Noxopharm Ltd (ASX:NOX) has identified a drug candidate, NYX-104, to assist patients recovering from traumatic brain injury due to stroke, concussion, head trauma or severe epileptic seizure.
The company had collaborated with the University of New South Wales (UNSW) in March 2017 to design the drug.
Importantly, the discovery of a key drug target at UNSW and the ability of Noxopharm to design the drug and deliver it across the blood-brain barrier made this collaboration possible.
The loss of brain function after a stroke or concussion is mainly due to the secondary death of brain cells.
NYX-104 has been confirmed as an inhibitor of this secondary process in animals.
The aim of NYX-104 is not to treat the original injury but to stop the cascade of death of nerve cells (known as excitotoxicity) that occurs in the brain and spinal cord after the injury.
This ‘follow-on damage’ typically accounts for much of the loss of function and paralysis following such injuries.
Limiting this ‘follow-on damage’ is expected to make a significant difference to the recovery prospects of people following brain and spinal cord injury and reducing rehabilitation time and costs.
Noxopharm’s share price increased by 75% in the past one month and closed at $0.595 on Friday.