Bioxyne (ASX: BXN) has initiated a cost reduction program as it progresses towards a new phase two study of its lead product, HI-164OV, to treat Chronic Obstructive Pulmonary Disease.
HI-164OV is an orally administered immunotherapeutic that works by controlling bacteria in airways damaged by inhaled toxins.
The treatment is not intended to replace current standard-of-care treatments but was created to significantly enhance the clinical outcomes.
The new study will be carried out in partnership with Vaxine to further investigate the hypotheses resulting from a range of earlier studies.
Bioxyne recently entered into a heads of agreement to secure funding through the $3.4 million sale of its probiotics business and sale of equity to privately-held, internationally recognised vaccine developer, Vaxine.
Growing target market
Chronic Obstructive Pulmonary Disease is a major target of global pharmaceutical research, with the global incidence growing rapidly in direct proportion to smoking and pollution in the developing world.
The disease is projected to be third most common cause of death worldwide by 2020, and there are currently no effective treatments.
Annual direct costs to treat Chronic Obstructive Pulmonary Disease are estimated at over $29.5 billion in the U.S.
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