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Landos Biopharma Reports Second Quarter 2022 Results and Provides Business Update

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Positive Top-Line Results From NX-13 Phase 1b Trial in Ulcerative Colitis Demonstrate a Favorable Safety and Tolerability Profile Across Range of Once-Daily Oral Doses, as well as Promising Early Efficacy Signals

Phase 2 Proof of Concept Clinical Trial for NX-13 in Ulcerative Colitis Planned

On Track to Complete Comprehensive Review of Clinical Development Plans Later this Year

NEW YORK, Aug. 11, 2022 (GLOBE NEWSWIRE) — Landos Biopharma, Inc. (NASDAQ: LABP), a clinical-stage biopharmaceutical company developing novel, oral medicines for patients with autoimmune diseases, today announced financial results for the second quarter ended June 30, 2022, and provided a business update.

“Landos continues to make progress advancing our clinical-stage programs – omilancor, NX-13 and LABP-104 – and positioning the Company for the future,” said Gregory Oakes, President and CEO of Landos. “We announced positive top-line results from our NX-13 Phase 1b trial, which showed a favorable safety and tolerability profile in ulcerative colitis (UC) patients across a range of doses, as well as promising early efficacy signals. The results support our belief that NX-13 has the potential to be an important new oral, once-daily treatment for UC. These positive results also highlight our sharpened strategic focus on pursuing what we believe are the most promising molecules and target indications.”

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“As we finalize our comprehensive review of the Company’s clinical development plans, Landos is well positioned to advance our clinical stage assets and deliver on our mission of addressing the therapeutic gap for patients with autoimmune diseases. We look forward to providing a comprehensive update on our pipeline later this year,” continued Mr. Oakes.

Clinical Development Updates

Omilancor
Omilancor is a novel, oral, gut-restricted LANCL2 agonist in development for the treatment of UC as a once-daily oral treatment.

  • Landos continues to optimize drug product formulation, including a dose selection assessment. The Company expects to announce both the timing and next steps in the development of omilancor later this year.

NX-13
NX-13 is a novel, oral, gut-restricted NLRX1 agonist in development for the treatment of UC as a once-daily oral treatment.

  • The Company recently announced top-line results from its Phase 1b trial in UC patients. The data showed favorable safety and tolerability across a range of doses, as well as signals of clinical improvement as soon as two weeks in patients’ symptoms and four weeks by endoscopy in exploratory endpoints.
  • The Company provided additional information regarding results of the NX-13 Phase 1b trial in a supplemental presentation posted on the Company’s investor relations website.
  • Landos plans to initiate a Phase 2 proof of concept clinical trial of NX-13 in UC patients to evaluate the safety, efficacy, and optimal dosing.

LABP-104
LABP-104 is a novel, oral, systemically distributed LANCL2 agonist in development for the treatment of systemic lupus erythematosus (SLE) and/or rheumatoid arthritis (RA) as a once-daily oral treatment.

  • Landos conducted a Phase 1a trial of LABP-104 in healthy volunteers and expects topline results to be reported later this year. The Company expects to announce both the timing and next steps in the development of LABP-104 later this year.

Summary of Second Quarter 2022 Results

Cash, Cash Equivalents and Marketable Securities:
As of June 30, 2022, the Company had cash, cash equivalents and marketable securities of $55.8 million, which it believes will be sufficient to fund its planned operations for at least the next 12 months. Upon completion of its portfolio prioritization review later this year, the Company will provide further details into its operating plans and capital resources.

Research and Development Expenses:
Research and development expenses were $6.6 million for the second quarter of 2022, compared to $11.5 million in the second quarter of 2021. The decrease was primarily attributed to a reduction in contract research and clinical data management costs following the planned termination of further enrollment in two clinical trials of omilancor for the treatment of Crohn’s Disease. This was partially offset by an increase in consulting and temporary labor costs for the three months ended June 30, 2022.

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General and Administrative Expenses:
General and administrative expenses were $4.7 million for the second quarter of 2022, compared to $2.6 million in the second quarter of 2021. The increase was primarily attributable to increases in employee-related expenses, including stock-based compensation, as well as an increase in recruiting and legal fees.

About Landos Biopharma
Landos Biopharma is a clinical-stage biopharmaceutical company focused on the discovery and development of oral therapeutics for patients with autoimmune diseases. We believe we were the first to identify and target LANCL2, NLRX1 and PLXDC2, which are immunometabolic pathways or targets. We have identified seven novel immunometabolic pathways or targets based on predictions of immunometabolic function using a proprietary advanced artificial intelligence-based integrated computational and experimental precision medicine platform. Our near-term focus is on our clinical-stage programs including omilancor for the treatment of UC, NX-13 for the treatment of UC, and LABP-104 for the potential treatment of systemic lupus erythematosus and rheumatoid arthritis.

