1. - Initiated Phase 2 study of PRA023 and its companion diagnostic in Ulcerative Colitis (UC) and Phase 2a study of PRA023 and its companion diagnostic in Crohn's disease (CD) -

    - Phase 1a trial results of PRA023 in normal healthy volunteers expected in fourth quarter 2021 -

    - Strong cash position of $304 million as of June 30, 2021 -

    SAN DIEGO, Aug. 11, 2021 (GLOBE NEWSWIRE) -- Prometheus Biosciences, Inc. (NASDAQ:RXDX), a clinical-stage biotechnology company pioneering a precision medicine approach for the discovery, development, and commercialization of novel therapeutic and companion diagnostic products for the treatment of immune-mediated diseases, starting first with inflammatory bowel disease (IBD), today reported financial results…

    - Initiated Phase 2 study of PRA023 and its companion diagnostic in Ulcerative Colitis (UC) and Phase 2a study of PRA023 and its companion diagnostic in Crohn's disease (CD) -

    - Phase 1a trial results of PRA023 in normal healthy volunteers expected in fourth quarter 2021 -

    - Strong cash position of $304 million as of June 30, 2021 -

    SAN DIEGO, Aug. 11, 2021 (GLOBE NEWSWIRE) -- Prometheus Biosciences, Inc. (NASDAQ:RXDX), a clinical-stage biotechnology company pioneering a precision medicine approach for the discovery, development, and commercialization of novel therapeutic and companion diagnostic products for the treatment of immune-mediated diseases, starting first with inflammatory bowel disease (IBD), today reported financial results for the quarter ended June 30, 2021, and highlighted recent corporate progress.

    "Our team has made tremendous progress in the last several months with a continued focus on achieving our corporate milestones, most importantly, the initiation of the Phase 2 and Phase 2a studies for our lead program, PRA023, in Ulcerative Colitis and Crohn's disease, as well as the achievement of a significant partnering milestone which further validates our platform," said Mark McKenna, President and CEO of Prometheus. "As we look ahead, the team is highly focused on rapidly enrolling and executing our clinical trials, while also expanding our precision-medicine approach to other immune-mediated diseases beyond IBD."

    Second Quarter 2021 and Recent Corporate Highlights

    Initiated global Phase 2 ARTEMIS-UC clinical trial of PRA023 in Ulcerative Colitis (UC). Prometheus' Phase 2 ARTEMIS-UC clinical trial is currently enrolling patients with moderate-to-severely active UC who have failed conventional therapy, including biologics. The trial is a 12-week, double-blind, placebo-controlled, randomized study to evaluate the efficacy and safety of PRA023 in patients with UC. The initial cohort is statistically powered to evaluate the efficacy of PRA023 in patients with UC. The expansion cohort is statistically powered to further evaluate the effectiveness of a companion diagnostic in patients with UC. Topline results for the Phase 2 ARTEMIS-UC trial are expected in 4Q 2022.

    Initiated global Phase 2a APOLLO-CD clinical trial of PRA023 in Crohn's disease (CD). Prometheus' Phase 2a APOLLO-CD clinical trial is a 12-week open label study that is currently enrolling patients with moderate-to-severely active CD with endoscopically active disease who have failed conventional therapy, including biologics. The study will assess the efficacy of PRA023 and the effectiveness of the companion diagnostic in patients with CD. Topline results for the Phase 2a APOLLO-CD trial are expected in 4Q 2022.

    Provided clinical updates of lead program, PRA023, at R&D Day. Prometheus recently held its first R&D Day and provided updates from the Phase 1a clinical trial of PRA023 in normal healthy volunteers and debuted the design of the Phase 2 and Phase 2a trial designs in patients with UC and CD.

    • PRA023 was well-tolerated during the dosing phase of the Phase 1a study in normal healthy volunteers with no clinically meaningful safety signal identified, supporting the initiation of the ongoing Phase 2 and Phase 2a trials
    • 6-month toxicity study was completed with no dose-limiting toxicity, enabling evaluation of long-term dosing

    Received $10M milestone payment from Dr. Falk Pharma for PR600. Prometheus achieved a significant milestone in its collaboration with Dr. Falk Pharma GmbH with the selection of a clinical candidate in the PR600 program, which targets an undisclosed member of the tumor-necrosis factor superfamily for the treatment of IBD. The company expects to file an Investigational New Drug application (IND) for PR600 in 3Q 2022.

    Strengthened board of directors with appointment of Fred Hassan. Prometheus appointed Mr. Hassan, the former CEO of Schering-Plough and former Chairman of Bausch & Lomb, in May 2021.

    Upcoming Milestones and Events

    • Phase 1a trial results of PRA023 in normal healthy volunteers expected in 4Q 2021
    • New indication announcement for PRA023 in 4Q 2021
    • Investigational Device Exemption (IDE) submission of the companion diagnostic for PRA023 in 3Q 2022
    • IND to be filed for PR600 in 3Q 2022
    • Topline results from the ARTEMIS-UC Phase 2 study expected in 4Q 2022
    • Topline results from APOLLO-CD Phase 2a study expected in 4Q 2022

    Second Quarter 2021 Financial Results

    Cash and Cash Equivalents. As of June 30, 2021, Prometheus Biosciences had cash and cash equivalents of $304.4 million, compared to $54.2 million at the end of 2020. We received net proceeds of $73.7 million from the sale of shares of our Series D-2 convertible preferred stock and net proceeds of $199.8 million from the sale of our common stock in our IPO, both in the first quarter.

    Collaboration Revenue. Revenue was $0.3 million for the second quarter ended June 30, 2021, compared to $0.2 million for the second quarter ended June 30, 2020, and $1.1 million for the first half of 2021 compared to $0.4 million for the first half of 2020, primarily due to additional revenue generated from Prometheus' collaboration with Dr. Falk Pharma.

    Research and Development Expenses. Research and development expenses were $13.6 million for the second quarter ended June 30, 2021, compared to $4.9 million for the second quarter ended June 30, 2020, and $21.3 million for the first half of 2021 compared to $9.2 million for the first half of 2020. The increases were primarily driven by advancement of PRA023 into the clinical stage of development, as well as advancing our other development programs.

    General and Administrative Expenses. General and administrative expenses were $5.6 million for the second quarter ended June 30, 2021, compared to $1.8 million for the second quarter ended June 30, 2020, and $10.8 million for the first half of 2021 compared to $4.2 million for the first half of 2020. The increases were primarily due to an increase in expenses related to operating as a public company and an increase in personnel.

    About PRA023

    PRA023 is an IgG1 humanized monoclonal antibody (mAb) that has been shown to block tumor necrosis factor (TNF)-like ligand 1A (TL1A). PRA023 binds both soluble and membrane-associated human TL1A with high affinity and specificity and has the potential to substantially improve outcomes for moderate-to-severe IBD patients predisposed to increased TL1A expression. Prometheus is developing PRA023 for the treatment of the two most common forms of IBD, Ulcerative Colitis (UC) and Crohn's disease (CD). The Company has initiated enrollment in a Phase 2 trial in UC patients and a Phase 2a trial in CD patients, each utilizing a genetic-based companion diagnostic designed to identify patients who are predisposed to increased expression of TL1A and therefore potentially more likely to respond to PRA023.

    About Prometheus Biosciences

    Prometheus Biosciences, Inc. is a clinical-stage biotechnology company pioneering a precision medicine approach for the discovery, development, and commercialization of novel therapeutic and companion diagnostic products for the treatment of immune-mediated diseases, starting first with inflammatory bowel disease (IBD). The Company's precision medicine platform, Prometheus360™, combines proprietary bioinformatics discovery methods with one of the world's largest gastrointestinal bioinformatics databases to identify novel therapeutic targets and develop therapeutic candidates to engage those targets. Prometheus is headquartered in San Diego, CA.

    Forward Looking Statements

    Prometheus cautions readers that statements contained in this press release regarding matters that are not historical facts are forward-looking statements. These statements are based on our current beliefs and expectations. Such forward-looking statements include, but are not limited to, statements regarding: the potential to rapidly enroll and execute our clinical trials and expand our approach to other immune-mediated diseases beyond IBD; and Prometheus' expected timing of topline results for its Phase 2 and 2a trials, Phase 1a study results and new indication announcement for PRA023, IDE submission for the companion diagnostic, and to file an IND for PR600. The inclusion of forward-looking statements should not be regarded as a representation by Prometheus that any of our plans will be achieved. Actual results may differ from those set forth in this press release due to the risks and uncertainties inherent in our business, including, without limitation: Prometheus' approach to the discovery and development of precision medicines based on Prometheus360™ is unproven, and the company may not be able to develop any therapeutics or companion diagnostic products of commercial value; potential delays in the commencement, enrollment and completion of clinical trials and preclinical studies, including due to the COVID-19 pandemic; Prometheus' dependence on third parties in connection with product manufacturing, research and preclinical and clinical testing, and potential supply chain disruptions related to the COVID-19 pandemic; Prometheus' ability to develop a companion diagnostic for PRA023; the success of clinical trials and preclinical studies for its product candidates and companion diagnostics; unexpected adverse side effects or inadequate efficacy of our product candidates that may limit their development, regulatory approval and/or commercialization, or may result in recalls or product liability claims; the results of preclinical studies and early clinical trials are not necessarily predictive of future results; regulatory developments in the United States and foreign countries; Prometheus may not realize any benefits from our collaboration with Dr. Falk; and other risks described in our prior press releases and filings with the Securities and Exchange Commission (SEC), including under the heading "Risk Factors" in our most recent quarterly report on Form 10-Q and any subsequent filings with the SEC. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof, and we undertake no obligation to update such statements to reflect events that occur or circumstances that exist after the date hereof. All forward-looking statements are qualified in their entirety by this cautionary statement, which is made under the safe harbor provisions of the Private Securities Litigation Reform Act of 1995.



