Shares of Lakewood-Amedex Biotherapeutics Inc. (NASDAQ:LABT) surged about 20% on Friday after the company began trading on the Nasdaq Capital Market under the ticker “LABT”.
The move marks the clinical-stage biotech’s transition to public markets as it advances development of its antimicrobial platform.
Focus on Novel Antimicrobial Class
Lakewood-Amedex is developing its proprietary Bisphosphocin class of antimicrobials, aimed at treating infectious diseases, including those involving drug-resistant bacteria.
Doug Manion said the Nasdaq listing represents a significant milestone that will help accelerate development of its pipeline, including lead candidate Nu-3 for diabetic foot infections.
Advancing Lead Drug Candidate
Chief executive Kelvin Cooper said the company plans to launch a Phase 2a clinical trial for infected diabetic foot ulcers in the near term.
He highlighted the scale of the opportunity, noting that nearly 40 million people in the U.S. live with diabetes, and about one-third will develop a diabetic foot ulcer, with roughly half of those cases becoming infected.
Nu-3 is being developed as a topical treatment for mildly infected diabetic foot ulcers and is designed to rapidly eliminate a broad range of bacteria, including resistant strains and biofilms.
Encouraging Early Data
The company said early exploratory trials using subclinical doses of Nu-3 showed no safety concerns and indicated signs of antimicrobial activity alongside improved wound healing.
Based on these findings, Lakewood-Amedex plans to proceed with a Phase 2a safety and dose-ranging study, followed by a placebo-controlled Phase 2b trial to further evaluate efficacy.