HTG to Highlight the Advantages of its Drug Discovery Engine at the 2023 BIO International Convention
TUCSON, Ariz., May 18, 2023 (GLOBE NEWSWIRE) -- HTG Molecular Diagnostics, Inc. (NASDAQ:HTGM) (HTG), a platform-based life science tools and drug discovery company, today announced that its management team will present the advantages of its proprietary drug discovery engine at the 2023 Biotechnology Innovation Organization (BIO) International Convention and will host in-person meetings during the remaining days of the June 5 – 8, 2023 event in Boston, MA.
HTG is pioneering a proprietary platform-based approach that is designed to help improve drug discovery, referred to as transcriptome-informed drug discovery and design. HTG's objective is to develop best-in-class molecules for the treatment of diseases, with the ability to apply its platform agnostically across therapy areas. At the center of this approach is HTG's proprietary RNA profiling technologies, functionally married with an advanced medicinal chemistry using a novel artificial intelligence (AI)-driven platform, allowing for the improved selection and design of molecules. The company's most advanced discovery programs are in oncology with an emphasis on the treatment of acute myeloid leukemia (AML), with the first molecules currently progressing through the remaining portion of lead optimization and expected to have sufficient data to support entry into preclinical development in the third quarter of 2023.
The company's Senior Vice President of Therapeutics, Stephen A. Barat, Ph.D., will present the benefits of the company's innovative approach to drug discovery as well as data from the company's lead molecules demonstrating the utility of the platform to attendees of the BIO International Convention on Tuesday, June 6, 2023 at 2:15 PM Eastern. Dr. Barat and HTG's Chief Executive Officer, John Lubniewski, will also be available for in-person meetings throughout the conference. Meetings with the company's management team to discuss opportunities to partner on existing portfolio molecules or to use HTG's platform to support potential partner company pipelines can be requested by conference participants through the BIO International Conference website.
"We have demonstrated that our innovative approach to drug discovery allows for the progression of molecules from target to drug candidate in approximately 12 months, with the added benefit of developing much deeper knowledge about the biological responses in diseased cells at earlier stages in discovery. Further, the data that our team has generated in these studies serve as a tangible demonstration of the power of the drug discovery engine we have built," said Dr. Barat. "I look forward to the opportunity to share the power of this drug discovery engine with potential partners and customers at the BIO International Convention and to continue to help others see how our technology can be used to make more well-informed selection choices earlier in the drug discovery process and improve the chances for success in development when compared to existing drug discovery and development approaches."
About HTG:
HTG is accelerating precision medicine from diagnosis to treatment by harnessing the power of transcriptome-wide profiling to drive translational research, novel therapeutics and clinical diagnostics across a variety of disease areas.
Building on more than a decade of pioneering innovation and partnerships with biopharma leaders and major academic institutes, HTG's proprietary RNA platform technologies are designed to make the development of life science tools and diagnostics more effective and efficient and to unlock a differentiated and disruptive approach to transformative drug discovery. For more information visit www.htgmolecular.com.
Forward-Looking Statements:
Statements contained in this press release regarding matters that are not historical facts are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, including statements regarding HTG's objectives and ability to develop best-in-class molecules; the ability of HTG's platform to enable improved selection and design of molecules; HTG's expectations to have sufficient data to support entry of its lead candidate molecules into development in the third quarter of 2023; HTG's ability to progress from target to drug candidate using its platform approach in approximately 12 months; HTG's expected pipeline advancement; and the capabilities of HTG's technology. Words such as "designed to," "believe," "anticipate," "expect," "potential," "will" and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements necessarily contain these identifying words. These forward-looking statements are based upon management's current expectations, are subject to known and unknown risks, and involve assumptions that may never materialize or may prove to be incorrect. Actual results and the timing of events could differ materially from those anticipated in such forward-looking statements as a result of various risks and uncertainties, including risks associated with drug discovery and development; the risk that our technologies may not provide the benefits that we expect; risks associated with our ability to develop and commercialize our products; risks associated with our ability to enter into licensing, partnering or other transactions for any candidates we discover or develop; the risk that our products and services may not be adopted by biopharmaceutical companies or other customers as anticipated, or at all; and risks related to our need for additional capital. These and other factors are described in greater detail in our filings with the Securities and Exchange Commission (SEC), including under the "Risk Factors" heading of our Quarterly Report on Form 10-Q for the quarter ended March 31, 2023, as filed with the Securities and Exchange Commission on May 10, 2023. All forward-looking statements contained in this press release speak only as of the date on which they were made, and we undertake no obligation to update such statements to reflect events that occur or circumstances that exist after the date on which they were made.
HTG Investor Contact:
Ashley Robinson
LifeSci Advisors
Phone: (617) 430-7577
Email: [email protected]
