AN2 Therapeutics Receives Continuation Grant to Discover Novel Boron Based Therapies for Tuberculosis (caused by Mycobacterium tuberculosis) and Malaria

Business Wire 17-Oct-2024 7:00 AM

Grant from the Bill & Melinda Gates Foundation

AN2 Therapeutics, Inc. (NASDAQ:ANTX), a biopharmaceutical company focused on discovering and developing novel small molecule therapeutics derived from its boron chemistry platform, today announced that the company has received a second year continuation of a research grant from the Bill & Melinda Gates Foundation to discover novel, boron containing small molecules for the treatment of tuberculosis (TB) and malaria.

"We are appreciative of the Gates Foundation's continued support as we advance our joint effort to discover new drugs for tuberculosis and malaria, with the goal of combating drug resistance and shortening treatment duration for these infectious diseases, which together cause nearly 2 million deaths per year worldwide," said Eric Easom, Co-Founder, President, Chief Executive Officer and Chairman of AN2 Therapeutics. "Our boron chemistry platform and team have a proven history of developing innovative compounds with novel mechanisms of action that address critical unmet needs in infectious diseases and other therapeutic areas. This grant highlights the potential of our boron chemistry platform and supports our commitment to address these critical gaps in global health therapeutics through non-dilutive funding."

This grant continuation from the foundation will support the discovery of novel inhibitors of aminoacyl-tRNA synthetases using AN2's proprietary boron chemistry platform to identify new therapies for TB and malaria. Leucyl- tRNA synthetase is a validated human target in Mycobacteria and other bacteria and fungi and has the potential to address significant unmet needs in the antimicrobial space, including TB and nontuberculous Mycobacteria lung disease. This program builds on the scientific accomplishments and expertise of several AN2 scientists who were involved in discovering novel leucyl-tRNA synthetase inhibitors that leverage the power of boron chemistry including epetraborole, (being developed for non-tuberculosis Mycobacteria lung disease or NTM and melioidosis) tavaborole (FDA approved antifungal), and ganfeborole, which is currently in development for tuberculosis by GSK.

About AN2 Therapeutics, Inc.

AN2 Therapeutics, Inc. is a biopharmaceutical company focused on discovering and developing novel small molecule therapeutics derived from its boron chemistry platform. AN2 has a pipeline of boron-based compounds in development for Chagas disease, nontuberculous mycobacteria (NTM), and melioidosis, along with early-stage programs focused on targets in infectious diseases and oncology. For more information, please visit our website at www.an2therapeutics.com.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements expressed or implied in this press release include, but are not limited to, statements regarding: the potential development of compounds, including novel inhibitors of aminoacyl-tRNA synthetases, for TB and other conditions, development of compounds through boron chemistry research, development of other compounds using our boron chemistry platform, developing compounds leveraging our experience in boron chemistry, and other statements that are not historical fact. These statements are based on AN2's current estimates, expectations, plans, objectives, and intentions, are not guarantees of future performance, and inherently involve significant risks and uncertainties. Actual results and the timing of events could differ materially from those anticipated in such forward-looking statements as a result of these risks and uncertainties, which include, but are not limited to, risks and uncertainties related to: future funding by the Gates Foundation and other sources of non-dilutive capital; timely enrollment of patients in AN2's existing and future clinical trials; AN2's ability to procure sufficient supply of its product candidates for its existing and future clinical trials; the potential for results from clinical trials to differ from preclinical, early clinical, preliminary or expected results; significant adverse events, toxicities or other undesirable side effects associated with AN2's product candidates; the significant uncertainty associated with AN2's product candidates ever receiving any regulatory approvals; AN2's ability to obtain, maintain, or protect intellectual property rights related to its current and future product candidates; the sufficiency of AN2's capital resources and need for additional capital to achieve its goals; global macroeconomic conditions and global conflicts; and other risks, including those described under the heading "Risk Factors" in AN2's reports filed with the U.S. Securities and Exchange Commission (SEC), including AN2's Quarterly Report on Form 10-Q for the quarters ended March 31 and June 30, 2024. These filings, when made, are available on the investor relations section of AN2's website at investor.an2therapeutics.com and on the SEC's website at www.sec.gov. Forward-looking statements contained in this press release are made as of this date, and AN2 undertakes no duty to update such information except as required under applicable law.

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