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Arix Biosciences hails phase I success of investee company Pharmaxis

Arix is a cornerstone investor in the ASX life sciences group

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The two-part phase I clinical study revealed Pharmaxis’ drug was safe and there were no adverse reactions

Arix Biosciences PLC (LON:ARIX) has hailed the early-stage clinical trial success of an Australia-based pharma company in which it has a significant stake.

Pharmaxis (ASX:PXS) is developing what’s called a LOXL2 inhibitor to treat fibrotic diseases such as non-alcoholic steatohepatitis (NASH) and idiopathic pulmonary fibrosis.

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The two-part phase I clinical study revealed Pharmaxis’ drug was safe and there were no adverse reactions.

The pharmacokinetic profile of the treatment “showed the expected dose related-increases in exposure”, the data revealed. Pharmacokinetics relates to the way the drug is absorbed and distributed.

Repeating the positive results seen in a similar trial for its first inhibitor compound, “excellent drug-like properties [were] demonstrated”, Pharmaxis said.

Arix is a cornerstone investor in the ASX life sciences group and led August’s £13.4mln financing round.

Pharmaxis will host an investor research briefing on Tuesday, 20 November from 10 am to 12.00 noon, (Australian eastern daylight time).

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