Revelation Biosciences (Revelation), a clinical-stage life sciences company focused on the development of immunologic-based therapies for the prevention and treatment of disease, and Petra Acquisition, a special purpose acquisition company, announces they have entered into a definitive merger agreement for a business combination that will result in Revelation Biosciences becoming a publicly traded company.
An urgent need for prevention and treatment
In 2019, lower respiratory tract infections (LRTIs), including pneumonia and bronchiolitis, affected 489 million people globally. And, during the 2019-2020 season, the CDC estimates that influenza was associated with 38 million illnesses, 18 million medical visits, 405,000 hospitalizations, and 22,000 deaths.
The burden of respiratory infections on the healthcare system and economy is significant, with respiratory infections leading to more doctor visits and absences from school and work than any other illness. In addition, recent studies suggest a troubling increase in deaths from these viruses.
Beyond this, a recent study from Houston Methodist shows a rapid return of seasonal respiratory viruses after COVID-19 restrictions were relaxed in the state of Texas. In England, positive RSV samples among suspected cases in children have increased from 1.2% to 8.9%, which is of particular concern to local health leaders given the disease is most common during the winter months.
The pandemic brought on by COVID-19, with over 4.4 million deaths globally, has only heightened the need for easy-to-use, effective therapies that prevent the user from becoming infected, or activating the innate immune to combat early infections.
Product development experience across indications
As respiratory infections impact populations and economies around the world – including a global pandemic brought on by COVID-19 – Revelation Biosciences is developing innate immune system therapeutics and diagnostics for the identification, prevention and treatment of respiratory disease.
The company’s management and scientific teams bring extensive product development experience across multiple indications, spanning all stages of drug development, including 8 FDA and EMA approvals. The leadership team has a successful track record in multiple startups and turn-arounds including, 3 NASDAQ and 1 NYSE listings.
Currently, the company has several product candidates in development:
- REVTx‑99, the lead therapeutic candidate, is a broad anti-viral nasal drop solution that can be used to prevent or treat respiratory viral infections, including Influenza A, Influenza B, parainfluenza, rhinovirus, respiratory syncytial virus and SARS-CoV-2 including its variants. REVTx-99 works by boosting the body’s innate immune system, preventing the user from becoming infected or activating the innate immune system to combat early infections. REVTx-99 is also being developed for the treatment of chronic nasal congestion. Revelation plans to start a Phase 2 viral challenge study in the first quarter of 2022 and a phase 1 proof of concept study, which is intended to support the chronic nasal congestion program, in the fourth quarter of 2021.
- REVTx‑200 is an intranasal immunomodulator adjunct to be used in combination with an intramuscular vaccination for more complete immunity. REVTx‑200 is based on the same technology used in REVTx-99.
- REVDx‑501 is a rapid point-of-care diagnostic that can be used to detect various respiratory viral infections regardless of virus type without the need for specialized instrumentation. Revelation plans to start a Phase 2 viral challenge study in the first quarter of 2022 and a phase 1 proof of concept allergen challenge study in the 4th quarter of 2021
Management and investor comments
“We have all seen the crippling effects on lives and economies when a virus takes over,” said James Rolke, CEO of Revelation Biosciences. “We believe innovations like REVTx-99 will enable a return to normalcy, alleviating extreme concerns about exposure to severe respiratory infections like COVID and influenza. The unique mechanism of REVTx-99, which activates the innate immune system, has the potential to remove the exposure risks associated with travel, medical care and normal daily interactions in order to prevent – or fight early – infection. [Our merger with Petra Acquisitions will provide the capital needed to further our innovations and ensure they are widely available to transform the prevention and treatment landscape of viral respiratory diseases which lead to millions of deaths annually as well as immense healthcare and economic disruptions.”
“Revelation Biosciences represents an opportunity to dramatically reduce the impact and severity respiratory infections have on our lives,” said Andreas Typaldos, CEO and chairman of the board of Petra Acquisition “This transaction will provide James and the proven leadership team at Revelation the capital necessary to continue innovating in the world of innate immune system therapeutics and diagnostics, the first step towards a healthier future.”
For more information on Revelation, please visit RevBiosciences.com