ZyVersa Therapeutics Reports Second Quarter 2024 Financial Results, Provides Business Update

KEY HIGHLIGHTS

• The Phase 2a clinical trial for Cholesterol Efflux Mediator VAR 200 in patients with diabetic kidney disease is planned to start in the second half of 2024.
• Obesity with related metabolic complications selected as lead indication for Inflammasome ASC Inhibitor IC 100.
  • Supporting data from a preclinical study in atherosclerosis, a common metabolic complication associated with obesity, are expected to be available in the second half of 2024.
• IC 100 Investigational New Drug (IND) filing is planned for Q4-2024, followed by the initiation of a Phase 1 clinical trial in obesity with metabolic complications, expected to start in Q1-2025.
• Approximately $0.8 million raised through the exercise of investor warrants.

WESTON, Fla., Aug. 09, 2024 (GLOBE NEWSWIRE) — ZyVersa Therapeutics, Inc. (Nasdaq: ZVSA, or “ZyVersa”), a clinical-stage specialty biopharmaceutical company developing first-in-class medicines to treat kidney and inflammatory diseases with high unmet medical need, reports financial results for the quarter ended June 30, 2024 and provides a business update.

“We are pleased to report that ZyVersa remains on track to achieve key development milestones over the next three quarters,” said Stephen C. Glover, Co-Founder, Chairman, CEO and President of ZyVersa. “Our Phase 2a clinical trial with Cholesterol Efflux Mediator VAR 200 in diabetic kidney disease is expected to enroll the first patient(s) within the next few months, with a first data readout around the end of the year. In preparation for the planned IND filing in Q4-2024 and subsequent Phase 1 trial for Inflammasome ASC Inhibitor, a lead indication, obesity with related metabolic complications, has been selected. This selection was based on unmet needs and the mechanism of action of IC 100, substantiated by its robust preclinical program. By inhibiting ASC, IC 100 targets all four inflammasome pathways associated with obesity and related metabolic complications. Importantly, IC 100 disrupts the structure and function of extracellular ASC specks, which maintain and propagate harmful inflammation, leading to obesity-related metabolic complications. We believe our milestone achievement will be a significant turning point for ZyVersa that will increase shareholder value.”