    Prometheus Biosciences, Inc.

    Condensed Consolidated Statements of Operations

    (unaudited)

    (in thousands, except share and per share data)

     Three Months Ended  Six Months Ended 
     June 30,  June 30, 
     2021  2020  2021  2020 
                    
    Collaboration revenue$326  $179  $1,086  $407 
    Operating expenses:               
    Research and development 13,554   4,923   21,312   9,188 
    General and administrative 5,618   1,810   10,840   4,197 
    Total operating expenses 19,172   6,733   32,152   13,385 
    Loss from operations (18,846)  (6,554)  (31,066)  (12,978)
    Other income (expense), net (153)  (597)  (1,878)  (1,127)
    Loss from continued operations (18,999)  (7,151)  (32,944)  (14,105)
    Loss from discontinued operations   (1,289)    (7,463)
    Net loss$(18,999) $(8,440) $(32,944) $(21,568)
    Net loss per share, basic and diluted               
    Continued operations$(0.49) $(5.02) $(1.39) $(10.08)
    Discontinued operations$  $(0.90) $  $(5.34)
    Net loss per share, basic and diluted$(0.49) $(5.93) $(1.39) $(15.42)
    Weighted average common shares outstanding - basic and diluted 38,813,865   1,424,445   23,660,559   1,398,748 



    Prometheus Biosciences, Inc.

    Condensed Consolidated Balance Sheets 

    (unaudited)

    (in thousands)

      June 30, 2021  December 31, 2020 
    Assets        
    Cash, cash equivalents $304,389  $54,201 
    Other current assets  7,200   3,255 
    Total current assets  311,589   57,456 
    Other assets  1,577   2,177 
    Total assets $313,166  $59,633 
             
    Liabilities and Stockholders' Equity        
    Current liabilities $17,698  $15,255 
    Long-term liabilities  13,040   15,896 
    Total liabilities  30,738   31,151 
    Convertible preferred stock    126,023 
    Total stockholders' equity  282,428   (97,541)
    Total liabilities and stockholders' equity $313,166  $59,633 

     

    Company Contact:

    Noel Kurdi

    VP Investor Relations and Communications

    (646) 241-4400

    nkurdi@prometheusbiosciences.com

    Media Contact:

    Jake Robison

    CanaleComm, an Ashfield Health Company

    (619) 849-5383

    jake.robison@canalecomm.com



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  2. SAN DIEGO, Aug. 05, 2021 (GLOBE NEWSWIRE) -- Prometheus Biosciences, Inc. (NASDAQ:RXDX), with great sorrow announced today that its Chairman of the Board, Tadataka (Tachi) Yamada, M.D., KBE, passed away unexpectedly on August 4, 2021.

    "As I reflect on my time with Tachi, one word in the forefront of my mind is impact. His passion for identifying and solving big problems in healthcare and biotech, as well as his penchant for impacting humanity, is evident in his legacy of professional and academic achievements. There are few others whose work has touched so many lives," said Mark McKenna, President and CEO of Prometheus Biosciences. "On behalf of the Board of Directors, Prometheus management team and employees, we deeply mourn his loss and…

    SAN DIEGO, Aug. 05, 2021 (GLOBE NEWSWIRE) -- Prometheus Biosciences, Inc. (NASDAQ:RXDX), with great sorrow announced today that its Chairman of the Board, Tadataka (Tachi) Yamada, M.D., KBE, passed away unexpectedly on August 4, 2021.

    "As I reflect on my time with Tachi, one word in the forefront of my mind is impact. His passion for identifying and solving big problems in healthcare and biotech, as well as his penchant for impacting humanity, is evident in his legacy of professional and academic achievements. There are few others whose work has touched so many lives," said Mark McKenna, President and CEO of Prometheus Biosciences. "On behalf of the Board of Directors, Prometheus management team and employees, we deeply mourn his loss and extend our sympathies to his family."

    Over the course of his career, Dr. Yamada left an impact on many lives as a physician scientist who became a pillar of the healthcare community and a luminary leader and mentor for many companies. He had served as Prometheus' Board Chair since June 2018 and as a Venture Partner at Frazier Life Sciences since June 2015. He was a co-founder of and served as Chair of the Board of Directors for Phathom Pharmaceuticals, Passage Bio and Scout Bio. He also served as Chair of Icosavax and served as member of the Board of Directors of Agilent Technologies, Inc., Takeda Pharmaceutical Company Ltd, GlaxoSmithKline Inc., and CSL Limited.

    Before joining Frazier, Dr. Yamada was Chief Medical and Scientific Officer at Takeda Pharmaceuticals in Tokyo, as well as a member of the Board of Directors, where he was responsible for all of Takeda's research & development activities. Prior to Takeda, Dr. Yamada was President of the Bill & Melinda Gates Foundation Global Health Program in Seattle, where he oversaw over $9 billion in grants for applying technologies to address major health challenges of the developing world.

    About Prometheus Biosciences

    Prometheus Biosciences, Inc. is a clinical-stage biotechnology company pioneering a precision medicine approach for the discovery, development, and commercialization of novel therapeutic and companion diagnostic products for the treatment of immune-mediated diseases, starting first with inflammatory bowel disease (IBD). The Company's precision medicine platform, Prometheus360, combines proprietary bioinformatics discovery methods with one of the world's largest gastrointestinal bioinformatics databases to identify novel therapeutic targets and develop therapeutic candidates to engage those targets. Prometheus is headquartered in San Diego, CA.

    Prometheus Biosciences Contact:

    Noel Kurdi

    VP Investor Relations and Communications

    (646) 241-4400

    nkurdi@prometheusbiosciences.com

    Media Contact:

    Jake Robison

    CanaleComm, an Ashfield Health Company

    (619) 849-5383

    jake.robison@canalecomm.com

     



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  3. - First Anti-TL1A trial in Crohn's Disease -

    - APOLLO-CD Phase 2a along with ARTEMIS-UC Phase 2 topline results expected in fourth quarter 2022 -

    - Final Phase 1a results for PRA023 in normal healthy volunteers expected in fourth quarter 2021-

    SAN DIEGO, Aug. 02, 2021 (GLOBE NEWSWIRE) --  Prometheus Biosciences, Inc. (NASDAQ:RXDX), a clinical-stage biotechnology company pioneering a precision medicine approach for the discovery, development, and commercialization of novel therapeutic and companion diagnostic products for the treatment of immune-mediated diseases, starting first with inflammatory bowel disease (IBD), today announced the initiation of the APOLLO-CD Phase 2a clinical trial evaluating PRA023 for moderate-to-severe Crohn's disease…

    - First Anti-TL1A trial in Crohn's Disease -

    - APOLLO-CD Phase 2a along with ARTEMIS-UC Phase 2 topline results expected in fourth quarter 2022 -

    - Final Phase 1a results for PRA023 in normal healthy volunteers expected in fourth quarter 2021-

    SAN DIEGO, Aug. 02, 2021 (GLOBE NEWSWIRE) --  Prometheus Biosciences, Inc. (NASDAQ:RXDX), a clinical-stage biotechnology company pioneering a precision medicine approach for the discovery, development, and commercialization of novel therapeutic and companion diagnostic products for the treatment of immune-mediated diseases, starting first with inflammatory bowel disease (IBD), today announced the initiation of the APOLLO-CD Phase 2a clinical trial evaluating PRA023 for moderate-to-severe Crohn's disease (CD), with first patient enrollment.  

    "We are excited to advance PRA023 into the APOLLO-CD Phase 2a study as we believe its novel mechanism of action, designed to address both inflammation and fibrosis, can have a significant impact on patients suffering with Crohn's disease," said Allison Luo, MD, Chief Medical Officer of Prometheus. "We believe PRA023 has the potential to address the highest unmet need of fibrostenotic disease in this patient population."

    The APOLLO-CD Phase 2a trial is an open-label study designed to evaluate the proof-of-concept efficacy and safety of PRA023 in moderate-to-severe Crohn's disease with centrally read endoscopy as the primary endpoint. Dosing regimen of the 50 subjects in the study will consist of 1,000 mg on day 1, followed by 500 mg on weeks 2, 6, and 10 for a total of 12 weeks on therapy. The primary endpoint at week 12 will evaluate the proportion of patients achieving endoscopic improvement as defined by 50% decrease in Simple Endoscopic Score for Crohn's Disease (SES-CD), which assesses the size of mucosal ulcers, the ulcerated surface, the endoscopic extension and the presence of stenosis. Each subject will also be assessed for the status of companion diagnostic (CDx) assay we are developing and subgroup analyses for all endpoints will be conducted based on CDx results.  

    "Clinicians and patients are excited about Prometheus' precision approach coupled with the anti-fibrotic mechanistic approach of the anti-TL1A therapy," said Dr. G. Aaron Duvall, gastroenterologist and investigator at Tyler Research Institute. "I am thrilled to participate in both the ulcerative colitis and Crohn's disease studies to help bring this novel therapeutic approach, with the use of a companion diagnostic, to patients."

