PharmAust Limited (ASX: PAA) is all set to increase the development of the drug candidate named “Monepantel” which is applicable to the pets and humans. In the present scenario, Monepantel is being marketed as well as registered as a drug which could cure parasite infections in the food chain animals. However, PharmAust expects that it would be able to repurpose Monepantel which could lead to the development of the oncological platform. However, further amendments could lead to the development of additional cancer treatments.
Today, PharmAust has made an announcement about the completion in regard to the development of prototype GMP method or Good Manufacturing Practice which is considered suitable for increasing the manufacturing of the Monepantel drug so that it can be used in the clinical trials. However, it has been done by joining hands with the Syngene International. GMP is being regarded as the “recognized benchmark” which every pharmaceutical manufacturing company must comply with. It includes the rigorous procedures to provide drugs along with extreme purity for an effective use whenever it is being advanced to the patients. Getting through with the GMP method would mean that PharmAust is done with the initial milestone and would now be able to step up to the next development stage i.e. carrying out an increased number of trials as well as increasing the operations.
The ultimate goal of PharmAust is to repurpose Monepantel in such a way that expenses, as well as risks associated with the development, is reduced. However, the subsidiary of PharmAust named Epichem is supporting the efforts of PharmAust of lesser risks as well as expenses. The company’s management believes that PharmAust has come to a stage where it has a sufficient technology to develop a number of products in the portfolio and that too at a reasonable cost and as per the standards which are being set up for the clinical trials in Europe, the United States as well as Australia. Needless to say, these markets are regarded as the largest markets in the world.
The development partner of PharmAust named Syngene is in the business of advancing integrated services to the biotechnology, pharmaceutical, animal health, nutrition, consumer goods as well as specialty chemical industries across the world. The company also has a rich portfolio of the clients. Monepantel is through with the stage one clinical trial in regard to dogs as well as humans which were diagnosed with the tumours. The company reflected favourable viewpoints in the trials which were conducted. It stated that all the trials which were being conducted have managed to achieve the primary clinical endpoints when it comes to safety as well as fall in the key clinical biomarkers.
PharmAust Limited has witnessed a strong increase on October 29, 2018. The shares have ended the session at A$0.043 per share which implies that they have increased A$0.004 per share or 10.256% today. At the time of writing, the market capitalization of PharmAust stood at circa $7.76 million. The company’s share prices have been trading in the lower range.
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