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Catalyst Biosciences skyrockets on Hemophilia candidate news

Tuesday, March 28, 2017 10:09
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(Before It's News)

Catalyst Biosciences Inc (NASDAQ: CBIO) saw shares add almost 173% in New York to $14 after the biopharma revealed the Korean Ministry of Food and Drug Safety (MFDS) had approved its investigational new drug Application (IND) for a candidate for Hemophilia.

The condition is a serious bleeding disorder that, which results in substantially prolonged bleeding times upon injury.

The firm said CB 2679d/ISU304 was a  “highly potent” next-generation coagulation variant, which has shown the potential to normalize human Factor IX levels with a daily subcutaneous injection in preclinical studies.

“We believe that stopping bleeding is good, but preventing bleeding is better. CB 2679d/ISU304 has the properties required, including high potency, to allow for daily subcutaneous injection with the potential to achieve stable and normal Factor IX clotting levels,” said Nassim Usman, president and chief executive of Catalyst.

The firm’s collaborator, ISU Abxis plans to begin a phase 1/2 proof-of-concept study in individuals with severe hemophilia B in the second quarter of 2017.

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