Paradigm Biopharmaceuticals (ASX:PAR) has expanded its drug development pipeline by in-licensing Pentosan Polysulfate Sodium (PPS) for the treatment of heart failure from the University of Oslo, Norway.
PPS has demonstrated beneficial effects in an established preclinical heart failure model.
Paradigm will utilise PPS’s well-established safety data to fast-track development under the FDA 505(b)(2) pathway (drug repurposing)
This positions Paradigm within the US$18 billion global heart failure market.
The agreement comes ahead of Paradigm presenting and holding discussions with potential commercial partners at the 2017 BIO International Convention this week in San Diego.
Paul Rennie, chief executive officer, commented:
"This collaboration with the University of Olso provides Paradigm with an exciting novel approach to treat heart failure with PPS and provides an extended portfolio of clinical indications targeted by our drug repurposing business model.
"We believe that the unique properties of PPS - its anti-inflammatory action and its ability to slow or stop the tissue degenerative process in heart failure - provides a novel therapeutic approach not reported in other heart failure pharmaceutical drugs.
"This is enormously exciting as it means the product can potentially meet market needs that are not effectively managed by current cardiac drugs."
Next steps for Paradigm
The next steps for the company will be to focus on completing the Phase 2 Bone Marrow Edema clinical trial and commencing the Ross River clinical trial.
Following this, Paradigm will commence the Phase 2 pilot heart failure clinical Trial (n=24) before commencing the Phase 2b heart failure in 2018.