The Bill & Melinda Gates Foundation has granted .9 million to Aridis Pharmaceuticals Inc (NASDAQ: ARDS) to evaluate Aridis' inhaled monoclonal antibodies (mAbs) against influenza and COVID-19 for low- and middle-income countries.

• The mAbs will be manufactured using a spirulina-based platform technology developed by Lumen Bioscience.

• Lumen Bio's platform can produce therapeutic proteins at lower costs than conventional mammalian cell line technologies.

• Related: Aridis Stock Rallies After Positive Preclinical Data For COVID-19 Antibody Against Omicron.

• Aridis' formulation technology enables self-administration of prophylactic and therapeutic antibodies directly to the upper or lower airways of the respiratory tract.

• Local delivery substantially of therapeutics reduces the dose required to achieve a therapeutic effect (over 100-fold compared to intravenous or intramuscular injections).

• Aridis' formulation technology has demonstrated the ability to stabilize mAbs at room temperature and packaged in a compact powder capsule for delivery from disposable dry powder inhalers.

• It also funds animal safety and efficacy testing in virus challenge animal models.

• Pending the outcome of preliminary results, the Gates Foundation has the option to continue funding through preclinical IND enabling activities and through Phase 1/2a human trial.

• Price Action: ARDS shares up 27% at $2.21 during the premarket session on the last check Thursday.

See more from Benzinga

• Vertex Pharmaceuticals Clocks 27% Growth In Product Revenues, Issues FY22 Guidance

• Cue Pharma Posts Two Responses From CUE-101 Combo In Head & Neck Cancer

© 2022 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.