Peak Bio Co., Ltd. to List on NASDAQ Following Successful Business Combination with Ignyte Acquisition Corp.
Summary
Commencing at the open of trading on or about November 2, 2022, on NASDAQ, the Combined Companys common stock and public warrants will trade under the new trading symbols PKBO and PKBOW, respectively.We believe that Peak Bio is now well positioned to succeed in the public markets and look forward to updating the entire investment community on our progress in our differentiated approach in both oncology and rare inflammatory diseases, said Hoyoung Huh, M.D., Ph.D., Chairman and founder of Peak Bio.About Peak Bio Co., Ltd.Peak Bio Co., Ltd. is a clinical-stage biopharmaceutical company focused on developing therapeutics addressing significant unmet needs in the areas of oncology and inflammation. Peak Bios management team has a combined 50 years of industry experience in the areas of small molecules, antibodies, and antibody-drug-conjugates (ADC), forging successful companies that create differentiated cancer and immunological based therapeutics.Peak Bios lead product candidate, PHP-303, is a 5th generation, small molecule, neutrophil elastase inhibitor currently awaiting initiation of a Phase II clinical study in the genetic orphan disease called Alpha1 anti-trypsin deficiency disorder (AATD). Peak Bios current ADC approach unites conventional and direct targeting of cancer cells with toxins while also engaging the immune system. Peak Bios lead payload appears to be a poor substrate for multi-drug resistance (MDR) transporters which is a growing concern in the ADC field.This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements are based upon the current beliefs and expectations of our management and are inherently subject to significant business, economic and competitive uncertainties and contingencies, many of which are difficult to predict and generally beyond our control.
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