    Prometheus has recently completed the dosing phase of the Phase 1a clinical trial of PRA023, a single center, double-blind, placebo-controlled trial to determine the safety, tolerability, pharmacokinetics, and pharmacodynamics of PRA023 in normal healthy volunteers. Safety and tolerability observed to date supports the initiation of this Phase 2a trial.   Final Phase 1a results of PRA023 are expected in the fourth quarter of 2021. Separately, Prometheus recently initiated and dosed the first patient in the ARTEMIS-UC Phase 2 trial to evaluate the efficacy and safety of PRA023 in moderate-to-severe ulcerative colitis (UC) patients.

    About PRA023

    PRA023 is an IgG1 humanized monoclonal antibody (mAb) that has been shown to block tumor necrosis factor (TNF)-like ligand 1A (TL1A). PRA023 binds both soluble and membrane-associated human TL1A with high affinity and specificity and has the potential to substantially improve outcomes for moderate-to-severe IBD patients predisposed to increased TL1A expression. Prometheus is developing PRA023 for the treatment of the two most common forms of IBD, UC and CD. The Company has initiated enrollment in a Phase 2 trial in UC patients and a Phase 2a trial in CD patients, each utilizing a genetic-based companion diagnostic designed to identify patients who are predisposed to increased expression of TL1A and therefore potentially more likely to respond to PRA023.

    About Prometheus Biosciences

    Prometheus Biosciences, Inc. is a clinical-stage biotechnology company pioneering a precision medicine approach for the discovery, development, and commercialization of novel therapeutic and companion diagnostic products for the treatment and diagnosis of immune-mediated diseases, starting first with IBD. The Company's precision medicine platform, Prometheus360TM, combines proprietary bioinformatics discovery methods with one of the world's largest gastrointestinal bioinformatics databases to identify novel therapeutic targets and develop therapeutic candidates to engage those targets.  Prometheus is headquartered in San Diego, CA.

    Forward Looking Statements

    Prometheus cautions readers that statements contained in this press release regarding matters that are not historical facts are forward-looking statements. These statements are based on the Company's current beliefs and expectations. Such forward-looking statements include, but are not limited to statements regarding: the potential of PRA023 and a companion diagnostic to address a high unmet need for patients; and the timing of Prometheus reporting the final study results from its Phase 1a clinical trial of PRA023. The inclusion of forward-looking statements should not be regarded as a representation by Prometheus that any of our plans will be achieved. Actual results may differ from those set forth in this press release due to the risks and uncertainties inherent in our business, including, without limitation: Prometheus' approach to the discovery and development of precision medicines based on Prometheus360TM is unproven, and the Company may not be able to develop any therapeutics or companion diagnostic products of commercial value; potential delays in the commencement, enrollment and completion of clinical trials and preclinical studies; Prometheus' dependence on third parties in connection with product manufacturing, research and preclinical and clinical testing; Prometheus' ability to develop a companion diagnostic for PRA023; the success of clinical trials and preclinical studies for its product candidates and companion diagnostic; unexpected adverse side effects or inadequate efficacy of our product candidates that may limit their development, regulatory approval and/or commercialization, or may result in recalls or product liability claims; the results of preclinical studies and early clinical trials are not necessarily predictive of future results; regulatory developments in the United States and foreign countries; Prometheus' ability to obtain and maintain intellectual property protection for our product candidates and maintain our rights under intellectual property licenses; Prometheus' ability to maintain undisrupted business operations due to the COVID-19 pandemic, including delaying or otherwise disrupting its clinical trials, manufacturing and supply chain; and other risks described in the Company's prior press releases and filings with the Securities and Exchange Commission (SEC), including under the heading "Risk Factors" in Prometheus' most recent quarterly report on Form 10-Q and any subsequent filings with the SEC. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof, and Prometheus undertakes no obligation to update such statements to reflect events that occur or circumstances that exist after the date hereof. All forward-looking statements are qualified in their entirety by this cautionary statement, which is made under the safe harbor provisions of the Private Securities Litigation Reform Act of 1995.

    Contacts:

    Noel Kurdi

    VP Investor Relations and Communications

    (646) 241-4400

    nkurdi@prometheusbiosciences.com

    Media contact:

    Juniper Point

    Amy Conrad

    (858) 914-1962

    media@prometheusbiosciences.com



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  4. -First precision approach to IBD by utilizing a companion diagnostic to identify patients-

    -Phase 2a initiation in Crohn's Disease on track for 3rd Quarter 2021-

    - Further details to be provided at R&D Day on July 28th-

    SAN DIEGO, July 19, 2021 (GLOBE NEWSWIRE) -- Prometheus Biosciences, Inc. (NASDAQ:RXDX), a biotechnology company pioneering a precision medicine approach for the discovery, development, and commercialization of novel therapeutic and companion diagnostic products for the treatment of immune-mediated diseases, starting first with inflammatory bowel disease (IBD), today announced the initiation of the Phase 2 ARTEMIS-UC clinical trial evaluating PRA023 for moderate-to-severe ulcerative colitis (UC), with first patient enrollment…

    -First precision approach to IBD by utilizing a companion diagnostic to identify patients-

    -Phase 2a initiation in Crohn's Disease on track for 3rd Quarter 2021-

    - Further details to be provided at R&D Day on July 28th-

    SAN DIEGO, July 19, 2021 (GLOBE NEWSWIRE) -- Prometheus Biosciences, Inc. (NASDAQ:RXDX), a biotechnology company pioneering a precision medicine approach for the discovery, development, and commercialization of novel therapeutic and companion diagnostic products for the treatment of immune-mediated diseases, starting first with inflammatory bowel disease (IBD), today announced the initiation of the Phase 2 ARTEMIS-UC clinical trial evaluating PRA023 for moderate-to-severe ulcerative colitis (UC), with first patient enrollment. The study is placebo-controlled and statistically powered to evaluate the efficacy and safety of PRA023 in UC patients.   The company plans to provide more details of the Phase 2 ARTEMIS-UC study at R&D Day on July 28th.

    "The majority of patients with UC cannot achieve clinical remission through the use of currently available therapies," said Allison Luo, MD, Chief Medical Officer of Prometheus. "This gives Prometheus compelling motivation to rapidly advance PRA023, addressing both inflammation and fibrosis and leading the precision medicine approach in the IBD space, starting first with the ARTEMIS-UC study."

    Prometheus has recently completed the dosing phase of the Phase 1a clinical trial of PRA023, a single center, double-blind, placebo-controlled trial to determine the safety, tolerability, pharmacokinetics, and pharmacodynamics of PRA023 in normal healthy volunteers. Safety and tolerability observed to date supports the initiation of a Phase 2 trial. Final Phase 1a results of PRA023 in UC and CD are expected in the fourth quarter of 2021. Further details will be provided at the company's R&D Day on July 28, 2021. Register here: Prometheus R&D Day

    About PRA023

    PRA023 is an IgG1 humanized monoclonal antibody (mAb) that has been shown to block tumor necrosis factor (TNF)-like ligand 1A (TL1A). PRA023 binds both soluble and membrane-associated human TL1A with high affinity and specificity and has the potential to substantially improve outcomes for moderate-to-severe IBD patients predisposed to increased TL1A expression. Prometheus is developing PRA023 for the treatment of the two most common forms of IBD, Ulcerative Colitis (UC) and Crohn's Disease (CD). The Company has initiated enrollment in a Phase 2 trial in UC patients. The Company is also developing a genetic-based companion diagnostic to identify patients who are predisposed to increased expression of TL1A and therefore potentially more likely to respond to PRA023.

    About Prometheus Biosciences

    Prometheus Biosciences, Inc. is a biotechnology company pioneering a precision medicine approach for the discovery, development, and commercialization of novel therapeutic and companion diagnostic products for the treatment and diagnosis of immune-mediated diseases, starting first with IBD. The Company's precision medicine platform, Prometheus360™, combines proprietary bioinformatics discovery methods with one of the world's largest gastrointestinal bioinformatics databases to identify novel therapeutic targets and develop therapeutic candidates to engage those targets.  Prometheus is headquartered in San Diego, CA.

    Forward Looking Statements

    Prometheus cautions readers that statements contained in this press release regarding matters that are not historical facts are forward-looking statements. These statements are based on the company's current beliefs and expectations. Such forward-looking statements include, but are not limited to statements regarding: the timing of commencement of Prometheus' Phase 2 clinical trial in UC and its Phase 2a clinical trial in CD; Prometheus' Enroll360™ program and the company's ability to accelerate enrollment in its planned and other future clinical trials; and the timing of Prometheus obtaining the final study results from its Phase 1a clinical trial of PRA023. The inclusion of forward-looking statements should not be regarded as a representation by Prometheus that any of our plans will be achieved. Actual results may differ from those set forth in this press release due to the risks and uncertainties inherent in our business, including, without limitation: Prometheus' approach to the discovery and development of precision medicines based on Prometheus360™ is unproven; potential delays in the commencement, enrollment and completion of clinical trials and preclinical studies; Prometheus' dependence on third parties in connection with product manufacturing, research and preclinical and clinical testing; Prometheus' ability to develop companion diagnostics for our therapeutic product candidates; unexpected adverse side effects or inadequate efficacy of our product candidates that may limit their development, regulatory approval and/or commercialization, or may result in recalls or product liability claims; the results of preclinical studies and early clinical trials are not necessarily predictive of future results; Prometheus may not realize any benefits from our current and any future collaborations; regulatory developments in the United States and foreign countries; Prometheus' ability to obtain and maintain intellectual property protection for our product candidates and maintain our rights under intellectual property licenses; Prometheus' ability to maintain undisrupted business operations due to the COVID-19 pandemic, including delaying or otherwise disrupting its clinical trials, manufacturing and supply chain; and other risks described in the company's prior press releases and filings with the Securities and Exchange Commission (SEC), including under the heading "Risk Factors" in Prometheus' most recent quarterly report on Form 10-Q and any subsequent filings with the SEC. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof, and Prometheus undertakes no obligation to update such statements to reflect events that occur or circumstances that exist after the date hereof. All forward-looking statements are qualified in their entirety by this cautionary statement, which is made under the safe harbor provisions of the Private Securities Litigation Reform Act of 1995.

