Manatee County company listed on Nasdaq

A clinical-stage biotech company based in Manatee County began trading on the Nasdaq Capital Market on Thursday. Lakewood-Amedex Biotherapeutics is listed under the ticker symbol LABT.

Headquartered on Cooper Creek Boulevard in University Park, the company is working to advance a novel class of antimicrobials it has patented called the Bisphosphocin class. Its goal is to reduce the threat posed by antibiotic-resistant bacterial strains like MRSA and VRE.

"This listing is a notable achievement, marking a new chapter for our company, enabling the accelerated development of our Bisphosphocin class of compounds,” Dr. Doug Manion, chairman of the board of Lakewood-Amedex Biotherapeutics, says in a statement. Among its compounds is the company's lead product, Nu-3 — a topical gel being pursued as a potential treatment for infected diabetic foot ulcers.

"Close to 40 million people in the US live with diabetes, and around one-third will develop a [diabetic foot ulcer] in their life, of which about 50% will be infected at some point,” Kelvin Cooper, Lakewood-Amedex Biotherapeutics CEO and senior vice president of research and development, says in a statement. “Antibiotic-resistant bacterial strains are a major concern for the treatment of these patients. We look forward to accelerating our work targeting this major unmet need."

Initial exploratory clinical trials of Nu-3 using subclinical doses showed a trend of positive antimicrobial response and improved wound healing, according to a statement. 

Next, the company plans to conduct a preliminary small-scale study to assess safety and effectiveness, known as a Phase 2a clinical trial, followed by a placebo-controlled Phase 2b study comparing doses.