Paradigm Biopharmaceuticals receives positive results for Ross River clinical trial
The trial was treating patients with joint pain or joint stiffness.
Company
ASX:PAR
Paradigm Biopharmaceuticals Ltd (ASX:PAR) is a drug repurposing company driven by core competencies and experience at board and executive level in clinical and commercial pharmaceutical development. The company’s approach is to take an existing approved drug, which has demonstrated safety in its approved indications, and repurposing the drug in a new patented therapeutic application. Paradigm’s pipeline indications cover the use of pharmaceutical compound Pentosan Polysulfate Sodium (PPS), supported by full patent and IP protection and its immediate commercial focus is the repurposing of PPS for the treatment of Osteoarthritis (OA).
175 stories · page 6 of 9
The trial was treating patients with joint pain or joint stiffness.
Doctors can administer the treatment to patients under the TGA Special Access Scheme.
Investments and investor services
Monday is Memorial Day in the US meaning stock markets are closed.
The retail entitlement offer had a take-up rate of about 54.7% for acceptances of entitlements and applications for additional shares by eligible retail shareholders.
Along with the entitlement offer, Paradigm has raised $51.6 million via a placement to professional, institutional and sophisticated investors.
The company has today commenced the retail component of its $77.9 million capital raising.
The capital raising has attracted a number of international institutional investors.
OA remains the most common form of joint disease globally, affecting over 30 million adults in the US alone.
In conjunction with the capital raise, Paradigm has revealed that it has successfully met the primary and secondary endpoints of its phase 2b trial in OA of the knee.
Over the past year, shares have come from 29 cents to be trading at around $1.90.
The company has begun discussions with International key opinion leaders for mucopolysaccharidoses (MPS) clinical trial design and site selection.
Investments and investor services
The rebalance changes are effective at the open of trading on March 18, 2019.
MPS or mucopolysaccharidoses is an orphan indication with market exclusivity and high profit margins.
The injectable PPS trial has had a clinically meaningful and statistically significant result in patients with arthritic knee pain.
The trial met the primary endpoint with a change in the knee injury and OA outcome score, confirming the potential for safe and effective treatment with iPPS.
The call will discuss the phase IIb randomised double-blind placebo controlled multicentre study.
A trading halt will remain in place until the start of trading on Tuesday, December 18, or when an announcement is released.
Paradigm is focused on repurposing the drug pentosan polysulfate sodium in its injectable form
Patients access the treatment through their doctor under the TGA’s Special Access Scheme.
The readout of clinical trials is expected this month.