    Contacts:

    Noel Kurdi

    VP Investor Relations and Communications

    (646) 241-4400

    nkurdi@prometheusbiosciences.com

    Media contact:

    Juniper Point

    Amy Conrad

    (858) 914-1962

    media@prometheusbiosciences.com



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  5. SAN DIEGO, July 15, 2021 (GLOBE NEWSWIRE) -- Prometheus Biosciences, Inc. (NASDAQ:RXDX), a clinical-stage biotechnology company pioneering a precision medicine approach for the discovery, development, and commercialization of novel therapeutic and companion diagnostic products for the treatment of immune-mediated diseases, starting first with inflammatory bowel disease (IBD), today announced it will host its virtual R&D Day for analysts and investors at 9:00 a.m. ET on Wednesday, July 28, 2021. The program will showcase development of Prometheus' lead candidate, PRA023, focusing on the Phase 2 trial design in Ulcerative Colitis and Crohn's Disease.

    In addition to presentations by Prometheus' senior management team, the R&D Day will feature…

    SAN DIEGO, July 15, 2021 (GLOBE NEWSWIRE) -- Prometheus Biosciences, Inc. (NASDAQ:RXDX), a clinical-stage biotechnology company pioneering a precision medicine approach for the discovery, development, and commercialization of novel therapeutic and companion diagnostic products for the treatment of immune-mediated diseases, starting first with inflammatory bowel disease (IBD), today announced it will host its virtual R&D Day for analysts and investors at 9:00 a.m. ET on Wednesday, July 28, 2021. The program will showcase development of Prometheus' lead candidate, PRA023, focusing on the Phase 2 trial design in Ulcerative Colitis and Crohn's Disease.

    In addition to presentations by Prometheus' senior management team, the R&D Day will feature talks and panel discussions from renowned key opinion leaders including:

    • Tachi Yamada, MD, KBE: Venture Partner at Frazier Healthcare Partners, former President of the Bill & Melinda Gates Foundation and former head of R&D at Takeda & GSK, Chairman of the Board at Prometheus Biosciences
    • Fred Hassan: Director at Warburg Pincus, LLC, former CEO of Schering-Plough and former director at Amgen
    • Brian Feagan, MD: gastroenterologist, epidemiologist and Senior Scientific Director at Alimentiv
    • Dermot McGovern, MD, PhD: Director of Translational Medicine at the Inflammatory Bowel and Immunobiology Research Institute at Cedars-Sinai
    • Umer Raffat: Senior Managing Director at Evercore ISI
    • William Sandborn, MD: Professor of Medicine at the University of California San Diego, Chairman of Prometheus Biosciences Scientific Advisory Board
    • Stephan Targan, MD: Director of Inflammatory Bowel and Immunobiology Research Institute at Cedars-Sinai

    The agenda for the Prometheus R&D Day is as follows:

    Introduction from the CEO

    • Welcome and Perspectives: Mark McKenna, President & CEO of Prometheus Biosciences

    The Science of TL1A in IBD

    • TL1A Discovery: Stephan Targan, MD
    • Mechanism of Action for PRA023: Olivier Laurent, PhD, CTO of Prometheus Biosciences
    • Genetic Associations of TL1A: Dermot McGovern, MD, PhD
    • Companion Diagnostic for PRA023: Laurens Kruidenier, PhD, CSO of Prometheus Biosciences

    PRA023 in IBD

    • Unmet Need and Implication of Precision Approach in IBD: William Sandborn, MD
    • IBD Study Designs in Ulcerative Colitis and Crohn's Disease: Brian Feagan, MD
    • PRA023 Phase 2 Trial in Ulcerative Colitis and Phase 2a in Crohn's Disease: Allison Luo, MD, CMO of Prometheus Biosciences

    Closing Remarks and Panel Discussion

    • Prometheus' Upcoming Milestones and Vision for Future Growth: Mark McKenna, President & CEO of Prometheus Biosciences
    • Panel Discussion: Umer Raffat as Moderator, Senior Managing Director at Evercore
    • Tachi Yamada, MD, KBE
    • Fred Hassan
    • William Sandborn, MD
    • Allison Luo, MD
    • Brian Feagan, MD
    • Dermot McGovern, MD, PhD

    Registration for the event as well as a live and archived webcast of the R&D Day will be available in the Events section of the Prometheus Biosciences website.

    About Prometheus Biosciences

    Prometheus Biosciences, Inc. is a clinical-stage biotechnology company pioneering a precision medicine approach for the discovery, development, and commercialization of novel therapeutic and companion diagnostic products for the treatment and diagnosis of immune-mediated diseases, starting first with IBD. The Company's precision medicine platform, Prometheus360TM, combines proprietary bioinformatics discovery methods with one of the world's largest gastrointestinal bioinformatics databases to identify novel therapeutic targets and develop therapeutic candidates to engage those targets. Prometheus is headquartered in San Diego, CA.

    Forward Looking Statements

    Prometheus cautions readers that statements contained in this press release regarding matters that are not historical facts are forward-looking statements. These statements are based on the company's current beliefs and expectations. Such forward-looking statements include, but are not limited to statements regarding: the timing of commencement of Prometheus' Phase 2 clinical trial in Ulcerative Colitis and its Phase 2a clinical trial in Crohn's Disease; Prometheus' Enroll360 program and the company's ability to accelerate enrollment in its planned and other future clinical trials; and the timing of Prometheus obtaining the final study results from its Phase 1a clinical trial of PRA023. The inclusion of forward-looking statements should not be regarded as a representation by Prometheus that any of our plans will be achieved. Actual results may differ from those set forth in this press release due to the risks and uncertainties inherent in our business, including, without limitation: Prometheus' approach to the discovery and development of precision medicines based on Prometheus360 is unproven; potential delays in the commencement, enrollment and completion of clinical trials and preclinical studies; Prometheus' dependence on third parties in connection with product manufacturing, research and preclinical and clinical testing; Prometheus' ability to develop companion diagnostics for our therapeutic product candidates; unexpected adverse side effects or inadequate efficacy of our product candidates that may limit their development, regulatory approval and/or commercialization, or may result in recalls or product liability claims; the results of preclinical studies and early clinical trials are not necessarily predictive of future results; Prometheus may not realize any benefits from our current and any future collaborations; regulatory developments in the United States and foreign countries; Prometheus' ability to obtain and maintain intellectual property protection for our product candidates and maintain our rights under intellectual property licenses; Prometheus' ability to maintain undisrupted business operations due to the COVID-19 pandemic, including delaying or otherwise disrupting its clinical trials, manufacturing and supply chain; and other risks described in the company's prior press releases and filings with the Securities and Exchange Commission (SEC), including under the heading "Risk Factors" in Prometheus' most recent quarterly report on Form 10-Q and any subsequent filings with the SEC. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof, and Prometheus undertakes no obligation to update such statements to reflect events that occur or circumstances that exist after the date hereof. All forward-looking statements are qualified in their entirety by this cautionary statement, which is made under the safe harbor provisions of the Private Securities Litigation Reform Act of 1995.

    Investors:

    Noel Kurdi

    VP Investor Relations and Communications

    (646) 241-4400

    nkurdi@prometheusbiosciences.com

    Media:

    Juniper Point

    Amy Conrad

    (858) 914-1962

    media@prometheusbiosciences.com



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  6. Eleusis, a clinical-stage life science company dedicated to unlocking the full therapeutic potential of psychedelics, today announced the appointment of four highly experienced business leaders to its board of directors. The new directors' deep expertise building high-growth, high-impact life science companies complements Eleusis's world-class leadership team. The appointees include:

    • David Socks, former CEO of Phathom Pharmaceuticals, joining as Chair of the board
    • Robert Hershberg, M.D., Ph.D., former CBO and CSO of Celgene
    • John Tucker, CEO of SC Pharmaceuticals
    • Esther van den Boom, Managing Partner at van den Boom & Associates

    "We are delighted to welcome these four exceptional directors, who bring with them decades of experience…

    Eleusis, a clinical-stage life science company dedicated to unlocking the full therapeutic potential of psychedelics, today announced the appointment of four highly experienced business leaders to its board of directors. The new directors' deep expertise building high-growth, high-impact life science companies complements Eleusis's world-class leadership team. The appointees include:

    • David Socks, former CEO of Phathom Pharmaceuticals, joining as Chair of the board
    • Robert Hershberg, M.D., Ph.D., former CBO and CSO of Celgene
    • John Tucker, CEO of SC Pharmaceuticals
    • Esther van den Boom, Managing Partner at van den Boom & Associates

    "We are delighted to welcome these four exceptional directors, who bring with them decades of experience building successful therapeutics-focused life sciences companies," said Shlomi Raz, Eleusis's CEO and founder. "Our management team is thrilled to have these individuals help support and guide the company's effort to discover, develop, and deliver transformational psychedelic drug therapies to patients in urgent need of new treatment alternatives."

