AUS
NZ
UK
CA
USA
FRA
GER
ESP
ITA
NLD
PRT
SWE
GRC
IND
POL
BRA
ZAF
RUS
CHN
UAE
On 25 October 2018, Paradigm Biopharmaceuticals (ASX:PAR) announced that it has entered into a Heads of Agreement regarding a strategic partnership with the New York, USA, based retired professional sporting network organization, the Pro Playersâ Elite Network (PPEN). Following this news, the share price of the company increased by 8.904 percent as on 25 October 2018.
The agreement will facilitate both the companies by identifying and assisting elite US sportspeople that are having knee and joint pathologies and treat them with injectable Pentosan Polysulfate Sodium (iPPS). According to the Paradigm, it is a logical step forward, as this agreement will provide the company a great opportunity to not only treat people in need but to gain significant exposure and promotion of the Company and iPPS in the US. Paradigm Biopharmaceuticals can get benefit from PPENâs extremely large network of ex-NFL Player.
By treating 125 patients in Australia, Paradigm Biopharmaceuticals was able to produce great TGA SAS results which reported an average of 51.5% pain reduction for knee OA pain of patients and now the company is expecting that they will be able to replicate the results in the US as well. Both Paradigm and the PPEN share the same desire in treating patients in the US given the scope of the opioid epidemic and the lack of safe, effective non-opioid pain treatments and both the parties are acutely aware of the proportionately high number of retired sportspeople that are suffering from chronic joint pain.Â
Under the agreement, the responsibility of PPEN will be to identify patients and assist in the recruitment of patients as well as assist with any associated media surrounding high profile US sportspeople that are treated with iPPS. The company is planning to utilize its established contacts and relationships with various NFL retired players and other elite sportspeople organizations, including the NFL Retired Players Association.
On 25 October 2018, Paradigm Biopharmaceuticals (ASX:PAR) also announced that it has successfully received commitments for an A$9 million placement to professional, institutional and sophisticated investors across Australia and Asia, including existing shareholders so that the company could maintain its excellent stretch of results and continue its strong run towards its next milestone â a phase 3 clinical trial program. The proceeds from the placement will also be used to establish a presence in the US and to fund a âcompassionate use programâ involving the US Pro Players Elite Network.
In the last six months, the share price of the company increased by 94.67 percent from $0.375 to $0.730 as on 22 October 2018. PARâs shares traded at $0.795 with a market capitalization of circa $92.18 million as on 25 October 2018 (AEST 4:00 PM).
Disclaimer
The advice given by Kalkine Pty Ltd and provided on this website is general information only and it does not take into account your investment objectives, financial situation or needs. You should therefore consider whether the advice is appropriate to your investment objectives, financial situation and needs before acting upon it. You should seek advice from a financial adviser, stockbroker or other professional (including taxation and legal advice) as necessary before acting on any advice. Not all investments are appropriate for all people. Kalkinemedia.com and associated websites are published by Kalkine Pty Ltd ABN 34 154 808 312 (Australian Financial Services License Number 425376). website), employees and/or associates of Kalkine Pty Ltd do not hold positions in any of the stocks covered on the website. These stocks can change any time and readers of the reports should not consider these stocks as advice or recommendations.