For more information, please visit www.landosbiopharma.com.

Cautionary note on Forward-Looking Statements
Statements in this press release about future expectations, plans and prospects for Landos Biopharma, Inc. (the “Company”), including statements about the Company’s strategy, clinical development and regulatory plans for its product candidates, including omilancor, NX-13 and LABP-104, and other statements containing the words “anticipate”, “plan”, “expect”, “may”, “will”, “could”, “believe”, “look forward”, “potential”, the negatives thereof, variations thereon and similar expressions, or any discussions of strategy constitute forward-looking statements. Actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors, including: the uncertainties inherent in the initiation and enrollment of future clinical trials, expectations of expanding ongoing clinical trials, availability and timing of data from ongoing clinical trials, expectations for regulatory approvals, other matters that could affect the availability or commercial potential of the Company’s product candidates and other similar risks. Risks regarding the Company’s business are described in detail in its Securities and Exchange Commission (“SEC”) filings, including in its Annual Reports on Form 10-K and Quarterly Reports on Form 10-Q, which are available on the SEC’s website at www.sec.gov. Additional information will be made available in other filings that the Company makes from time to time with the SEC. Such risks may be amplified by the impacts of the COVID-19 pandemic. In addition, the forward-looking statements included in this press release represent the Company’s views only as of the date hereof. The Company anticipates that subsequent events and developments will cause the Company’s views to change. However, while the Company may elect to update these forward-looking statements at some point in the future, the Company specifically disclaims any obligation to do so, except as may be required by law. These forward-looking statements should not be relied upon as representing the Company’s views as of any date subsequent to the date hereof.

Contacts

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Tanner Kaufman / Kara Sperry
Joele Frank, Wilkinson Brimmer Katcher
212-355-4449

Landos Biopharma, Inc. Unaudited Condensed Consolidated Statements of Operations (in thousands, except share and per share amounts)

         
  Three Months Ended
June 30,
Six Months Ended
June 30,
    2022     2021   2022     2021  
Revenue – license fee:   $—   $18,000   $—   $18,000  
Operating expenses:        
Research and development $6,604   $11,522 $17,404   $18,776  
General and administrative   4,662     2,596   8,815     5,241  
Total operating expenses   11,266     14,118   26,219     24,017  
(Loss) income from operations   (11,266)     3,882   (26,219)     (6,017)  
Other (loss) income, net   (18)     215   71     296  
Net (loss) income $(11,284)   $4,097 $(26,148)   $(5,721)  
Net (loss) income per share, basic and diluted $(0.28)   $0.12 $(0.65)   $(0.19)  
Weighted-average shares used to compute net (loss) income per share, basic   40,254,890     33,639,481   40,254,890     29,875,877  
Weighted-average shares used to compute net (loss) income per share, diluted   40,254,890     34,384,784   40,254,890     29,875,877  
                       

Landos Biopharma, Inc. Condensed Consolidated Balance Sheets (in thousands)

  June 30,   December 31,
    2022       2021  
  (Unaudited)    
Assets      
Current assets:      
Cash and cash equivalents $19,241     $8,305  
Marketable securities, available-for-sale   36,510       82,575  
Prepaid expenses and other current assets   2,287       1,266  
Total current assets   58,038       92,146  
Property and equipment, net         707  
Other assets         26  
Total assets $58,038     $92,879  
       
Liabilities and Stockholders’ Equity      
Current liabilities:      
Accounts payable $4,711     $12,908  
Accrued liabilities   1,799       3,703  
Total current liabilities   6,510       16,611  
Total liabilities   6,510       16,611  
Commitments and contingencies      
Stockholders’ equity:      
Common stock   403       403  
Additional paid-in capital   171,816       170,241  
Accumulated other comprehensive loss   (392)       (225)  
Accumulated deficit   (120,299)       (94,151)  
Total stockholders’ equity   51,528       76,268  
Total liabilities and stockholders’ equity $58,038     $92,879  
               

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Sinch Honored with Frost & Sullivan’s Enlightened Growth Leadership Award

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Recognized for Commitment to Making the World a Better Place Through Innovative Growth, Customer Value, and Sustainable Business Practices
STOCKHOLM, Oct. 7, 2024 /PRNewswire/ — Sinch (Sinch AB (publ) – (XSTO: SINCH), which is pioneering the way the world communicates through its Customer Communications Cloud, is pleased to announce that it has been awarded the Enlightened Growth Leadership Best Practices Recognition by the Frost & Sullivan Institute. This prestigious award celebrates Sinch as a Company of Action, for demonstrating best practices in its growth journey, while aligning with Frost and Sullivan’s “innovation to zero” initiative, which focuses on addressing global challenges through sustainable and responsible business practices.

