Biora Therapeutics Secures Funding from Current Investors

SAN DIEGO, Aug. 12, 2024 – Biora Therapeutics (Nasdaq: BIOR), a biotech firm focused on innovative therapeutic delivery, has announced the completion of financing agreements involving its existing convertible notes holders. The agreements will provide Biora with a $16 million multiple-draw facility, intended to bridge the company to a forthcoming partnership with a major pharmaceutical entity.

Eric d’Esparbes, the Chief Financial Officer of Biora Therapeutics, expressed gratitude towards the commitment shown by the noteholders. He stated that this additional investment is expected to sustain the company through several crucial milestones, including potential collaborations with large pharmaceutical firms. The commitment from the noteholders is driven by the active interest in Biora's BioJet™ platform and the promising clinical trial results emerging from the NaviCap™ platform.

Biora Therapeutics: An Overview

Biora Therapeutics is a clinical-stage biotechnology company developing two smart pill-based therapeutic platforms: the NaviCap™ and the BioJet™. These platforms are designed to enhance patient outcomes through targeted and efficient drug delivery mechanisms.

The NaviCap™ platform focuses on colon-targeted treatment for inflammatory bowel disease (IBD). It aims to improve therapeutic outcomes by delivering medication directly to the site of disease within the gastrointestinal tract. The platform reduces systemic uptake, thereby enhancing safety and effectiveness. BT-600, a combination of the NaviCap™ device and a liquid formulation of tofacitinib, is intended for the treatment of moderate to severe ulcerative colitis (UC). Phase 1 clinical trials of BT-600 have shown successful drug delivery throughout the colon in healthy participants, with the desired lower systemic exposure.

The BioJet™ platform, on the other hand, is designed for the oral delivery of large molecules, aiming to replace traditional injections with a needle-free, oral solution. The BioJet™ device is ingestible, comparable in size to a multivitamin, and can traverse the digestive tract to deliver therapeutics into the small intestine. This platform is capable of autonomously delivering a variety of large molecules, including proteins, peptides, and nucleic acids, in liquid form at multi-milligram doses without requiring complex reformulation.

By pioneering these platforms, Biora Therapeutics seeks to revolutionize the way chronic diseases are managed, making treatments more patient-friendly and effective.

Further Information

Biora Therapeutics continues to innovate in the field of therapeutic delivery, striving to develop advanced solutions that can transform patient care. The company actively seeks to collaborate with large pharmaceutical partners to further its mission and bring its cutting-edge technologies to market.

In summary, Biora Therapeutics is breaking new ground in the biotech industry with its smart pill-based platforms designed to improve drug delivery and patient outcomes. With a significant $16 million financing agreement now in place, the company is well-positioned to reach key milestones and foster partnerships with major pharmaceutical companies, driving forward its innovative solutions for chronic disease management.

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