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Approximately 900,000 people annually in the United States suffer from damage to the articular cartilage and subchondral bone, with the knee being the most commonly affected. Articular cartilage lesions have a limited intrinsic ability to heal and often result in osteoarthritis (OA). Progression to OA poses significant economic burden for the United States, totaling over $300 billion annually, and negatively impacting 54.4 million adults (23% of the population). Current strategies for cartilage restoration include bone marrow stimulation (microfracture) and autologous chondrocyte implantation (ACI). These methods have high failure rates (25-50% at 10 years), prolonged rehabilitation times (> 12 months), and show decreasing efficacy in patients older than 40-50 years of age. 

Sparta Biomedical is developing the first-of-its kind osteochondral repair technology (SBM-01) for support the restoration of the cartilage-bone unit. This purpose-built technology is comprised of a novel biomimetic material possesses cartilage-like properties-- tension, compression, tribology, and fatigue.  The patent-pending surface is combined with a uniquely designed base to promote efficient osseous attachment and stable fixation over the long-term. Sparta’s technology will be a significant advancement in the current surgical standard of care. It will result in substantial pain reduction, immediate weight bearing post-operatively, and full range ambulation.

Sparta has assembled a nationally recognized team of scientists, clinicians, orthopedic regulatory experts to develop SBM-01 rapidly and cost effectively. SBM-01's risk profile enables an efficient regulatory path. Furthermore, it is well positioned to obtain Breakthrough Device Designation from the US FDA.

Summary / Data Stingray Therapeutics: Novel Innate Immunity Target - Ectonucleotide Pyrophosphatase / Phosphodiesterase 1 (ENPP1). Stingray Therapeutics, a biotechnology company located in the Texas Medical Center (TMC), is developing next-generation innate immune modulators targeting the STING (Stimulator of Interferon Genes) pathway. Clinical Candidate (SR-8541A) - Potent and Selective Inhibitor of ENPP1 SR-8541A Binds the Catalytic Pocket of ENPP1ENPP1 Inhibitors Activate the STING pathway and Promote Lympocyte Infiltration of Breast Cancer Single-Agent Activity (CT26 - Colon), 57.8% Decrease in Tumor Volume SR-8541A Treatment and Radiation Theapy Demonstrate Synergy and Abscopal Anti-Tumor Response in MC38 Mode Description - STING / ENPP1 The STING pathway is the body’s first level of defense against foreign pathogens (bacteria / viruses) and critical for enabling the adaptive immune system (e.g. T-Cells) to recognize cancer cells and attack. SR-8541A blocks ENPP1’s activity which cancer upregulates to suppress the STING ST imulator of IN terferon G pathway both in cancer cells and in the surrounding tumor microenvironment (TME). By downregulating ENPP1, SR-8541A enhances the innate immune response where adaptive immunity (e.g. checkpoint inhibitors) cannot defeat the cancer alone.SR-8541A used in combination with checkpoint inhibitors enables both arms of the immune system (innate / adaptive) to fight cancer providing a dramatic leap forward in immune-oncology treatment in tumors unresponsive to checkpoint inhibition (prostate , colorectal) and aiding response in tumors where checkpoint inhibitors are currently used melanoma, head and neck, triple-negative breast). Other advantages of ENPP1 inhibition include blocking adenosine production, an important immune suppressor, and helping to block cancer’s ability to repair DNA following targeted and / or chemotherapy. While Stingray's primary focus is oncology, it is also known that activation of the STING pathway via ENPP1 inhibition could have a major impact in infectious diseases, including Mycobacterium Tuberculosis and Hepatitis B, through the stimulation of host defense immunity. Timeline: Pre-IND Enabling Studies: 3Q2020 - 1Q2020 GLP Toxicology Single-Agent Pre-Clinical Studies (interferon responsive tumors - CTCL, Myelofibrosis and immune responsive tumors) Combination Studies - checkpoint inhibitors, anti-CD38 in multiple myeloma, PRRT (liquid radiation), PARP inhibitors, chemotherapy, CAR-T / CAR-NK cells File IND - 1Q2020 Financing: Stingray is raising $1.5M of bridge financing (convertible note funding pre-IND studies) leading to a $15M Series A advancing the company’s lead small molecule compound, SR-8541A, through Phase 1 clinical studies. Use of Proceeds $1M: Pre-Clinical (Chemistry, Biology, CMC, Toxicology) $1M: IP, Legal $11M: Two (2) Phase 1 Clinical Studies $2M: Administration