NeuroScientific Biopharmaceuticals Ltd (ASX:NSB) has commenced trading on the ASX today after it raised the maximum under its initial public offering (IPO) of $6 million at 20 cents.
The company is developing peptide-based pharmaceutical drugs that target a number of neurodegenerative conditions with high unmet medical demand.
Peptides refer to compounds consisting of two more amino acids linked in a chain and neurodegenerative is an umbrella term for conditions which primarily affect the neurons in the human brain.
These include Parkinson's disease, Alzheimer's disease, and Huntington's disease.
Peptide-based drug portfolio
The company’s product portfolio consists of:
• EmtinB, the company’s lead peptide candidate which is a therapeutic peptide initially targeting Alzheimer’s disease;
• 15mS.A. which is being developed as a diagnostic peptide for early-stage Alzheimer’s disease; and
• Other Emtin peptides (EmtinAc, EmtinAn, and EmtinBn) which have demonstrated similar therapeutic potential as EmtinB.
Progressing EmtinB towards phase I human trials
NeuroScientific considers that preclinical validation of EmtinB confirms the peptide has sufficient therapeutic potential to proceed to clinical trials in humans.
The company will now progress EmtinB through safety and toxicology studies required to permit the company to submit an Investigational New Drug (IND) application with the FDA and prepare for phase I human clinical trials.
15mS.A. has several novel capabilities
Based on the results of preclinical studies, NeuroScientific consider that 15mS.A. has several novel capabilities that have the potential to translate into diagnostic processes.
Compared to existing methods, these processes may aid in diagnosing patients with Alzheimer’s disease at an earlier stage and/or provide a more thorough assessment of a patient’s risk of developing Alzheimer’s disease.
15mS.A. will be assessed for its potential for further sequence optimisation and the attachment of a radio-label that will allow the peptide to be used as an imaging agent.