Two ASX healthcare stocks that had a strong week

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  • Medical technology player Nova Eye Medical announced the publication of positive patient follow-up data from a sub-study analysis of the LEAD trial.
  • Cynata Therapeutics has initiated a new study for investigating the high potency of Cymerus™ MSCs and entered an MoU with TekCyte.

The healthcare sector has always been one of the attractive industries for investments, as this sector’s growth is not heavily reliant on the economic cycles. On the back of positive announcement related to clinical trials, regulatory approval and other drug developments, healthcare stocks gain market participants’ attention. The fate of most healthcare companies depends on the successful completion of clinical trial and drug approval.

With this backdrop, let us discuss 2-ASX healthcare stocks Nova Eye Medical and Cynata Therapeutics, which has announced significant updates during the week-

Nova Eye Medical Limited (ASX:EYE)

ASX-listed medical technology company Nova Eye Medical Limited announced the publication of positive five-year patient follow-up data from a sub-study analysis of the LEAD Trial in Ophthalmology Retina.

A controlled, randomised, multi-centre trial was conducted in 292 patients during 2012-2018. The LEAD Trial evaluated 2RT®efficacy at three-years in patients with intermediate age-related macular degeneration (AMD).

Post-Lead trial, a five-year review provided critical input to the Company’s planned 2RT® FDA trial to obtain regulatory clearance in the US. The review demonstrates improvement in 2RT® treatment benefits for intermediate-stage AMD.

Tom Spurling, Director of EYE, commented:

Launch of a new clinical trial for safety and efficacy assessment of iTrack™

On 2 March 2021, Nova Eye Medical announced the commencement of a prospective, randomised, single-masked trial across eight surgery centres in the US.

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  • The trial is for assessing the safety as well as efficacy outcomes of the ab-interno canaloplasty procedure by using iTrack™ canaloplasty microcatheter of EYE.
  • The clinical trial compares iTrack™ with the safety and efficacy of the OMNI® device for the treatment of mild to moderate glaucoma.
  • The clinical trial will assess the reduction in mean IOP (intraocular pressure) and mean the number of anti-glaucoma medications, including the complications related to surgical and postoperative.

Stock Information: On 5 March 2021, EYE shares last traded at A$0.345, up by 4.545%.  There was an increase of 2.985% in the share price for the week ended 5 March.

Cynata Therapeutics Limited (ASX:CYP)

A clinical-stage biotechnology player, Cynata Therapeutics, updated the market with the initiation of a new study for investigating the high potency of Cymerus™ mesenchymal stem cells (MSCs).

The information in the study model mimics the features of idiopathic pulmonary fibrosis (IPF) and adds to the substantial body of knowledge of CYP.

Moreover, the observations are anticipated to offer valuable information related to the potential mechanisms of action of Cynata’s MSC products. This information will be important in leveraging commercial as well as regulatory activities.

Professor Chrishan Samuel at Monash University in Melbourne will be spearheading the study. The Company disclosed that the study is anticipated to start soon and conclude within six months.

Dr Kilian Kelly, Chief Operating Officer of Cynata, commented-

MoU Implementation with TekCyte

On 1 March 2021, Cynata Therapeutics revealed the execution of a Memorandum of Understanding (MoU) with TekCyte Pty Ltd for TekCyte’s wound dressing technology.

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TekCyte has developed a proprietary surface modification technology for manufacturing polymer-coated dressings to deliver MSCs to wounds.

The key highlights of the MoU are as follows:

  • The MoU expects the parties to discuss and enter into a licence agreement to use TekCyte’s technologies for commercially developing CYP’s MSC product to treat DFU (diabetic foot ulcers).
  • Cymerus™ MSCs of Cynata have shown encouraging efficacy in a pre-clinical model of the diabetic wound.
  • Based on solid pre-clinical foundation, Cynata Therapeutics intends to perform a clinical trial of Cymerus MSC product in DFU patients.
  • The clinical trial will be based on TekCyte technology.

Besides, TekCyte will work with Cynata for active dressing manufacture and supply for the clinical trial.

Stock Information: On 5 March 2021, CYP shares closed the day’s trade at A$0.660, in-line with the previous close. The 5-day return for the stock stood at 3.937%.


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