Athira Pharma Explained

Athira Pharma Inc.
Traded As:NASDAQ:
Industry:Biotechnology, Pharmaceuticals
Founded:2011
Hq Location City:Seattle
Hq Location Country:United States
Products:ATH-1017

Athira Pharma is a late clinical stage American biopharmaceutical company developing small molecules to restore neuronal health and stop the neurodegeneration brought on by diseases such as Alzheimer's disease and Parkinson's disease. The company's lead candidate, ATH-1017, is in human studies for Alzheimer's disease as of 2021.[1]

The company was founded in 2011 and is headquartered in Seattle. Funding that supports the company is from both public and private investment groups including the Alzheimer's Drug Discovery Foundation, Dolby Family Ventures, the State of Washington's Life Sciences Discovery Fund, The W Fund, WRF Capital, and other private investors.[2] [3] [4]

Leen Kawas served as the company's first President and CEO,[5] but resigned in October 2021,[6] after an independent special committee found she "altered images in scientific papers she authored."[7] On October 21, 2021, Mark Litton, Ph.D., M.B.A. became Chief Executive Officer.

History

The company has received financial support from venture capitalist groups and angel investors through four rounds of funding to date. [8] Athira Pharma was known as M3 Biotechnology until it underwent a name change on April 11, 2019.[9] [10]

Core technology

The company's lead asset, ATH-1017, is in human trials of Alzheimer's disease as of 2021.[11] ATH-1017 is a small molecule therapeutic specifically designed to enhance the activity of Hepatocyte Growth Factor (HGF) and its receptor, MET, which are expressed in normal central nervous system function.[12] It aims to regenerate lost connections in the brain, protect brain cells from further damage, and prevent additional neuronal deterioration. [13] ATH-1017 is currently being tested in two clinical studies: ACT-AD and LIFT-AD.[14]

Notes and References

  1. Web site: 2021-08-16. Athira Pharma Reports Second Quarter 2021 Financial Results and Business Update. 2021-10-20. Athira Pharma. en-US.
  2. Web site: ADDF Funding Advances M3 Biotechnology Toward Clinical Trials Alzheimer's Drug Discovery Foundation. www.alzdiscovery.org. en. 2018-10-15.
  3. Web site: First Trial of Alzheimer's Drug Underway Science and Enterprise. sciencebusiness.technewslit.com. 17 October 2017 . en-US. 2018-10-15.
  4. Web site: Individual Grants Life Sciences Discovery Fund. www.lsdfa.org. en. 2018-07-31.
  5. News: Entrepreneurship has grown on M3 Biotechnology's CEO. 2017-04-30. The Seattle Times. 2018-07-31. en-US.
  6. Web site: October 21, 2021 . Athira Pharma Announces Leadership Changes; Mark Litton, Ph.D., M.B.A. Named President and Chief Executive Officer; Rachel Lenington, M.B.A. Named Chief Operating Officer . July 10, 2022 . Athira Pharma - Company Press Releases.
  7. Web site: Soper . Taylor . October 21, 2021 . Ex-Athira Pharma CEO Leen Kawas resigns and leaves board after image manipulation investigation . https://web.archive.org/web/20211021235252/https://www.geekwire.com/2021/ex-athira-pharma-ceo-leen-kawas-resigns-leaves-board-image-manipulation-investigation/ . October 21, 2021 . July 10, 2022 . GeekWire.
  8. Web site: M3 Biotechnology Company Profile: Valuation & Investors PitchBook. pitchbook.com. en. 2018-10-15.
  9. M3 Biotechnology Announces Name Change to Athira Pharma, Inc.. Inc. Athira Pharma. www.prnewswire.com. en. 2019-04-15.
  10. Web site: Alzheimer's-focused M3 Biotechnology rebrands as Athira Pharma. 2021-10-20. FierceBiotech. en.
  11. Web site: Delgado. Diana Campelo. Dosing Starts in Phase 2/3 Trial of Athira's ATH-1017 for Alzheimer's. 12 October 2020 . 2021-08-30. en-US.
  12. Web site: Our Approach. 2021-10-20. Athira Pharma. en-US.
  13. News: M3 Biotechnology Launches Clinical Trials for Alzheimer's Disease Drug Focused on Restoring Lost Connections in the Brain. 2018-10-15. en.
  14. Athira Pharma. 2021-08-24. A Randomized, Placebo-Controlled, Translational Study of ATH-1017 in Subjects With Mild to Moderate Alzheimer's Disease.

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