ChitogenX Inc (CSE:CHGX), formally known as Ortho Regenerative Technologies, said it achieved a key milestone by initiating the enrollment of the first patients in its US phase I/II rotator cuff tear repair clinical trial in its second quarter ended July 31, 2022, for the fiscal year 2023.
The Montreal-based company focused on the development of novel soft tissue repair regenerative technologies, initiated patients’ enrollment following completion of the first patient surgery in its US Phase I/II rotator cuff tear repair clinical trial.
The first patient surgery was successfully completed at the Tucson Orthopaedic Institute in Tucson, Arizona. The clinical trial will enroll 78 patients at 10 clinical sites in the US.
READ: Ortho Regenerative Technologies announces name change to ChitogenX
"The company achieved its most important corporate milestones ever during the 2Q with the successful enrollment of the first patients in its US Phase I/II rotator cuff tear repair clinical trial," ChitogenX CEO Philippe Deschamps said in a statement.
The ORTHO-R phase I/II clinical study is a prospective, controlled, and blinded clinical trial, to evaluate the safety and effectiveness of its ORTHO-R soft tissue repair platform as an adjunct to standard of care surgery versus standard of care surgery alone for rotator cuff tear repair.
ORTHO-R, the company’s lead Chitosan-Platelet-Rich Plasma (PRP) hybrid drug/biologic implant combination product, is formulated and designed to increase the healing rates of occupational and sports-related injuries to tendons, meniscus, and ligaments.
In September this year, Ortho Regenerative Technologies Inc (CSE:ORTH) recently changed its name to ChitogenX Inc (CSE:CHGX) to better reflect the company's expanded clinical and commercial opportunities.
"Regenerative medicine is one of the most dynamic fields of medicine and as such, our new corporate name reflects the much broader commercial opportunities provided by our proprietary drug/ biologic biopolymer beyond just orthopedics,” said Deschamps. “We believe our technology platform is well positioned to help delivering the healing power of regenerative medicine and look forward to demonstrating how it can help doing so to targeted body systems and aid in tissue and organ repair".
In May 2022, ChitogenX received, through its partnership with Polytechnique Montreal, a $500,000 non-dilutive grant from Axelys, to advance the development of its second technology platform indication, ORTHO-M, for meniscus repair.
During the quarter, the company also received a method and composition patent from the US Patent Office and received a notice issue from the Canada and European patent offices for the company's ORTHO-R soft tissue repair platform, protecting its core intellectual property until 2035.
Contact the author Uttara Choudhury at uttara@proactiveinvestors.com
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