Health care sector company Anatara Lifesciences Ltd (ASX: ANR) unveiled the favourable results from its in-vitro proof of concept study of its first human product candidate, Gastrointestinal ReProgramming (GaRP).
Anatara is an Australia-based life sciences company that is engaged in the development and distribution of innovative products for gastrointestinal health to serve the significant unmet need.
GaRP is Anatara’s proprietary first human product candidate that is designed as a natural dietary supplement targeted at maintaining and restoring a healthy human gut and microbiome. The Proof of Concept Studies concluded that GaRP is a potential breakthrough dietary product which has reportedly reduced the invasion of Inflammatory Bowel Disease (IBD) and Irritable Bowel Syndrome (IBS) pro-inflammatory bacteria into healthy gut cells by more than 95%.
On the back of receiving positive efficacy data for GaRP concept studies, Anatara has started planning towards a human clinical study for Irritable Bowel Syndrome (IBS) with patient registration expected to begin in the second half of 2019. The company stated that human study would be observational with the potential to support health claims and in parallel, it intends to move GaRP into the final stage of pre-clinical development for IBD with mouse pre-clinical studies expected to be completed by the end of July 2019.
More than 5 million people suffer from Inflammatory Bowel Disease (IBD) globally, whereas, Irritable Bowel Syndrome (IBS) impacts about 11% of the worldwide population. The Group observed that around 30-50% of IBD patients and approximately 50% of IBS patients turn to dietary supplements and alternative medicines.
With respect to animal health, Anatara negotiated an exclusive global licensing agreement for the worldwide development, distribution and marketing of Detach with Zoetis Inc, leading global animal health company. Detach is a natural, safe, non-antibiotic product that aids in the control of diarrhoea in livestock.
During December 2018 quarter, the company secured the Detach registration from Australian Pesticides and Veterinary Medicines Authority (APVMA) for use in piglets in Australia. Anatara received US$2.5 million in upfront payments and is eligible to receive milestone payments of up to US$6.3 million, subject to first commercial sales and aggregate annual sales exceeding certain amounts. It also includes the royalty rates on product sales in the typical animal health range of 3-4%.
Going forward, the Group continues to focus on the development of human gastrointestinal health products with the recently formed Product Development Advisory Board comprising of world-leading scientists and clinicians in gastrointestinal health. Anatara further confirmed that it is sufficiently funded to execute on the development and partnering of its first human product, GaRP.
On the financial front, the Group received $1.25 million from the Australian Taxation Office under the Federal Government’s R&D Tax Incentive scheme. Its cash and cash equivalents stood at $1.49 million as at 31 December 2018.
ANR stock price last traded at $0.390 with a market capitalisation of $20.26 million as at 22 February 2019.
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