OKYO Pharma Ltd (LSE:OKYO, NASDAQ:OKYO), an ophthalmology-focused biotech, said has activated its first clinical trial site in the US for a phase II trial evaluating the efficacy and safety of its dry eye disease treatment, OK-101.
This multi-centre, randomised, double-blinded and placebo-controlled study is expected to accept its first patient within two weeks.
The drug candidate itself aims to address the significant unmet need in the multi-billion-dollar dry eye disease market. OKYO pointed out that around 700mln people worldwide suffer from the chronic ocular condition.
Chief executive Gary Jacob said he expects the clinical evaluation to be completed by the year-end.
OK-101 uses membrane-anchored-peptide technology to treat dry eye. In mouse models, it demonstrated anti-inflammatory and pain-reducing activities in dry eye disease and corneal neuropathic pain.
The inclusion of a lipid 'anchor' in the candidate drug molecule is designed to combat washout and enhance time on the eyeball.