Here’s why ASX healthcare shares Neurotech and AFT Pharma are trending today

Summary

  • Neurotech International has commenced Phase I/II open-label clinical trial in children having Autism Spectrum Disorder.
  • Multinational pharmaceutical company AFT Pharmaceuticals disclosed the extension of licensing of Maxigesic® IV in South America.

Two Australian healthcare shares Neurotech International Limited (ASX:NTI) and AFT Pharmaceuticals Limited (ASX:AFP, NZX:AFT), are trending on the ASX today following some key updates.

Medical device and solutions company Neurotech International has commenced Phase I/II clinical trial in paediatric patients having Autism Spectrum Disorder (ASD). Another healthcare company AFT Pharmaceuticals disclosed the extension of licensing of Maxigesic® IV in South America.

Following the announcements, shares of the two players moved north. NTI shares were trading at AU$0.068, up 6.250%, and AFT shares were trading at AU$4.500, up 3.448% (at AEST 1:32 PM).

Other Australian healthcare shares that are faring well on the ASX today include Ecofibre Limited (ASX:EOF), up 12.025%, Race Oncology Limited (ASX:RAC), up 3.908%, and Monash IVF Group (ASX:MVF), up 5.059% (at AEST 1:34 PM). 

Neurotech initiates Phase I/II trial for Autism

Neurotech International updated the market on the commencement of a Phase I/II open-label clinical study in children with ASD. The study is being conducted under the guidance of Associate Professor Michael Fahey, Head of Paediatric Neurology Monash Children’s Hospital.  The study will assess the safety and efficacy of the full-spectrum medicinal cannabis in paediatric patients aged between 5-17.

Source: © Nastyazhi | Megapixl.com

The Company disclosed that key behaviours of NTI/Dolce lead strain (FEN 164) would be evaluated in ASD for 16 weeks, including a washout period of 4-week. This is the first time full-spectrum THC medicinal cannabis strains would be assessed for the treatment of ASD.

The study plan supports the successful completion of various in vitro studies that revealed the NTI/Dolce strains have compelling, unique properties that extend beyond CBD alone in results that are summarised below-

Source: Copyright © 2021 Kalkine Media Pty Ltd (Data Source: NTI Announcement)

Interestingly, NTI has started discussions with the Therapeutic Goods Administration (TGA) and relevant regulatory agencies for the therapeutic expansion and registration of these novel full-spectrum plants.

The Company also disclosed that the studies had been designed to evaluate dose-escalation, efficacy as well as washout period (4-week). All patients will be monitored and assessed by A/Prof Fahey and his team of clinical psychologists.

Neurotech International’s Mente device will also be assessed in combination with the NTI/Dolce medicinal cannabis strains.

Brian Leedman, Chairman of Neurotech International, commented-

AFT extends license of Maxigesic® IV in South America

AFT Pharmaceuticals announced that the Company had licensed Maxigesic IV into Bolivia, Colombia, Chile, Ecuador, Peru, and Uruguay, extending the addressable market of medicine to 17 countries in Latin America and the Caribbean.

The Company also notified that the agreement with Pharma Bavaria International builds on a deal signed in February 2020 to license Maxigesic IV to the German Company in 12 nations in Central America and the Caribbean.

Dr Hartley Atkinson, CEO of AFT Pharmaceuticals, commented-

Following the registration of Maxigesic as the IV formulation in Australia and New Zealand (mid-2019) to its registration in the European markets (mid-2020), AFT Pharmaceuticals has continued its efforts for out-licensing of the drug worldwide.

ALSO READ: Why AFT shares could be on the move today

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