Paradigm Biopharmaceuticals Ltd (ASX: PAR) is a biopharmaceutical company. The Company develops PPS drug to treat respiratory diseases such as allergic asthma, allergic rhinitis, and chronic obstructive pulmonary. The company offers its services in Australia.
The company has via a recent ASX release stated that it would host a conference call to present and discuss the results from the phase 2b randomised double-blind placebo-controlled multicentre study. These clinical trials were conducted to ascertain the effects of injectable Pentosan Polysulfate sodium (iPPS) in the treatment of pain with osteoarthritis of the knee and concurrent subchondral bone marrow edema lesions. The conference will be hosted at 9:00 AM (AEDT) on Tuesday 18th December 2018. For this, the conference id would be “Conference ID – 221766”.
The company will subject to the success of phase 2b results, is aiming to conduct the expected phase 3 trial in the US in the CY 2019. In case, the phase 2b trial results are encouraging, this will garner a significantly big pharma interest into the product.
The company had in July 2017 commenced the phase 2a clinical trial to treat those people who were infected with the Ross River virus. The results of this earlier conducted trial are also expected to be released in the first quarter of CY2019.
The company has also recently affected an Exclusive In-License Agreement for the use of iPPS in the treatment of mucopolysaccharidoses (MPS). This disease is an inherited ailment. The unmet medical need in these kinds of inherited diseases is lack of treatment of joint pain and dysfunction akin to osteoarthritis. And thus, the application of iPPS in treating these rare joint diseases comes in handy.
The company is focussed upon and working on its drug repurposing strategy. The benefits of putting this strategy into place are that it will ultimately result in the lower costs, accelerated development timelines and higher success rates than the standard clinical development timeline.
The company had earlier via a release stated; it had found out that the 183 patients who were treated with the iPPS by their doctors under the Therapeutic Goods Administration Special Access Scheme, reported an average pain reduction score of 51.4% across those patients. There have been no significant serious adverse events or side effects. This has again corroborated the fact that the iPPS treatment has a well-established safety profile. Hence, it's now pretty reassuring to the company that a similar safety profile is likely to be displayed in the current Phase 2b OA/BMEL trial. The pain reduction effects of iPPS are considered substantially better than the typical 15% pain reduction scores reported for opioid treatments for chronic pain in OA of the knee and hip.
Meanwhile, the share price of the company has risen 78.38 percent in the past six months as on 13 December 2018. PAR’s shares traded at $1.320 with the market capitalization of circa $184.55 Million as on 17 December 2018 (AEST 04:00 PM).
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