Seneca Biopharma Announces Update on Phase II Clinical Trial Underway in China for the Treatment of Ischemic Stroke
GERMANTOWN, Md., April 7, 2020 /PRNewswire/ -- Seneca Biopharma, Inc. (Nasdaq: SNCA), a biopharmaceutical company focused on developing novel treatments for diseases of high unmet medical need, today provided a status update on the company's non-GCP Phase II trial evaluating the use of its proprietary neural stem cells, NSI-566, for the treatment of chronic ischemic stroke. The trial is being conducted at the BaYi Brain Hospital in Beijing, China. As of March 31, 2020, follow-up assessments had been completed on 60% of the subjects in the trial and the company continues to expect data readout to be available during the second half of 2020, as previously disclosed.
"This trial is an important step in the development of this therapy for the global market, especially China, where ischemic stroke is a leading cause of death and disability," said Dr. Ken Carter, Executive Chairman of Seneca. "We remain on-track with our prior guidance, thanks to the physicians and clinical trial staff who have worked diligently to conduct this study, while maintaining their own safety and that of our patients during difficult circumstances brought about by the COVID-19 pandemic."
About Seneca Biopharma, Inc.
Seneca Biopharma, Inc., is a clinical-stage biopharmaceutical company developing novel treatments for diseases of high unmet medical need. The Company is in the process of transforming the organization through the acquisition or in-licensing of new science and technologies, to develop with the goal of providing meaningful therapies for patients.
About Ischemic Stroke
Ischemic stroke, the most common type of stroke, occurs as a result of an obstruction within a blood vessel supplying blood to the brain. Approximately 15 million people worldwide suffer stroke each year, of which approximately 87% are ischemic strokes. Post-stroke motor deficits include paralysis in arms and legs and can be permanent. No interventional therapy exists for chronic stroke and treatment is focused on rehabilitation, but only a small fraction of survivors achieve complete functional recovery.
Cautionary Statement Regarding Forward Looking Information:
This news release contains "forward-looking statements" made pursuant to the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements relate to future, not past, events and may often be identified by words such as "expect," "anticipate," "intend," "plan," "believe," "seek" or "will." Forward-looking statements by their nature address matters that are, to different degrees, uncertain. Specific risks and uncertainties that could cause our actual results to differ materially from those expressed in our forward-looking statements include risks inherent in the development and commercialization of potential products, uncertainty of clinical trial results or regulatory approvals or clearances, need for future capital, dependence upon collaborators and maintenance of our intellectual property rights. Actual results may differ materially from the results anticipated in these forward-looking statements. Additional information on potential factors that could affect our results and other risks and uncertainties are detailed from time to time in Seneca's periodic reports, including its Annual Report on Form 10-K for the year ended December 31, 2019, filed with the Securities and Exchange Commission (SEC), and in other reports filed with the SEC. We do not assume any obligation to update any forward-looking statements.
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SOURCE Seneca Biopharma, Inc.
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