    "This is an opportune moment for Eleusis to push forward its vision of transforming psychedelics into modern medicines," said David Socks, Chair of the board. "On behalf of myself and my fellow directors, we are excited to be involved in a science-driven company that is pursuing a disciplined, thoughtful approach to transforming psychedelics into potential treatment options for patients with depression and other neuropsychiatric disorders, where there is significant unmet need."

    ELE-Psilo, the company's lead psychedelic drug candidate, is based on a proprietary, infusible form of psilocybin and is expected to enter clinical trials in early 2022. The company is also in the process of nationally scaling its innovative care delivery platform for psychedelic drug therapy to provide patients with affordable therapeutic alternatives for depression in a safe and caring environment.

    Board Appointments

    David Socks currently serves on the board of directors of Phathom Pharmaceuticals (NASDAQ:PHAT), where he was the founding CEO through the company's IPO. He also serves as a Venture Partner at Frazier Healthcare Partners, where he helps lead the firm's company creation efforts, co-founding companies such as Arcutis (NASDAQ:ARQT), Passage Bio (NASDAQ:PASG) and Scout Bio. Mr. Socks has also served as an advisor to Prometheus Bioscience (NASDAQ:RXDX) and PvP Biologics (acquired by Takeda). Previously, he was co-founder, President and COO of Incline Therapeutics (acquired by the Medicines Company) and co-founder and Senior Vice President, Corporate Development and Strategy of Cadence Pharmaceuticals (NASDAQ:CADX, acquired by Mallinckrodt))). Mr. Socks holds a B.S. from Georgetown University and an M.B.A from Stanford University.

    Robert Hershberg, M.D., Ph.D., is a Venture Partner on the life sciences team at Frazier Healthcare Partners. Dr. Hershberg previously served as President and Chief Executive Officer of VentiRx Pharmaceuticals, a Frazier-founded company that he led through its transformational partnership with Celgene. Mr. Hershberg then joined Celgene, where he was promoted to Chief Scientific Officer and subsequently to Chief Business Officer. Before VentiRx, he served as Senior Vice President and Chief Medical Officer of Dendreon Corporation and as Vice President of Medical Genetics at Corixa, a Frazier portfolio company. Earlier in his career, he was an Assistant Professor at Harvard Medical School and an Associate Physician at Brigham and Women's Hospital in Boston. Dr. Hershberg received his undergraduate and medical degrees from the University of California, Los Angeles, and his Ph.D. from the Salk Institute for Biological Studies.

    John H. Tucker is the Chief Executive Officer of scPharmaceuticals. Mr. Tucker previously served as Chief Executive Officer at Algal Scientific and Alcresta, where he led both companies through successful periods of strategic innovation and development. Throughout his career, he has held senior positions at multiple life sciences companies, including Incline Therapeutics, AMAG Pharmaceuticals, Basilea Pharmaceuticals and Indevus Pharmaceuticals. He also worked in a variety of hospital and retail-based sales and marketing roles at Ortho-McNeil Pharmaceuticals, ALZA Corporation, VIVUS and UCB Pharma. Mr. Tucker holds a B.A. from Plymouth State College and an M.B.A. from New Hampshire College.

    Esther van den Boom is Managing Partner of van den Boom & Associates and Chief Financial Officer of Tyra Biosciences. Ms. van den Boom has personally worked with over 50 life sciences companies throughout her career, partnering on various responsibilities including CFO, SOX 404 implementations, compliance and IPO assistance. Prior to founding van den Boom & Associates, she worked at Ernst & Young LLP as a Senior Manager in their San Diego office's audit practice. Ms. van den Boom received a B.A. in economics from the University of California, San Diego and an M.S. in accountancy from San Diego State University and is a licensed CPA.

    About Eleusis Ltd.

    Founded in 2013, Eleusis is a privately held, clinical-stage life science company dedicated to unlocking the full therapeutic potential of psychedelics, guided by science and enabled by drug discovery, clinical development and care delivery design. The company's comprehensive discovery, development and delivery capabilities enable it to target a broad spectrum of unmet needs within psychiatry, and beyond psychiatry. For more information, visit https://www.eleusisltd.com/.

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  7. -Prometheus receives $10 million payment triggered by selection of clinical candidate for PR600-

    -IND for PR600 expected in 3Q 2022-

    SAN DIEGO, June 21, 2021 (GLOBE NEWSWIRE) -- Prometheus Biosciences, Inc. (NASDAQ:RXDX), a clinical-stage biotechnology company pioneering a precision medicine approach for the discovery, development, and commercialization of novel therapeutic and companion diagnostic products for the treatment of immune-mediated diseases, starting first with inflammatory bowel disease (IBD), today announced it has received a $10 million milestone payment from Dr. Falk Pharma GmbH under its collaboration agreement to develop and commercialize Prometheus' second program, PR600. Prometheus has selected a clinical candidate for…

    -Prometheus receives $10 million payment triggered by selection of clinical candidate for PR600-

    -IND for PR600 expected in 3Q 2022-

    SAN DIEGO, June 21, 2021 (GLOBE NEWSWIRE) -- Prometheus Biosciences, Inc. (NASDAQ:RXDX), a clinical-stage biotechnology company pioneering a precision medicine approach for the discovery, development, and commercialization of novel therapeutic and companion diagnostic products for the treatment of immune-mediated diseases, starting first with inflammatory bowel disease (IBD), today announced it has received a $10 million milestone payment from Dr. Falk Pharma GmbH under its collaboration agreement to develop and commercialize Prometheus' second program, PR600. Prometheus has selected a clinical candidate for PR600, targeting an undisclosed member of the tumor-necrosis factor superfamily for the treatment of IBD and is initiating IND-enabling studies.

    "Partnering with Dr. Falk on PR600 has enabled us to accelerate the PR600 program by sharing costs, resources, and drug development know-how, which has resulted in the achievement of this important milestone within the first year of our collaboration," said Mark McKenna, President and CEO of Prometheus. "We expect to file an Investigational New Drug Application for PR600 in the third quarter of 2022 and plan to explore its utility in other immune-mediated indications beyond IBD."

    Under the collaboration agreement, which was executed in July 2020, Prometheus and Dr. Falk will share responsibility for the global development of PR600, with Dr. Falk contributing a certain portion of the external development costs associated with PR600 and its companion diagnostic. Dr. Falk acquired exclusive rights to commercialize PR600 in Europe, Australia and New Zealand, and Prometheus retains exclusive rights to commercialize PR600 in the United Stated and rest of world.

    About Dr. Falk Pharma GmbH

    Dr. Falk Pharma GmbH specializes in the development and marketing of pharmaceuticals used in hepatology and gastroenterology. Falk is one of the leading European companies in the field marketing its products by means of subsidiaries in selected countries and a network of sales partners. Further, the Falk Foundation, an independent organization associated with Dr. Falk Pharma, is well-known for its international symposia, forums and educational literature supporting medical doctors, patients and their families.

    About Prometheus Biosciences

    Prometheus Biosciences, Inc. is a clinical-stage biotechnology company pioneering a precision medicine approach for the discovery, development, and commercialization of novel therapeutic and companion diagnostic products for the treatment and diagnosis of immune-mediated diseases, starting first with IBD. The Company's precision medicine platform, Prometheus360TM, combines proprietary bioinformatics discovery methods with one of the world's largest gastrointestinal bioinformatics databases to identify novel therapeutic targets and develop therapeutic candidates to engage those targets. Prometheus is headquartered in San Diego, CA.

    Forward Looking Statements

    Prometheus cautions readers that statements contained in this press release regarding matters that are not historical facts are forward-looking statements. These statements are based on our current beliefs and expectations. Such forward-looking statements include, but are not limited to statements regarding Prometheus' expected timing to file an IND for PR600, the realization of future cost savings under the collaboration with Dr. Falk, and Prometheus' plans to explore PR600 in other indications beyond IBD. The inclusion of forward-looking statements should not be regarded as a representation by Prometheus that any of our plans will be achieved. Actual results may differ from those set forth in this press release due to the risks and uncertainties inherent in our business, including, without limitation: Prometheus' approach to the discovery and development of precision medicines based on Prometheus360 is unproven; potential delays in the commencement, enrollment and completion of preclinical studies and future clinical trials, including due to the COVID-19 pandemic; Prometheus' dependence on third parties in connection with product manufacturing, research and preclinical and clinical testing, and potential supply chain disruptions related to the COVID-19 pandemic; Prometheus' ability to develop a companion diagnostic for PR600; Prometheus may not realize any benefits from our collaboration with Dr. Falk; and other risks described in our prior press releases and filings with the Securities and Exchange Commission (SEC), including under the heading "Risk Factors" in our most recent quarterly report on Form 10-Q and any subsequent filings with the SEC. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof, and we undertake no obligation to update such statements to reflect events that occur or circumstances that exist after the date hereof. All forward-looking statements are qualified in their entirety by this cautionary statement, which is made under the safe harbor provisions of the Private Securities Litigation Reform Act of 1995.

