Matinas BioPharma Holdings, Inc. Common Stock Commences Trading on OTCBB Under Ticker Symbol MTNB
BEDMINSTER, NJ -- (Marketwired) -- 07/22/14 -- Matinas BioPharma Holdings, Inc. ("Matinas BioPharma" or the "Company") (OTCBB: MTNB), an emerging biopharmaceutical company focused on the development and commercialization of omega-3 fatty acid-based prescription therapeutics for the treatment of cardiovascular and metabolic conditions, announced today that its shares of common stock have initiated trading via the Over-the-Counter Bulletin Board (OTCBB) under the ticker symbol "MTNB."
Herbert Conrad, Chairman of the Board, remarked, "All of us at Matinas BioPharma are very excited to initiate trading of our common stock on the OTCBB. We believe this offers the Company greater exposure to the investment community and opportunities to continue to build shareholder value."
Roelof Rongen, President and Chief Executive Officer of Matinas BioPharma noted, "We look forward to continuing to build momentum as we benefit from the progress of executing on our business plan. Matinas BioPharma's move to the OTCBB is just one of many such steps forward for Matinas BioPharma in 2014 and beyond. Our number one priority is the solid execution of our clinical development strategy and advancing our lead product candidate, MAT9001, into Phase 3 clinical studies as soon as possible, which we believe will build significant value for our shareholders in the near and long-term."
The trading of Matinas BioPharma's common stock via the OTCBB represents an important milestone and objective following the successful closing of its $15.0 million private placement financing, which was concluded in August 2013.
MAT9001 is a proprietary prescription-only omega-3 fatty acid-based composition, comprised of a complex mixture of omega-3 fatty acids which is under development for therapeutic applications, with severe hypertriglyceridemia (TG>500 mg/dL) as the lead indication. Based on promising early data, the Company is preparing to file an Investigational New Drug Application (IND) with the U.S. Food and Drug Administration (FDA) and initiate its first human study in the third quarter of 2014. The Company believes that its development program and related clinical investigations may yield an improved therapeutic profile compared to existing therapies, based on MAT9001's differentiating mechanistic features associated with its unique composition.
About Matinas BioPharma
Matinas BioPharma is a development stage biopharmaceutical company, founded in 2011, with a focus on identifying and developing novel pharmaceutical products for the treatment of abnormalities in blood lipids, referred to as dyslipidemia, and the treatment of cardiovascular and metabolic diseases. Led by an experienced and highly successful management team and a board of directors with a history of building highly successful pharmaceutical companies, Matinas is focused on creating the next generation of omega-3-fatty-acid-based pharmaceutical products. Our lead product, MAT9001, which takes advantage of advancements in the field of lipidomics, has been specifically designed and formulated for therapeutic applications in the dyslipidemia field. For more information, please visit www.matinasbiopharma.com.
Forward Looking Statements: This release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, including those relating to the Company's product development, clinical and regulatory timelines, market opportunity, cash flow and other statements that are predictive in nature, that depend upon or refer to future events or conditions. All statements other than statements of historical fact are statements that could be forward-looking statements. Forward-looking statements include words such as "expects," "anticipates," "intends," "plans," "could", "believes," "estimates" and similar expressions. These statements involve known and unknown risks, uncertainties and other factors which may cause actual results to be materially different from any future results expressed or implied by the forward-looking statements. Forward-looking statements are subject to a number of risks and uncertainties, including, but not limited to, our ability to successfully complete research and further development and commercialization of MAT9001; our ability to obtain additional capital to meet our liquidity needs on acceptable terms, or at all, including the additional capital which will be necessary to complete the clinical trials for MAT9001; the uncertainties inherent in clinical testing; the timing, cost and uncertainty of obtaining regulatory approvals; our ability to protect the Company's intellectual property; the loss of any executive officers or key personnel or consultants; competition; changes in the regulatory landscape or the imposition of regulations that affect the Company's products; and the other factors listed under "Risk Factors" in our filings with the SEC, including Forms 10-K, 10-Q and 8-K. Prospective investors are cautioned not to place undue reliance on such forward-looking statements, which speak only as of the date of this release. Except as may be required by law, the Company does not undertake any obligation to release publicly any revisions to such forward-looking statement to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events. Matinas BioPharma's lead product candidate MAT9001 is in a development stage and is not available for sale or use.
Investor and Media Contact
Investor Relations and Corporate Communications Advisor
Jenene Thomas Communications, LLC
Phone: (908) 938-1475
Source: Matinas BioPharma Holdings, Inc.
Released July 22, 2014