GRI Bio Announces 2023 Annual Financial Results and Provides Corporate Update

Gri Bio Announces 2023 Annual Financial Results and Provides Corporate Update

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GRI Bio, Inc., a biotechnology company based in La Jolla, CA, stands out for its significant advances in the treatment of inflammatory, fibrotic and autoimmune diseases through its Natural Killer T (NKT) cell modulators. With the recent completion of a $5,5 million public offering and the promising advancement of its lead programs GRI-0621 for idiopathic pulmonary fibrosis (IPF) and GRI-0803 for systemic lupus erythematosus (SLE), GRI Bio positions itself as a potential leader in its field. Interim results from the Phase 2a biomarker study for GRI-0621 are expected in the first half of 2024, with topline data planned for the second half of 2024, marking a critical milestone for the company and its stakeholders.

A breakthrough in the treatment of IPF

La Idiopathic Pulmonary Fibrosis (IPF) is a rare, progressive disease that causes abnormal scarring of the lungs, severely limiting respiratory function. Current treatment options are limited and often accompanied by significant side effects. GRI Bio's GRI-0621 program represents a major innovation, targeting iNKT cell activity to ameliorate fibrosis in multiple disease models and improve liver function tests and other markers of inflammation and injury in patients.

Advances towards the treatment of SLE

Le Systemic Lupus Erythematosus (SLE) is another autoimmune disease where the immune system attacks its own tissues and organs. GRI-0803, a novel type 2 NKT cell activator developed by GRI Bio, has shown in preclinical studies its ability to inhibit iNKT cells in mice and humans, offering hope for an effective treatment for patients suffering from nephritis lupus and significantly improve overall survival.

Important next steps

Next steps for GRI Bio include finalizing studies enabling the Investigational New Drug (IND) application for GRI-0803, with submission planned for the first half of 2024. These advances position GRI Bio at the forefront of research and the development of innovative treatments for diseases that were previously difficult to treat.

Financial results and outlook

Despite a net loss of $13,0 million for the year ended December 31, 2023, the recent public offering and significant progress in its development programs strengthen GRI Bio's financial position, extending its financial autonomy until third quarter of 2024. This financial strength supports the company's continued commitment to innovation and the development of targeted therapies.

En conclusion, GRI Bio, Inc. is emerging as a key player in the field of inflammatory, fibrotic and autoimmune diseases thanks to its innovative approaches and significant advances. The next few months will be pivotal for the company, as we await crucial study results that could be a game-changer for IPF and SLE patients.

Credits

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Gri Bio Announces 2023 Annual Financial Results and Provides Corporate Update

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