    Investors:

    Noel Kurdi

    VP Investor Relations and Communications

    (646) 241-4400

    nkurdi@prometheusbiosciences.com

    Media:

    Juniper Point

    Amy Conrad

    (858) 914-1962

    media@prometheusbiosciences.com



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  8. SAN DIEGO, May 25, 2021 (GLOBE NEWSWIRE) -- Prometheus Biosciences, Inc. (NASDAQ:RXDX), a clinical-stage biotechnology company pioneering a precision medicine approach for the discovery, development, and commercialization of novel therapeutic and companion diagnostic products for the treatment of immune-mediated diseases, starting first with inflammatory bowel disease (IBD), today announced that Mark McKenna, President and CEO, and Laurens Kruidenier, CSO, will present at the Jefferies Virtual Healthcare Conference on Tuesday, June 1, 2021 at 11:30am ET.

    A live and archived webcast of the virtual presentation will be available via the Events section of the Prometheus Biosciences website.

    About Prometheus Biosciences

    Prometheus Biosciences…

    SAN DIEGO, May 25, 2021 (GLOBE NEWSWIRE) -- Prometheus Biosciences, Inc. (NASDAQ:RXDX), a clinical-stage biotechnology company pioneering a precision medicine approach for the discovery, development, and commercialization of novel therapeutic and companion diagnostic products for the treatment of immune-mediated diseases, starting first with inflammatory bowel disease (IBD), today announced that Mark McKenna, President and CEO, and Laurens Kruidenier, CSO, will present at the Jefferies Virtual Healthcare Conference on Tuesday, June 1, 2021 at 11:30am ET.

    A live and archived webcast of the virtual presentation will be available via the Events section of the Prometheus Biosciences website.

    About Prometheus Biosciences

    Prometheus Biosciences, Inc. is a clinical-stage biotechnology company pioneering a precision medicine approach for the discovery, development, and commercialization of novel therapeutic and companion diagnostic products for the treatment and diagnosis of immune-mediated diseases, starting first with IBD. The Company's precision medicine platform, Prometheus360, combines proprietary bioinformatics discovery methods with one of the world's largest gastrointestinal bioinformatics databases to identify novel therapeutic targets and develop therapeutic candidates to engage those targets.  Prometheus is headquartered in San Diego, CA.

    Contacts:

    Noel Kurdi

    VP Investor Relations and Communications

    (646) 241-4400

    nkurdi@prometheusbiosciences.com

    Media contact

    Juniper Point

    Amy Conrad

    (858) 914-1962

    media@prometheusbiosciences.com



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  9. SAN DIEGO, May 17, 2021 (GLOBE NEWSWIRE) -- Prometheus Biosciences, Inc. (NASDAQ:RXDX), a clinical-stage biotechnology company pioneering a precision medicine approach for the discovery, development, and commercialization of novel therapeutic and companion diagnostic products for the treatment of immune-mediated diseases, starting first with inflammatory bowel disease (IBD), today announced the appointment of Fred Hassan to its Board of Directors.

    "We're honored to have a highly accomplished industry titan like Fred join our Board at this pivotal time," said Mark McKenna, President and CEO of Prometheus. "Fred's wealth of experience over the last thirty years as an investor, board member, and executive of global pharmaceutical corporations…

    SAN DIEGO, May 17, 2021 (GLOBE NEWSWIRE) -- Prometheus Biosciences, Inc. (NASDAQ:RXDX), a clinical-stage biotechnology company pioneering a precision medicine approach for the discovery, development, and commercialization of novel therapeutic and companion diagnostic products for the treatment of immune-mediated diseases, starting first with inflammatory bowel disease (IBD), today announced the appointment of Fred Hassan to its Board of Directors.

    "We're honored to have a highly accomplished industry titan like Fred join our Board at this pivotal time," said Mark McKenna, President and CEO of Prometheus. "Fred's wealth of experience over the last thirty years as an investor, board member, and executive of global pharmaceutical corporations, will strengthen our board as we advance our pipeline of precision therapies for immune-mediated diseases. On behalf of the Board, I welcome Fred and we are eager to benefit from his insights and acumen."

    Mr. Hassan joined Warburg Pincus LLC, a global private equity investment institution, in 2009 and currently serves as Director. Previously, Mr. Hassan served as Chairman and Chief Executive Officer of Schering-Plough from 2003 to 2009. Before assuming these roles, from 2001 to 2003, Mr. Hassan was Chairman and Chief Executive Officer of Pharmacia Corporation, a company formed through the merger of Monsanto Company and Pharmacia & Upjohn, Inc. He joined Pharmacia & Upjohn, Inc. as Chief Executive Officer in 1997.

    Mr. Hassan has been a director of Amgen, Inc. since 2015 and of Precigen Corporation, a synthetic biology company, since 2016. He was a director of Time Warner Inc. from 2009 until its acquisition by AT&T Inc. in 2018 and a director of Avon Products, Inc. from 1999 until 2013, where he served as Chairman of the Board between January and April 2013. He was Chairman of the Board of Bausch & Lomb from 2010 until its acquisition by Valeant Pharmaceuticals International, Inc. in 2013 and served on the board of Valeant Pharmaceuticals from 2013 to 2014. Mr. Hassan received an undergraduate degree from Imperial College of Science and Technology, University of London and a master's degree in business administration from Harvard Business School.

    Mr. Hassan added, "Prometheus has great potential to disrupt the immune-mediated disease space and industry as a whole. I'm impressed with their clinical-stage pipeline, the Prometheus360TM platform, as well as their strong financial position following their recent IPO. I look forward to working closely with the Prometheus leadership and board as they transform patients' lives by applying their precision approach to IBD and beyond."

    About Prometheus Biosciences

    Prometheus Biosciences, Inc. is a clinical-stage biotechnology company pioneering a precision medicine approach for the discovery, development, and commercialization of novel therapeutic and companion diagnostic products for the treatment and diagnosis of immune-mediated diseases, starting first with IBD. The Company's precision medicine platform, Prometheus360TM, combines proprietary bioinformatics discovery methods with one of the world's largest gastrointestinal bioinformatics databases to identify novel therapeutic targets and develop therapeutic candidates to engage those targets. Prometheus is headquartered in San Diego, CA.

    Forward Looking Statements

    Prometheus cautions readers that statements contained in this press release regarding matters that are not historical facts are forward-looking statements. These statements are based on the company's current beliefs and expectations. Such forward-looking statements include, but are not limited to statements regarding Prometheus' pipeline, the Prometheus360 platform, and the company's potential in IBD and the broader immune-mediated disease space. The inclusion of forward-looking statements should not be regarded as a representation by Prometheus that any of its plans will be achieved. Actual results may differ from those set forth in this press release due to the risks and uncertainties inherent in our business, including, without limitation: Prometheus' approach to the discovery and development of precision medicines based on Prometheus360 is unproven; Prometheus' ability to develop companion diagnostics for its therapeutic product candidates; potential delays in the commencement, enrollment and completion of clinical trials and preclinical studies; Prometheus' dependence on third parties in connection with product manufacturing, research and preclinical and clinical testing; unexpected adverse side effects or inadequate efficacy of its product candidates that may limit their development; Prometheus' ability to maintain undisrupted business operations due to the COVID-19 pandemic, including delaying or otherwise disrupting its clinical trials, manufacturing and supply chain; and other risks described in the company's prior press releases and filings with the Securities and Exchange Commission (SEC), including under the heading "Risk Factors" in Prometheus' most recent quarterly report on Form 10-Q and any subsequent filings with the SEC. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof, and Prometheus undertakes no obligation to update such statements to reflect events that occur or circumstances that exist after the date hereof. All forward-looking statements are qualified in their entirety by this cautionary statement, which is made under the safe harbor provisions of the Private Securities Litigation Reform Act of 1995.

    Investors:

    Noel Kurdi

    VP Investor Relations and Communications

    (646) 241-4400

    nkurdi@prometheusbiosciences.com

    Media:

    Juniper Point

    Amy Conrad

    (858) 914-1962

    media@prometheusbiosciences.com



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  10. SAN DIEGO, May 14, 2021 (GLOBE NEWSWIRE) -- Prometheus Biosciences, Inc. (NASDAQ:RXDX), a clinical-stage biotechnology company pioneering a precision medicine approach for the discovery, development, and commercialization of novel therapeutic and companion diagnostic products for the treatment of immune-mediated diseases, starting first with inflammatory bowel disease (IBD), today announced that Mark McKenna, President and CEO, will participate virtually in a fireside chat during the 2021 RBC Capital Markets Global Healthcare Conference on Wednesday, May 19, 2021 at 10:55 a.m. ET.

    A live and archived webcast of the virtual fireside chat will be available via the Events section of the Prometheus Biosciences website.

    About Prometheus Biosciences

    SAN DIEGO, May 14, 2021 (GLOBE NEWSWIRE) -- Prometheus Biosciences, Inc. (NASDAQ:RXDX), a clinical-stage biotechnology company pioneering a precision medicine approach for the discovery, development, and commercialization of novel therapeutic and companion diagnostic products for the treatment of immune-mediated diseases, starting first with inflammatory bowel disease (IBD), today announced that Mark McKenna, President and CEO, will participate virtually in a fireside chat during the 2021 RBC Capital Markets Global Healthcare Conference on Wednesday, May 19, 2021 at 10:55 a.m. ET.

    A live and archived webcast of the virtual fireside chat will be available via the Events section of the Prometheus Biosciences website.

    About Prometheus Biosciences

    Prometheus Biosciences, Inc. is a clinical-stage biotechnology company pioneering a precision medicine approach for the discovery, development, and commercialization of novel therapeutic and companion diagnostic products for the treatment and diagnosis of immune-mediated diseases, starting first with IBD. The Company's precision medicine platform, Prometheus360, combines proprietary bioinformatics discovery methods with one of the world's largest gastrointestinal bioinformatics databases to identify novel therapeutic targets and develop therapeutic candidates to engage those targets.  Prometheus is headquartered in San Diego, CA.

