary data from in the first quarter of 2021. Based on what we know today, we believe that our breakthrough platform technology could result in medicines that can change the world.

There has been a string of clinical trial failures for drugs based on the belief that sticky brain plaques cause AD. With 500 failed drugs based on that hypothesis, Annovis Bio has developed a new approach to treat AD as well as PD by attacking multiple neurotoxic proteins simultaneously. In six animal models, ANVS401 reduced neurotoxic proteins, improved axonal transport, lowered inflammation, and restored healthy nerve cells in both AD and PD. Based on publicly available data, no other drug has been shown in animal studies to impede the whole toxic cascade and show preclinical efficacy in both AD and PD.

Third Quarter and Year-to-Date 2020 Business Highlights

About Annovis BioHeadquartered in Berwyn, Pennsylvania, Annovis Bio, Inc. (Annovis) is a clinical-stage, drug platform company addressing neurodegeneration, such as Alzheimers disease (AD), Parkinsons disease (PD) and Alzheimers in Down Syndrome (AD-DS). We believe that we are the only company developing a drug for AD, PD and AD-DS that inhibits more than one neurotoxic protein and, thereby, improves the information highway of the nerve cell, known as axonal transport. When this information flow is impaired, the nerve cell gets sick and dies. We expect our treatment to improve memory loss and dementia associated with AD and AD-DS, as well as body and brain function in PD. We have an ongoing Phase 2a study in AD patients and have commenced a second Phase 2a study in AD and PD patients. For more information on Annovis, please visit the companys website:www.annovisbio.com.

Forward-Looking StatementsStatements in this press release contain forward-looking statements that are subject to substantial risks and uncertainties. Forward-looking statements contained in this press release may be identified by the use of words such as anticipate, expect, believe, will, may, should, estimate, project, outlook, forecast or other similar words, and include, without limitation, statements regarding the timing, effectiveness and anticipated results of ANVS401 clinical trials. Forward-looking statements are based on Annovis Bio, Inc.s current expectations and are subject to inherent uncertainties, risks and assumptions that are difficult to predict. Further, certain forward-looking statements are based on assumptions as to future events that may not prove to be accurate, including that clinical trials may be delayed. These and other risks and uncertainties are described more fully in the section titled Risk Factors in the Annual Report on Form 10-K for the year ended December 31, 2019 filed with the Securities and Exchange Commission. Forward-looking statements contained in this announcement are made as of this date, and Annovis Bio, Inc. undertakes no duty to update such information except as required under applicable law.

Investor Relations: Dave Gentry, CEO RedChip Companies Inc. 407-491-4498 Dave@redchip.com

SOURCE: Annovis Bio, Inc.

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Annovis Bio Provides Third Quarter 2020 and Year-to-Date Business Highlights - GlobeNewswire