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).
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Paradigm is focused on repurposing the drug pentosan polysulfate sodium in its injectable form (iPPS) for orthopaedic treatment of OA and bone marrow edema lesions (BMEL).
The readout of clinical trial results is expected in December.
An exclusive licence agreement has been executed with the Icahn School of Medicine at Mount Sinai, New York.
The company’s capital position now stands at $10.5 million which provides for the preparation of regulatory filings.
The partnership with the US-based network will give Paradigm substantial exposure and access to a large patient pool.
The company is focused on repurposing PPS, an FDA approved drug.
Shares in the drug development company last traded at 73 cents before the halt.
Shares in the company have more than tripled over the past 12 months.
Data is being collected through both a clinical trial and the TGA Special Access Scheme.
The trial is being conducted at six sites in four states across Australia.
Estimated size of the osteoarthritis treatment market is US$5 billion per annum.
These patients are being treated by their doctors under the TGA Special Access Scheme.
The results readout for the study is expected during the December quarter this year.
Paradigm’s share price has increased more than 60% in the last month and it was up more than 12% on Friday.
Chris Fullerton has been appointed as a non-executive director.
Up to 50 AFL players at seven clubs are using the breakthrough pain treatment drug.
The company is repurposing the drug that has a long track record of treating inflammation.
Of 45 patients treated, 84.4% responded with a reduction in joint pain.
Paradigm is repurposing the drug that has a long track record of treating inflammation.
Osteoarthritis affects as much as 13% of the world’s population.