    Contacts:

    Noel Kurdi

    VP Investor Relations and Communications

    (646) 241-4400

    nkurdi@prometheusbiosciences.com 

    Media contact:

    Juniper Point

    Amy Conrad

    (858) 914-1962

    media@prometheusbiosciences.com 



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  11. -PRA023, an anti-TL1A mAb, on track to initiate Phase 2 study for Ulcerative Colitis and Phase 2a study for Crohn's Disease in 3Q 2021-

    -Launched Prometheus Enroll360™, a global patient recruitment platform for accelerated patient enrollment in future biomarker-guided clinical trials-

    -Successful completion of oversubscribed $218.5 million initial public offering-

    SAN DIEGO, May 13, 2021 (GLOBE NEWSWIRE) -- Prometheus Biosciences, Inc. (NASDAQ:RXDX), a biotechnology company pioneering a precision medicine approach for the discovery, development, and commercialization of novel therapeutic and companion diagnostic products for the treatment of immune-mediated diseases, starting first with inflammatory bowel disease (IBD), today reported…

    -PRA023, an anti-TL1A mAb, on track to initiate Phase 2 study for Ulcerative Colitis and Phase 2a study for Crohn's Disease in 3Q 2021-

    -Launched Prometheus Enroll360™, a global patient recruitment platform for accelerated patient enrollment in future biomarker-guided clinical trials-

    -Successful completion of oversubscribed $218.5 million initial public offering-

    SAN DIEGO, May 13, 2021 (GLOBE NEWSWIRE) -- Prometheus Biosciences, Inc. (NASDAQ:RXDX), a biotechnology company pioneering a precision medicine approach for the discovery, development, and commercialization of novel therapeutic and companion diagnostic products for the treatment of immune-mediated diseases, starting first with inflammatory bowel disease (IBD), today reported financial results for the quarter ended March 31, 2021 and highlighted recent corporate progress.

    "2021 is shaping up to be a transformational year for Prometheus with the successful completion of our IPO and planned advancement of our lead program, PRA023, into a Phase 2 Ulcerative Colitis (UC) trial and a Phase 2a Crohn's Disease (CD) trial in the third quarter," said Mark McKenna, President and CEO of Prometheus. "This will be the first trial in the IBD space that will utilize a precision medicine approach with a novel mechanism of action designed to address both inflammation and fibrosis, which we believe is important to drive clinically meaningful outcomes for patients."

    First Quarter 2021 and Recent Corporate Highlights

    Launched Prometheus Enroll360™ to accelerate patient recruitment. Prometheus' Enroll360™ is a global patient recruitment platform that is designed to accelerate development timelines by improving the efficiency of patient identification and increasing the rate of enrollment for its biomarker-guided clinical trials.  Prometheus is building a global network of trial-ready sites where over 5,000 patients will be molecularly profiled and clinically characterized to determine their eligibility for Prometheus clinical trials.  The company plans to utilize Enroll360™ in Prometheus' companion diagnostic-paired clinical trials for PRA023 as well as future programs.

    Expanded precision medicine pipeline with new programs for IBD

    • PR1100 targets a pro-inflammatory cytokine receptor associated with several auto-immune diseases, with multiple Crohn's disease-associated SNPs identified in the gene locus of this target, and other members of this signaling pathway
    • PR1800 targets a chemo-attractant factor which contributes to the local accumulation of a defined inflammatory effector cell population in the GI tract
    • PR2100 targets a cytokine implicated in a range of inflammatory and fibrotic diseases. In IBD specifically, this cytokine has been implicated to contribute to non-response to anti-TNF therapies

    Strengthened leadership and Board of Directors. Prometheus appointed commercial veteran Mark Stenhouse as Chief Operating Officer, Chris Doughty as Chief Business Officer, and Nori Ebersole as Chief People Officer to the Company and appointed experienced biotech leaders Helen C. Adams, CPA, Judith Swain, MD, and Mary Szela to its Board of Directors.

    Completed initial public offering.   On March 16, 2021, the company completed its IPO issuing 11,500,000 shares of common stock, which included the full exercise by the underwriters of their option to purchase 1,500,000 additional shares, at $19.00 per share resulting in gross proceeds of $218.5 million, before deducting underwriting discounts and commissions and other offering expenses.

    Upcoming Milestones and Events

    • Initiation of Phase 2 UC trial and Phase 2a CD trial of PRA023 expected in 3Q 2021
    • R&D day planned for 3Q 2021 to discuss TL1A mechanism and PRA023 Phase 2 study designs
    • Final Phase 1a trial results of PRA023 expected in 4Q 2021

    First Quarter 2021 Financial Results

    Cash and Cash Equivalents.   As of March 31, 2021, Prometheus Biosciences had cash and cash equivalents of $311.2 million, compared to $54.2 million at the end of 2020. We received net proceeds of $199.8 million from the sale of our common stock in our IPO, and net proceeds of $73.7 million from the sale of shares of our Series D-2 convertible preferred stock.

    Collaboration Revenue. Revenue was $0.8 million for the three months ended March 31, 2021 compared to $0.2 million for the three months ended March 31, 2020 due to additional revenue generated from Prometheus' partnership with Dr. Falk Pharma.

    Research and Development (R&D) Expenses. Research and development expenses were $7.8 million for the three months ended March 31, 2021 compared to $4.3 million for the three months ended March 31, 2020. The increase of $3.5 million for the three months ended March 31, 2021 compared to the three months ended March 31, 2020 was primarily driven by a $3.0 million increase in expenses related to research and development expenses for our product candidates and a $0.5 million increase in expenses related to personnel costs due to increased headcount to support increased development activities.

    General and Administrative (G&A) Expenses. General and administrative expenses were $5.2 million for the three months ended March 31, 2021 compared to $2.4 million for the three months ended March 31, 2020. The increase of $2.8 million for the three months ended March 31, 2021 compared to the three months ended March 31, 2020 was primarily driven by one-time transaction costs related to our IPO of $1.8 million with the remainder due to increases in corporate personnel costs due to the expansion of our executive team.

    About PRA023

    PRA023 is an IgG1 humanized monoclonal antibody (mAb) that has been shown to block tumor necrosis factor (TNF)-like ligand 1A (TL1A). PRA023 binds both soluble and membrane-associated human TL1A with high affinity and specificity and has the potential to substantially improve outcomes for moderate-to-severe IBD patients predisposed to increased TL1A expression. Prometheus is developing PRA023 for the treatment of Ulcerative Colitis (UC) and Crohn's Disease (CD) and initiated a Phase 1a clinical trial in normal healthy volunteers in December 2020. The Company is also developing a genetic-based companion diagnostic to identify patients who are predisposed to increased expression of TL1A and therefore potentially more likely to respond to PRA023.

    About Prometheus Biosciences

    Prometheus Biosciences, Inc. is a biotechnology company pioneering a precision medicine approach for the discovery, development, and commercialization of novel therapeutic and companion diagnostic products for the treatment and diagnosis of immune-mediated diseases, starting first with IBD. The Company's precision medicine platform, Prometheus360, combines proprietary bioinformatics discovery methods with one of the world's largest gastrointestinal bioinformatics databases to identify novel therapeutic targets and develop therapeutic candidates to engage those targets.  Prometheus is headquartered in San Diego, CA.

    Forward Looking Statements

    Prometheus cautions readers that statements contained in this press release regarding matters that are not historical facts are forward-looking statements. These statements are based on the company's current beliefs and expectations. Such forward-looking statements include, but are not limited to statements regarding: the timing of commencement of Prometheus' Phase 2 clinical trial in UC and its Phase 2a clinical trial in CD; Prometheus' Enroll360 program and the company's ability to accelerate enrollment in its planned and other future clinical trials; and the timing of Prometheus obtaining the final study results from its Phase 1a clinical trial of PRA023. The inclusion of forward-looking statements should not be regarded as a representation by Prometheus that any of our plans will be achieved. Actual results may differ from those set forth in this press release due to the risks and uncertainties inherent in our business, including, without limitation: Prometheus' approach to the discovery and development of precision medicines based on Prometheus360 is unproven; potential delays in the commencement, enrollment and completion of clinical trials and preclinical studies; Prometheus' dependence on third parties in connection with product manufacturing, research and preclinical and clinical testing; Prometheus' ability to develop companion diagnostics for our therapeutic product candidates; unexpected adverse side effects or inadequate efficacy of our product candidates that may limit their development, regulatory approval and/or commercialization, or may result in recalls or product liability claims; the results of preclinical studies and early clinical trials are not necessarily predictive of future results; Prometheus may not realize any benefits from our current and any future collaborations; regulatory developments in the United States and foreign countries; Prometheus' ability to obtain and maintain intellectual property protection for our product candidates and maintain our rights under intellectual property licenses; Prometheus' ability to maintain undisrupted business operations due to the COVID-19 pandemic, including delaying or otherwise disrupting its clinical trials, manufacturing and supply chain; and other risks described in the company's prior press releases and filings with the Securities and Exchange Commission (SEC), including under the heading "Risk Factors" in Prometheus' most recent quarterly report on Form 10-Q and any subsequent filings with the SEC. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof, and Prometheus undertakes no obligation to update such statements to reflect events that occur or circumstances that exist after the date hereof. All forward-looking statements are qualified in their entirety by this cautionary statement, which is made under the safe harbor provisions of the Private Securities Litigation Reform Act of 1995.