In addition to its sustainability efforts, Sinch was recognized for its technology leadership, leveraging innovations like its cloud-based infrastructure for scalability and cost efficiency, and its API-first approach for rapid integration and customization. AI capabilities are embedded across Sinch’s entire portfolio, enhancing customer experience and operational efficiency, further solidifying its position as a leader in communication technology. The award acknowledges companies that drive significant economic impact and drive transformation, with Sinch advancing toward a future where environmental responsibility and business success are seamlessly aligned.
Sinch was specifically recognized for its dedication to the Science Based Targets initiative aimed at meeting the Paris Agreement’s 1.5°C goal. The company proactively assesses the environmental impact of its products and emphasizes responsible business practices that minimize waste and pollution.
“We are honored to be recognized for our commitment to sustainable growth, innovation, and our dedication to our employees, partners and customers,” shared Jonathan Bean, Chief Marketing Officer at Sinch. “This award reflects our focus on enhancing the customer experience by fostering a culture of responsibility, excellence, and forward-thinking. It also serves as a reminder of our ongoing commitment to reducing our environmental impact, fostering inclusive workplaces, and upholding the highest standards of ethical business practices with our customers and partners,” added Bean.
Sinch believes in the power of communication as a force for good and recognizes its responsibility to lead by example, especially as it powers billions of engagements each year. The company’s Environmental, Social, and Governance (ESG) initiatives are closely aligned with its core values, ensuring that its innovations and strategies not only connect people but also contribute to a sustainable and equitable future.
For further information, please contact:  Janet Lennon, Director of Global Communications [email protected]
This information was brought to you by Cision http://news.cision.com
 

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LG Innotek Becomes Industry’s First to Use AI to Prevent Input of Defective Raw Materials in Production

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Achieved early detection of cause of defects in raw materials through AI, becoming “first to overcome this challenge in the industry”Applied to high-value semiconductor substrates, analyzing raw material defects in only one minuteReduces defect analysis time by up to 90%SEOUL, South Korea, Oct. 7, 2024 /PRNewswire/ — Today, LG Innotek (CEO Moon Hyuksoo) announced the development and application of the industry’s first “Artificial Intelligence (AI)-based inspection system for incoming raw materials”, designed to detect defects at the point of receipt and prevent the use of substandard raw materials in the process.

LG Innotek applied its AI-based inspection technology, developed by combining material information and AI image processing technologies, to the RF-SiP (Radio Frequency System-in-Package) process. Recently, the technology was also introduced for the FC-BGA (Flip Chip Ball Grid Array), and is expected to further enhance the competitiveness and quality of LG Innotek’s high-value semiconductor substrate products.
Previously, incoming raw materials underwent only a visual inspection before entering the production process. However, the continued advancement of semiconductor substrate technology changed this. Even after improving all in-process defect causes, failures in reliability evaluations continued to rise. This led the quality of incoming materials to gain attention as a decisive factor affecting reliability evaluations. 
The core raw materials (i.e. Prepreg (PPG), Ajinomoto Build-up Film (ABF), and Copper-Clad Laminate (CCL)) that comprise semiconductor substrates arrive as a mixture of glass fibers, inorganic compounds, and other components. In the past, air voids (gaps between particles) or foreign particles generated during the material mixing process did not significantly impact product performance. However, as substrate specifications, such as circuit spacing, have become increasingly stringent, the presence of air voids and foreign particles, depending on their size, has started to cause defects.
As a result, it is virtually impossible to identify which part of the raw material is responsible for the defect using traditional visual inspection methods, which has become a significant challenge for the industry.
If we were to compare one lot of raw materials mixture (unit of raw materials with the same characteristics that goes into the production process) to a batch of cookie dough, it is impossible for the eye to perceive the concentration of salt or sugar in a certain portion, the number of air holes in the dough, or the number of foreign particles.
LG Innotek has found a way to overcome this industry challenge with AI. Its “AI-based Inspection System for Incoming Raw Materials” has been trained with tens of thousands of pieces of data on the composition of materials that are either suitable or unsuitable for a product. Based on this, it analyzes the components and defective areas of semiconductor substrate raw materials in only one minute, with an accuracy rate of over 90%, and visualizes quality deviations in each lot of raw materials.
By using AI machine learning to visualize, quantify, and standardize material configurations optimized for quality, LG Innotek has been able to prevent defective raw materials from entering the production process. The company can change the material design based on the quality deviation information visualized by the AI system, allowing it to ensure that the quality of the raw materials lot is uniform at a suitable level before entering the process.
An LG Innotek official commented, “With the “AI-based Inspection System for Incoming Raw Materials”, the time required to analyze defects has been decreased by up to 90%, and the cost of resolving the causes of defects has been significantly reduced.”
LG Innotek plans to enhance the AI system’s detection capabilities by sharing raw materials-related data with customers and suppliers in the substrate sector through digital partnerships.
Additionally, the company aims to expand the system’s application to optical solutions, such as camera modules, where the image-based detection of material defects can play a crucial role.
LG Innotek CTO S.David Roh said, “With the “AI-based inspection system”, we will complete LG Innotek’s unique AI ecosystem, which delivers exceptional customer value by identifying causes of product defects early in the production process.” He added, “We will continue innovating in digital production technology to create top-quality products at the lowest cost and in the shortest time.”
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CogX Unveils Innovative Knowledge Networking Platform, Proxxi AI, at the CogX Leadership Summit

