Benzinga | Feb 23, 2021 01:25PM EST

Akers Biosciences' Proposed Partner MyMD's Lead Candidate Inhibits Fibrotic Diseases-Associated Biomarkers

* Akers Biosciences Inc (NASDAQ: AKER) and its proposed merger partner MyMD Pharmaceuticals Inc have announced new data for MYMD-1 from the Eurofins Discovery Phenotypic Center of Excellence study.

* MYMD-1 is being evaluated for autoimmune and age-related diseases.

* The new findings indicate the potential of MYMD-1 to limit the fibrotic biology associated with idiopathic pulmonary fibrosis. MYMD-1 demonstrated inhibition of transforming growth factor-beta, a driver for fibrosis, and tumor necrosis factor, associated with inflammation.

* MyMD plans to move forward in testing combinations of MyMD-1 with approved fibrosis drugs.

* In November last year, Akers Biosciences and MyMD announced a merger agreement.

* Price Action: AKER is down 9.8% at $3.12 in market trading hours on the last check Tuesday.