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Summary
- ASX 300 healthcare company Starpharma Holdings has applied its novel DEP® drug delivery technology to develop a long-acting, water-soluble formulation of remdesivir.
- Starpharma’s DEP® remdesivir is a water-soluble nanoparticle formulation of remdesivir having controlled release properties. Its solubility is 100-fold higher than standard remdesivir.
- This is the second program of Starpharma to address COVID-19, and it is separate to the SPL7013 antiviral nasal spray for COVID-19.
- Post announcement on 1 September 2020, the share price of Starpharma surged by over 12% to end at A$1.700.
ASX 300 listed healthcare company Starpharma Holdings Limited (ASX:SPL) has applied its novel DEP® drug delivery technology for developing a water-soluble, long-acting formulation of remdesivir for treatment of COVID-19 patients. This will be the second program of Starpharma to address COVID-19 which is caused by severe acute respiratory syndrome coronavirus 2 (SARS-CoV-2).
Post this significant announcement on 1 September 2020 share price of Starpharma skyrocketed 12.211% to close at A$1.700. The market capitalisation of SPL stock stood at A$564.43 million. SPL shares generated a positive return of 51.50% and 43.60% in the last six and three months, respectively.
About the Company
Melbourne-headquartered, ASX 300 healthcare company Starpharma Holdings Limited is a leader across the world for producing therapeutic dendrimer formulations for life science, pharmaceutical and other applications. The Company has two key development programs, including DEP® drug delivery and VivaGel® portfolio.
SPL is working for improving women health, and its VivaGel® BV formulation is based on SPL7013 which is a proprietary dendrimer.
The new dendrimer-based DEP® platform of Starpharma has comprehensive commercial applicability in drug delivery by improving the therapeutic efficiency of drugs. This enhancement in therapeutic utility is performed through improved solubility, efficacy & pharmacokinetics, declines in certain toxicities (like bone marrow toxicity). Starpharma’s DEP® platform is creating a unique intellectual property (IP) position.
Moreover, the Company has three internal DEP® products under clinical development in patients with solid tumours- DEP® docetaxel, DEP® cabazitaxel and DEP® irinotecan.
Starpharma’s slow release soluble DEP® remdesivir nanoparticle
On 1 September 2020, Starpharma announced that the Company develops slow-release soluble for of DEP® remdesivir nanoparticle.
Remdesivir is an antiviral drug, currently being developed by Gilead Sciences Inc (NASDAQ:GILD) to treat COVID-19. Moreover, Remdesivir has emergency use authorisation (EUA) from the US FDA to treat COVID-19 in adults and children hospitalised with serious symptoms.
COVID-19 investigational drug Remdesivir is a broad-spectrum antiviral drug. Current formulations of remdesivir are required to be administered by IV due to the low solubility of the drug. Each infusion of remdesivir taking up to approximately 2-hours and requiring daily administration for either five or ten days.
To know more, Do read How Does Gilead’s Antiviral Drug Remdesivir Help to Combat COVID-19?
Comparatively, DEP® remdesivir by Starpharma is a nanoparticle formulation of remdesivir which is extremely water-soluble and have controlled release properties. This nanoparticle formulation would potentially allow to reduce the dosing frequency and use in a non-hospital setting, like aged-care.
The solubility of DEP® remdesivir is 100 times higher than the solubility of standard remdesivir. The advantage of enhanced aqueous solubility of DEP® remdesivir is that it would enable subcutaneous (SC) injection rather than IV infusion, allowing for outpatient treatment along with reducing the burden on hospitals.
ALSO READ: Are Investors Buying these Healthcare Stocks: Starpharma, Sigma and API
The development of DEP® remdesivir is the second program of Starpharma to address COVID-19 and possibly upcoming pandemics. Moreover, the Company notified that this development is separate to the SPL7013 antiviral nasal spray for COVID-19.
Starpharma also disclosed that the ability of remdesivir to deliver via a long-acting, subcutaneous (SC) injection has the potential to expand its application outside hospitals, into settings like aged care.
This would also accelerate the use of remdesivir in nations where the healthcare system is less developed. The Company also stated that it would also improve the convenience of the patient and lessen the burden on the healthcare system.
CEO Starpharma Dr Jackie Fairley commented-
Starpharma Holdings announced its FY2020 results on 27 August. To glance at the results, click here.
An Update on the other COVID-19 program - SPL7013 nasal spray
Earlier, on 25 August 2020, Starpharma provided an update on the development and regulatory & manufacturing activities around the Company’s nasal spray to protect against COVID-19. The nasal spray is based on SPL’s SPL7013, the proprietary antiviral dendrimer.
Starpharma is in an advanced stage with formulations development. SPL has undertaken pilot manufacturing and has finalised a manufacturer. Further, the Company confirmed that antiviral testing was complete with SPL7013 showing potent antiviral activity against the novel coronavirus, SARS-CoV-2.
The healthcare player has assembled the regulatory documentation to prepare for submission with a confirmed fast track regulatory pathway for several critical markets.
ALSO READ: COVID-19 Treatment: Developments in Australia
Bottomline
Starpharma is in the race of developing COVID-19 treatment, and its SPL7013 antiviral nasal spray in under development. However, with the addition of DEP® remdesivir to its COVID-19 development program, the Company moves a step further to develop potential medicine to treat dreadful coronavirus infection.
ALSO READ: What’s defining the momentum for these ASX 300 listed healthcare share prices: IDX, NAN, ANN