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New platform uses pioneering “Expert-in-the-Loop” model that matches questions from users with the best specialists to answer them – all assisted by state-of-the-art AI
LONDON, Oct. 7, 2024 /PRNewswire/ — CogX Group Ltd, the tech community and online platforms group, which brings together the sector’s leaders and innovators from across the world, will showcase today its new knowledge networking platform, Proxxi AI, an “expert-in-the-loop” model that connects users and specialists to provide bespoke answers to their questions, assisted by state-of-the art AI.

Proxxi AI will be unveiled later at CogX’s London Leadership Summit at the historic Royal Albert Hall. Proxxi AI understands user questions, identifies the best available experts, assists them with answers based on their own trained “proxxi”, and features a broad range of subjects to deliver the best of AI, but with human oversight.
The live stream of the Summit will be available on YouTube from 10 am here.
Proxxi AI aims to play a leading role within a global knowledge management marketplace projected to grow beyond $1 trillion by 2026 (MarketsandMarkets), with organisations seeking faster, reliable, and lower-cost ways to access expertise and stay ahead of the curve.
Employing the latest large language models (LLMs), Proxxi AI will continuously learn and improve each expert’s proxxi and ranking. The platform will initially be accessed via Slack, Teams, and the CogX Insights app. Shortly after it will be available via API for web and mobile app developers. It supports a broad range of use cases for startups and enterprises, governments, universities and research institutions.
CogX will be demonstrating Proxxi AI at today’s Leadership Summit throughout the day.
Also announced today is the organisation of CogX’s businesses — CogX Ltd (UK Events and the CogX Insights app) and Proxxi AI (Knowledge Network)— under CogX Group Ltd  enabling the community to connect both in-person at our events, and through its two online platforms.
Charlie Muirhead, Founder and CEO of CogX, said:
“CogX’s mission is to convene our community to address the question: How do we get the next 10 years right?  To do so, we need to connect the right people to the right expertise, just when they need it.
So we’re hugely excited to be sharing Proxxi AI today at the Leadership Summit, which will instantly connect people to subject specialists through Slack and Teams our own CogX Insights app, and shortly after via our API for web and mobile app developers.
By blending AI-driven insights with trusted expert oversight, we will empower organisations, large and small, to better navigate the rapid technological changes taking place and enhance their overall performance.”
Notes to editors
About CogX
Co-founded by Charlie Muirhead in 2017, CogX is a tech community and online platforms business that convenes inspirational events featuring leading voices from a huge range of sectors. The community brings together entrepreneurs, business leaders, academics, investors and policy makers both in-person, and online.
More about CogX Leadership Summit London
Taking place at the Royal Albert Hall – the historic venue that hosted the 1851 Great Exhibition, a showcase of the 1st Industrial Revolution – the CogX Summit will focus on the 4th Industrial Revolution, an era of technological convergence that will change the way we live and work.
The Summit is being held on Monday 7th October 2024, and will bring together over 100 world-class speakers, and host over 20 editorially curated salons and mixers to answer the central question: “How do we seize the AI opportunity?
Leaders from Google, OpenAI, Microsoft, NVIDIA, Meta, Hugging Face, Northern Data, Stanford University, and companies at the forefront of generative AI will join over 2,500 delegates to discuss how to apply AI safely and responsibly today and improve productivity and drive business growth.
The live stream of the Summit is available on YouTube from 10am here. (https://shorturl.at/lj3HP).
 
 

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