     
    Prometheus Biosciences, Inc.
    Condensed Consolidated Statements of Operations
    (unaudited)
    (in thousands, except share and per share data)
         
         
      Three Months Ended
    31-Mar
       2021   2020 
         
    Collaboration revenue$760  $228 
    Operating expenses:   
    Research and development 7,758   4,265 
    General and administrative 5,222   2,387 
    Total operating expenses 12,980   6,652 
    Loss from operations (12,220)  (6,424)
    Other income (expense), net (1,725)  (530)
    Loss from continued operations (13,945)  (6,954)
    Loss from discontinued operations    (6,174)
    Net loss$(13,945) $(13,128)
    Net loss per share, basic and diluted     
    Continued operations $(1.67) $(5.06)
    Discontinued operations $  $(4.50)
    Net loss per share, basic and diluted$(1.67) $(9.56)
    Weighted average common shares outstanding - basic and diluted 8,338,892   1,373,050 
           



    Prometheus Biosciences, Inc.
    Condensed Consolidated Balance Sheets 
    (unaudited)
    (in thousands)
        
     March 31,

    2021
     December 31,

    2020
    Assets   
    Cash, cash equivalents$311,231  $54,201 
    Other current assets 7,389   3,255 
    Total current assets 318,620   57,456 
    Other assets 1,381   2,177 
    Total assets$320,001  $59,633 
        
    Liabilities and Stockholders' Equity   
    Current liabilities$8,787  $15,255 
    Long-term liabilities 11,015   15,896 
    Total liabilities 19,802   31,151 
    Convertible preferred stock    126,023 
    Total stockholders' equity 300,199   (97,541)
    Total liabilities and stockholders' equity$320,001  $59,633 
           

    Contacts:

    Noel Kurdi

    VP Investor Relations and Communications

    (646) 241-4400

    nkurdi@prometheusbiosciences.com

    Media contact:

    Juniper Point

    Amy Conrad

    (858) 914-1962

    media@prometheusbiosciences.com 



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  12. SAN DIEGO, March 16, 2021 /PRNewswire/ -- Prometheus Biosciences, Inc. (NASDAQ:RXDX), a biotechnology company pioneering a precision medicine approach for the discovery, development, and commercialization of novel therapeutic and companion diagnostic products for the treatment of inflammatory bowel disease (IBD), today announced the closing of its initial public offering of 11,500,000 shares of common stock, which includes the exercise in full by the underwriters of their option to purchase 1,500,000 additional shares, at a public offering price of $19.00 per share. All of the shares were offered by Prometheus. The aggregate gross proceeds from the offering, before deducting underwriting discounts and commissions and other offering expenses…

    SAN DIEGO, March 16, 2021 /PRNewswire/ -- Prometheus Biosciences, Inc. (NASDAQ:RXDX), a biotechnology company pioneering a precision medicine approach for the discovery, development, and commercialization of novel therapeutic and companion diagnostic products for the treatment of inflammatory bowel disease (IBD), today announced the closing of its initial public offering of 11,500,000 shares of common stock, which includes the exercise in full by the underwriters of their option to purchase 1,500,000 additional shares, at a public offering price of $19.00 per share. All of the shares were offered by Prometheus. The aggregate gross proceeds from the offering, before deducting underwriting discounts and commissions and other offering expenses payable by Prometheus, were $218.5 million. Prometheus' common stock is listed on the Nasdaq Global Select Market under the ticker symbol "RXDX".

    SVB Leerink, Credit Suisse, Stifel and Guggenheim Securities acted as joint bookrunning managers for the offering.

    Registration statements relating to the offering have been filed with the Securities and Exchange Commission (SEC) and became effective on March 11, 2021. A prospectus relating to and describing the terms of the offering has been filed with the SEC and is available on the SEC's website at www.sec.gov. The offering was made only by means of a prospectus. Copies of the final prospectus may be obtained from SVB Leerink LLC, Attention: Syndicate Department, One Federal Street, 37th Floor, Boston, MA 02110, or by telephone at (800) 808-7525, ext. 6105, or by email at syndicate@svbleerink.com; or from Credit Suisse Securities (USA) LLC, Attention: Prospectus Department, 6933 Louis Stephens Drive, Morrisville, NC 27560, or by telephone at (800) 221-1037, or by email at usa.prospectus@credit-suisse.com; or from Stifel, Nicolaus & Company, Incorporated, One Montgomery Street, Suite 3700, San Francisco, California 94104, Attn: Syndicate, or by phone at (415) 364-2720 or by email at syndprospectus@stifel.com; or from Guggenheim Securities LLC, Attention: Equity Syndicate Department, 330 Madison Avenue, New York, NY 10017, by telephone at (212) 518-5548 or by email at GSEquityProspectusDelivery@guggenheimpartners.com.

    This press release shall not constitute an offer to sell or a solicitation of an offer to buy these securities, nor shall there be any offer or sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or jurisdiction.

    About Prometheus Biosciences

    Prometheus Biosciences, Inc. is a biotechnology company pioneering a precision medicine approach for the discovery, development, and commercialization of novel therapeutic and companion diagnostic products for the treatment and diagnosis of IBD. The company's precision medicine platform, Prometheus360, combines proprietary bioinformatics discovery methods with one of the world's largest gastrointestinal bioinformatics databases to identify novel therapeutic targets and develop therapeutic candidates to engage those targets. 

    Prometheus is headquartered in San Diego, CA. 

     

    Cision View original content:http://www.prnewswire.com/news-releases/prometheus-biosciences-announces-closing-of-initial-public-offering-and-full-exercise-of-underwriters-option-to-purchase-additional-shares-301248704.html

    SOURCE Prometheus Biosciences

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  13. SAN DIEGO, March 11, 2021 /PRNewswire/ -- Prometheus Biosciences, Inc. (NASDAQ:RXDX), a biotechnology company pioneering a precision medicine approach for the discovery, development, and commercialization of novel therapeutic and companion diagnostic products for the treatment of inflammatory bowel disease (IBD), today announced the pricing of its upsized initial public offering of 10,000,000 shares of common stock at a public offering price of $19.00 per share. All of the shares are being offered by Prometheus. The shares are expected to begin trading on the Nasdaq Global Select Market on March 12, 2021 under the ticker symbol "RXDX". The gross proceeds from the offering, before deducting underwriting discounts and commissions and other offering…

    SAN DIEGO, March 11, 2021 /PRNewswire/ -- Prometheus Biosciences, Inc. (NASDAQ:RXDX), a biotechnology company pioneering a precision medicine approach for the discovery, development, and commercialization of novel therapeutic and companion diagnostic products for the treatment of inflammatory bowel disease (IBD), today announced the pricing of its upsized initial public offering of 10,000,000 shares of common stock at a public offering price of $19.00 per share. All of the shares are being offered by Prometheus. The shares are expected to begin trading on the Nasdaq Global Select Market on March 12, 2021 under the ticker symbol "RXDX". The gross proceeds from the offering, before deducting underwriting discounts and commissions and other offering expenses payable by Prometheus, are expected to be $190 million. The offering is expected to close on March 16, 2021, subject to satisfaction of customary closing conditions. In addition, Prometheus has granted the underwriters a 30-day option to purchase up to an additional 1,500,000 shares of common stock at the initial public offering price, less underwriting discounts and commissions.

    SVB Leerink, Credit Suisse, Stifel and Guggenheim Securities are acting as joint bookrunning managers for the offering.

    Registration statements relating to the offering have been filed with the Securities and Exchange Commission and became effective on March 11, 2021. The offering will be made only by means of a prospectus. When available, copies of the prospectus may be obtained from SVB Leerink LLC, Attention: Syndicate Department, One Federal Street, 37th Floor, Boston, MA 02110, or by telephone at (800) 808-7525, ext. 6105, or by email at syndicate@svbleerink.com; or from Credit Suisse Securities (USA) LLC, Attention: Prospectus Department, 6933 Louis Stephens Drive, Morrisville, NC 27560, or by telephone at (800) 221-1037, or by email at usa.prospectus@credit-suisse.com; or from Stifel, Nicolaus & Company, Incorporated, One Montgomery Street, Suite 3700, San Francisco, California 94104, Attn: Syndicate, or by phone at (415) 364-2720 or by email at syndprospectus@stifel.com; or from Guggenheim Securities LLC, Attention: Equity Syndicate Department, 330 Madison Avenue, New York, NY 10017, by telephone at (212) 518-5548 or by email at GSEquityProspectusDelivery@guggenheimpartners.com.

    This press release shall not constitute an offer to sell or a solicitation of an offer to buy these securities, nor shall there be any offer or sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or jurisdiction.

    About Prometheus Biosciences

    Prometheus Biosciences, Inc. is a biotechnology company pioneering a precision medicine approach for the discovery, development, and commercialization of novel therapeutic and companion diagnostic products for the treatment and diagnosis of IBD. The company's precision medicine platform, Prometheus360, combines proprietary bioinformatics discovery methods with one of the world's largest gastrointestinal bioinformatics databases to identify novel therapeutic targets and develop therapeutic candidates to engage those targets. 

    Prometheus is headquartered in San Diego, CA. 

    Cision View original content to download multimedia:http://www.prnewswire.com/news-releases/prometheus-biosciences-announces-upsized-pricing-of-initial-public-offering-301246163.html

    SOURCE Prometheus Biosciences

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