Synairgen focuses on potentially breakthrough coronavirus treatment now at last stage of trials
The company has been developing a treatment for chronic lung disease in-house now tested for COVID-19
Company
LON:SNG
Synairgen PLC is a UK-based respiratory company focused on drug discovery and the development of SNG001 (inhaled interferon beta) as potentially the first host-targeted, broad-spectrum antiviral treatment delivered directly into the lungs for severe viral lung infections.
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The company has been developing a treatment for chronic lung disease in-house now tested for COVID-19
“The trial is both a test of the drug, and a test of how technology can be utilised to deliver and manage the administration"
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“We believe this trial presents an opportunity for a significant UK scientific breakthrough and, if given the right support, our drug could rapidly assist with the global crisis," said chief executive, Richard Marsden
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“SNG0011 is one of the few potential treatments to have shown efficacy against severe viral lung infections such as COVID-19"
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Patients who were given the company's inhaled formulation of interferon beta-1a had greater odds of improvement and recovered more rapidly than those given a placebo
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"We now have the resources to be able to rapidly progress this potential breakthrough treatment
The company could receive a further £7mln from an open offer of stock to investors that did not take part in the placing in which shares were sold at 175p each
A glance at some of the day's highlights from the Proactive Investors newswire
Chief executive Richard Marsden said the Synairgen team was “working tirelessly to progress SNG001 through the required clinical and regulatory channels"
The application covers the use of SNG001 to treat virus-induced exacerbations in patients suffering from COPD
The analysis of SNG001 revealed it was well tolerated in this older population studied and that lung antiviral responses were “significantly enhanced”
Turner Pope's Andy Thacker said there has been a boom in investor demand for firms in the biotech and health spaces since the onset of the coronavirus pandemic
On Monday, the company reported that patients who received its treatment had a 79% lower risk of developing severe disease compared to those given the placebo
On Monday morning, the company unveiled results from a clinical trial which showed that patients that received the treatment had a 79% lower risk of developing the severe version of the disease than those taking a placebo