Enochian Biosciences issues CEO letter to shareholders

Enochian Biosciences CEO issued a letter to shareholders. "I am pleased to be able to provide shareholders with a summary of recent advances and what we believe is a promising future for the Company. Proof-of-Concept Confirmed for Novel Cell-Gene-Immunotherapy for Pancreatic Cancer and, Potentially, Other Solid Tumors. Several key, independent studies performed by Dr. Anahid Jewett have shown remarkably promising results, demonstrating proof-of-concept. In two separate studies in humanized mice implanted with pancreatic cancer, the volume of the tumors was reduced by an average of 77 to 87 percent following only two injections of the product. The tumor weight was also highly statistically significantly reduced. There was also a statistically significant increase in key immunologic markers in mice potentially validating the hypothesized mechanism of action via a strong activation of the immune response by the potential product. Of note, the mice were evaluated only 3-4 weeks after treatment – it is possible the effect would have been even greater if the study were conducted for a longer time. As noted above, Dr. Jewett presented the key results as part of an invited plenary lecture at a scientific conference last week Accelerated Timeline for Pre-IND Submission, Toward Several Solid Tumors. Because of the strength of the data, we are accelerating the timeline for a Pre-IND submission to the US FDA, which is imminent… We are targeting submission of the IND application for early 2024 towards potentially starting clinical trials soon after that. Basic Platform and Product Design Leveraged for Other Pipelines Such as Infectious Diseases, Including HIV. The second proof-of-concept study was performed with what we believe will be the key product design components that we intend to advance towards clinical studies. Important features of that design provide the backbone of our overall approach to use cells from other persons, with or without gene-modification, to renew and stimulate a stronger immune response than the patient could without treatment… Private Placement and Non-Dilutive Opportunities. As of March 31, 2023, we raised approximately $2.5 million of additional funds through a private placement of restricted shares. The Chair of the Board, Rene Sindlev, led the round with $1 million, demonstrating his confidence in the Company… Conclusion: Turning the Page for a Promising Future While Working to Maximize Shareholder Value. Despite significant challenges that would have derailed many companies, our strategic plan to focus on our most promising platform has allowed us to significantly de-risk our cancer immune oncology program and be in a strong position now."