Press Release

BOSTON, Nov. 29, 2021 (GLOBE NEWSWIRE) -- Praxis Precision Medicines, Inc. (NASDAQ: PRAX), a clinical-stage biopharmaceutical company translating genetic insights into the development of therapies for central nervous system (CNS) disorders characterized by neuronal imbalance, today announced that data from its rare disease programs will be delivered in three presentations at the American Epilepsy Society 2021 Annual Meeting, held December 3-7, 2021 in Chicago.

“We look forward to presenting data at AES on our small molecule rare disease programs, including PRAX-562, a persistent sodium channel blocker, and our KCNT1 inhibitor,” said Steven Petrou, Ph.D., chief scientific officer and co-founder of Praxis. “We are proud to have built a broad pipeline of small molecule and antisense rare epilepsy programs, including PRAX-562 and our lead ASO, PRAX-222, which are both expected to begin first-in-patient trials in the coming months. As these programs have advanced, our portfolio of differentiated treatment approaches for rare epilepsies with significant unmet need has expanded and progressed. We expect to declare a development candidate for the KCNT1 program in the coming months and, through our antisense collaboration with the Florey Institute of Neuroscience and Mental Health in Australia, we are excited to continue research efforts into epilepsies caused by mutations in SCN2A, SYNGAP1, PCDH19 and additional targets currently under evaluation.”

Presentation Details:

PRAX-562 is a Well-Tolerated Novel Persistent Sodium Current Blocker with Potent Anticonvulsant Activity in Models of SCN2A and SCN8A Gain of Function Epilepsy

• Session Date/Time: December 4 at 12:00 p.m. CT
• Presenter: Liam Scott, M.S., Senior Scientist, Translational Sciences, Praxis Precision Medicines
• Abstract Number: 1.268
  

PRAX-562: A Novel Sodium Channel Inhibitor with Greater Potency and Selectivity for Persistent Sodium Current Compared to Standard of Care

• Session Date/Time: December 5 at 12:00 p.m. CT
• Presenter: Kris Kahlig, Ph.D., Director, Discovery Sciences, Praxis Precision Medicines
• Abstract Number: 2.241
  

PRX-2904 Is a Small Molecule Selective Inhibitor of KNa1.1 (KCNT1) That Reverses the ECoG Phenotype of a KCNT1 Gain-of-Function Mouse Model

• Session Date/Time: December 5 at 12:00 p.m. CT
• Presenter: Archana Jha, Ph.D., Senior Scientist, Discovery Sciences, Praxis Precision Medicines
• Abstract Number: 2.240
  

About Praxis
Praxis Precision Medicines is a clinical-stage biopharmaceutical company translating genetic insights into the development of therapies for central nervous system disorders (CNS) characterized by neuronal imbalance. Praxis is applying insights from genetic epilepsies to broader neurological and psychiatric disorders, using our understanding of shared biological targets and circuits in the brain. Praxis has established a broad portfolio, including multiple disclosed programs across CNS disorders including depression, epilepsy, movement disorders and pain syndromes, with three clinical-stage product candidates. For more information, please visit https://praxismedicines.com/ and follow us on LinkedIn and Twitter.

Forward-Looking Statements

This press release may contain forward-looking statements within the meaning of The Private Securities Litigation Reform Act of 1995 and other federal securities laws, including express or implied statements regarding Praxis’ future expectations, plans and prospects, including, without limitation, statements regarding expectations, plans and timing for clinical data, the sufficiency of our cash, cash equivalents and marketable securities, the anticipated timing of our clinical trials and regulatory filings, and the development of our product candidates, including the design of our clinical trials and the treatment potential of our product candidates as well as other statements containing the words “anticipate,” “believe,” “continue,” “could,” “endeavor,” “estimate,” “expect,” “anticipate,” “intend,” “may,” “might,” “plan,” “potential,” “predict,” “project,” “seek,” “should,” “target,” “will” or “would” and similar expressions that constitute forward-looking statements under the Private Securities Litigation Reform Act of 1995.

The express or implied forward-looking statements included in this press release are only predictions and are subject to a number of risks, uncertainties and assumptions, including, without limitation: uncertainties inherent in clinical trials; the expected timing of submissions for regulatory approval or review by governmental authorities; regulatory approvals to conduct trials; risks, uncertainties and assumptions regarding the impact of the continuing COVID-19 pandemic on Praxis’ business, operations, strategy, goals and anticipated timelines, Praxis’ ongoing and planned preclinical activities, Praxis’ ability to initiate, enroll, conduct or complete ongoing and planned clinical trials and Praxis’ timelines for regulatory submissions; and other risks concerning Praxis’ programs and operations are described in additional detail in its Annual Report on Form 10-K for the year ended December 31, 2020, its Quarterly Reports on Form 10-Q and other subsequent filings made with the Securities and Exchange Commission from time to time. Although Praxis’ forward-looking statements reflect the good faith judgment of its management, these statements are based only on facts and factors currently known by Praxis. As a result, you are cautioned not to rely on these forward-looking statements. Any forward-looking statement made in this press release speaks only as of the date on which it is made. Praxis undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future developments or otherwise.

Investor Contact: Alex Kane Praxis Precision Medicines investors@praxismedicines.com 617-300-8481 Media Contact: Ian Stone Canale Communications Ian.stone@canalecomm.com 619-849-5388