Covistat, Biopharmaceutical Company Developing Low-Cost COVID-19 Treatment, Acquires IP From World Leader in Respiratory Disease Medicine

Technology,expertise from UK's Mucokinetica to accelerate repurposing of generic remedy nafamostat for COVID-19 oral,inhalation therapy

SAN DIEGO,Aug. 7,2020 --Abiopharmaceuticalcompanyrepurposingnafamostat,a generic remedy forpancreatitisand acute kidney injury,is one step closer to a treatment in its fight against COVID-19.Covistat,anEnsysceBiosciencessubsidiary,today announced its acquisition of Mucokinetica'stechnology and intellectual property,which will accelerate efforts to develop a low-cost treatment that helps the body's ability to block thecoronavirus—andits mutatingvariations—frominfiltrating our cells.

London-based Dr. Peter Cole and Dr. Rod Hall,founders ofMucokineticaLtd. andworld-leading experts in the development of medicines to treat respiratory diseases such as cystic fibrosis,are joining theCovistatteam.

Nafamostat,with its anticoagulant and anti-inflammatory properties,has for 30 years been safely used intravenously to treatpancreatitispatients.Nafamostatworks by affecting the body's own enzymes—notthe virus,which is capable of mutating to evade treatments.Nafamostatblocks TMPRSS2,the enzyme that enables SARS-CoV-2's spike proteins to gain entry into cells. Whether suffering from mild symptoms at home or acute respiratory failure in a hospital,nafamostat's therapyis expected to reduce the viral load in patients and prevent the progression of COVID-19.

Covistatis working torepurposethis proven generic drug into oral,intranasal and inhaled therapies for COVID-19 patients,including those in remote and developing regions of the world. Compared to intravenous treatments,oral drugs are often significantly less costly and highly accessible to more people in the U.S. and around the world. Oral medications also often are preferred for their stability—longershelf lives and easier transportation with little need for temperature-controlled storage typically limited to hospital settings.

Mucokineticais known for its decades of research,deep technical expertise and technology advancements ininhaled and intranasal administration ofnafamostat,which safely delivers the generic drug directly into the lungs of patients suffering from respiratory diseases.

"TheMucokineticateam has dedicated their lives to fighting devastating diseases. Together,we can formulate the safest,most accessible treatment to reduce progression of this powerful virus and help protect against COVID-19,as well as future strains and other seasonalcoronaviruses," Dr. Lynn Kirkpatrick,CovistatCEO,said.

MEDIA CONTACT: Drive West Communications,Covistat@DriveWest.com,281.220.6861 ext. 701