• Award-winning Agility Life Sciences brings a proven track record in drug formulation for a number of pharmaceutical and biotechnology clients.
  

NAPLES, Fla. and CAMBRIDGE, United Kingdom, Jan. 22, 2025 (GLOBE NEWSWIRE) -- Conduit Pharmaceuticals Inc. (Nasdaq: CDT) (“Conduit” or the “Company”), today announced that it has entered into a strategic services agreement with formulation development CDMO Agility Life Sciences (“Agility”) to develop new solid oral-dosage form products of its autoimmune pipeline for use in future clinical trials.

Conduit has developed a series of novel, advantageous solid forms of all its autoimmune pipeline assets, each protected by newly established composition-of-matter intellectual property (IP). Leveraging Agility’s extensive formulation expertise, Conduit believes this collaboration will focus on utilizing these proprietary forms to develop enhanced oral dosage forms for each asset. These dosage forms, designed with patient preferences and disease-specific needs in mind, are intended to allow Conduit to maximize the market potential of each asset while being underpinned by robust composition of matter IP.

As part of its focus on acquiring Phase 2-ready assets, Conduit’s pipeline includes several candidates that already have clinically tested oral formulations. This enables the Company to efficiently advance into Phase 2 trials using existing data packages. In parallel with ongoing autoimmune clinical trial plans, Conduit will work with Agility to develop enhanced proprietary oral dosage formulations for each asset. This dual-track approach is intended to strengthen market protection, enhance market value, and optimize the positioning of each asset for future licensing opportunities.

About Agility Life Sciences

Agility is an award-winning formulation development CDMO that turns molecules into smart formulations which maximizes the probability of success in pre-clinical studies to enable them to be accelerated in clinical, by evaluating the successful end-result before embarking on projects. Agility develop and manufacture formulations for various routes of administration including oral, ocular, IV, intranasal and topical to meet the needs of their clients.

About Conduit Pharmaceuticals

Conduit is a multi-asset, clinical stage, disease-agnostic life science company delivering an efficient model for compound development. Conduit both acquires and funds the development of Phase 2-ready assets and then seeks an exit through third-party license deals following successful clinical trials. Led by a highly experienced team of pharmaceutical executives including Dr. David Tapolczay and Dr. Freda Lewis-Hall, this novel approach is a departure from the traditional pharma/biotech business model of taking assets through regulatory approval.

Forward-Looking Statements

This press release contains certain forward-looking statements within the meaning of the federal securities laws. All statements other than statements of historical facts contained in this press release, including statements regarding Conduit's future results of operations and financial position, Conduit's business strategy, prospective product candidates, product approvals, research and development costs, timing and likelihood of success, plans and objectives of management for future operations, future results of current and anticipated studies and business endeavors with third parties, and future results of current and anticipated product candidates, are forward-looking statements. These forward-looking statements generally are identified by the words "believe," "project," "expect," "anticipate," "estimate," "intend," "strategy," "future," "opportunity," "plan," "may," "should," "will," "would," "will be," "will continue," "will likely result," and similar expressions. These forward-looking statements are subject to a number of risks, uncertainties and assumptions, including, but not limited to; the inability to maintain the listing of Conduit's securities on Nasdaq; the ability to recognize the anticipated benefits of the business combination completed in September 2023, which may be affected by, among other things, competition; the ability of the combined company to grow and manage growth economically and hire and retain key employees; the risks that Conduit's product candidates in development fail clinical trials or are not approved by the U.S. Food and Drug Administration or other applicable authorities on a timely basis or at all; changes in applicable laws or regulations; the possibility that Conduit may be adversely affected by other economic, business, and/or competitive factors; and other risks as identified in filings made by Conduit with the U.S. Securities and Exchange Commission. Moreover, Conduit operates in a very competitive and rapidly changing environment. Because forward-looking statements are inherently subject to risks and uncertainties, some of which cannot be predicted or quantified and some of which are beyond Conduit's control, you should not rely on these forward-looking statements as predictions of future events. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and except as required by law, Conduit assumes no obligation and does not intend to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise. Conduit gives no assurance that it will achieve its expectations.

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