INDP News & Events

Indaptus Therapeutics entered into a $6M securities purchase agreement with investor, David Lazar, for the purchase of non-voting convertible preferred stock of the Company. Mr. Lazar has been appointed Indaptus' Co-CEO and Chairman of the Board. Jeffrey Meckler will continue as Co-CEO and remain on the Board. Under the securities purchase agreement, the Company has agreed to issue 300,000 shares of non-voting convertible Series AA preferred stock and 700,000 shares of non-voting convertible Series AAA preferred stock in exchange for Mr. Lazar's investment of $6M. Each share of Series AA Preferred Stock is convertible into 20 shares of common stock while each share of Series AAA Preferred Stock is convertible into 150 shares of common stock. Conversion of the shares is contingent upon obtaining stockholder approval at the next meeting of stockholders, which is expected to be held during the first quarter of 2026. Closing of this transaction occurred on December 23. In connection with the agreement, the Company's Board was reconstituted. In addition to Mr. Lazar's appointment as Chairman, at closing Avraham Ben-Tzvi joined the Board replacing Hila Kara and Dr. Robert Martell, who stepped down from the Board. After receipt of stockholder approval, Mr. Lazar will have the right to nominate up to three additional directors to the Board.

Jeffrey Meckler, Indaptus Therapeutics' Chief Executive Officer, commented, "We have completed the Safety Lead-In cohort, dosing six evaluable participants with the combination of Decoy20 and tislelizumab. Following efficacy evaluations, three participants achieved stable disease at the first assessment, two of whom remain on study, while three participants experienced disease progression. The Safety Review Committee has reviewed all available safety data from this cohort and determined that the Decoy20 and tislelizumab combination appears to be tolerable at the current dose and schedule. While this safety data may support proceeding to full enrollment, we have paused enrollment pending additional efficacy evaluations of the remaining participants and to further assess our next development options."

Indaptus Therapeutics announced recent updates for the ongoing INDP-D101 clinical trial. "We currently have completed the monotherapy portion of our trial and have initiated seven patients in our initial cohort of combination therapy with tislelizumab, BeOne's anti PD-1 monoclonal antibody. We are encouraged to report a patient in our monotherapy study who previously received an anti-PD-1 therapy had a clear reduction in size of liver metastases, consistent with a Partial Response. Unfortunately, there was evidence of disease progression at the next scheduled imaging, and the patient discontinued the study," said Roger Waltzman, CMO. "However, the investigator believes the therapy provided clinical benefit for the patient over that 4-month period. Additionally, we have dosed 7 patients in the combination therapy initial safety cohort. Of the first three evaluable patients, one patient had stable disease at the first assessment, and the other two patients had disease progression. We continue to dose additional patients and will report their results in the coming weeks."

H.C. Wainwright & Co. is acting as exclusive placement agent in connection with this offering.