PaxMedica Announces NASDAQ Closing Bell Ringing to Celebrate Initial Public Offering and Autism Awareness Month

Broadcasting Live on Wednesday April 19^th at 3:45 PM ET

TARRYTOWN, NY, April 19, 2023 (GLOBE NEWSWIRE) — via NewMediaWire – PaxMedica, Inc. (Nasdaq: PXMD), a clinical stage biopharmaceutical company focusing on the development of novel anti-purinergic drug therapies (“APT”) for the treatment of disorders with intractable neurologic symptoms, today announced that Chief Executive Officer Howard Weisman will ring the Nasdaq Stock Market closing bell on Wednesday April 19, 2023. This comes to celebrate PaxMedica’s listing of its common shares on the Nasdaq Capital Market in August 2022 and April’s Autism Awareness Month.

The live broadcast will start at 3:45 PM Eastern Time on April 19, 2023 from the Nasdaq MarketSite Tower in New York City, New York. Please tune in to the broadcast by visiting https://livestream.com/accounts/27896496/events/10809459

Howard Weisman, Chief Executive Officer of PaxMedica, commented, “I am honored to ring the Nasdaq bell on behalf of the entire PaxMedica team. We’ve worked hard to reach this important market milestone, and to be here during Autism Awareness Month is a poignant reminder of the enormous clinical need for new treatment modalities. Thank you to the Nasdaq team for the recognition and opportunity and to all of those who have helped us on our journey. We appreciate everyone’s support as we advance on our mission to develop treatments for disorders with intractable neurologic symptoms, such as autism spectrum disorder.”

About PaxMedica

PaxMedica is a clinical stage biopharmaceutical company focusing on the development of anti-purinergic drug therapies (“APT”) for the treatment of disorders with intractable neurologic symptoms, ranging from neurodevelopmental disorders, including Autism Spectrum Disorder (“ASD”), to Myalgic Encephalomyelitis/Chronic Fatigue Syndrome (“ME/CFS”), a debilitating physical and cognitive disorder believed to be viral in origin and now with rising incidence globally due to the long term effects of SARS-CoV-2 (“COVID-19”). One of PaxMedica’s primary points of focus is the development and testing of its lead program, PAX-101, an intravenous formulation of suramin, in the treatment of ASD and the advancement of the clinical understanding of using that agent against other disorders such as ME/CFS and Long COVID-19 Syndrome, a clinical diagnosis in individuals who have been previously infected with COVID-19.

Forward-Looking Statements

This press release contains “forward-looking statements.” Forward-looking statements reflect our current view about future events. Investors can identify these forward-looking statements by words or phrases such as “may,” “will,” “could,” “expect,” “anticipate,” “aim,” “estimate,” “intend,” “plan,” “believe,” “is/are likely to,” “propose,” “potential,” “continue” or similar expressions. These forward-looking statements include our anticipated clinical program, the timing and success of our anticipated data announcements, pre-clinical and clinical trials and regulatory filings, statements about the strength of our balance sheet. These forward-looking statements involve known and unknown risks and uncertainties and are based on the Company’s current expectations and projections about future events that the Company believes may affect its financial condition, results of operations, business strategy and financial needs. Such risks and uncertainties include, but are not limited to, risks associated with the Company’s development work, including any delays or changes to the timing, cost and success of the Company’s product development and clinical trials, risk of insufficient capital resources, cash funding and cash burn and risks associated with intellectual property and infringement claims.  The Company undertakes no obligation to update or revise publicly any forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations, except as may be required by law. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that such expectations will turn out to be correct, and the Company cautions investors that actual results may differ materially from the anticipated results and encourages investors to review those other risks and uncertainties described in the section titled “Risk Factors” in our Annual Report on Form 10-K for the year ended December 31, 2022 and other reports as filed with the SEC.

Contacts:

ir@paxmedica.com

Stephanie Prince
PCG Advisory
sprince@pcgadvisory.com
(646) 863-6341