Why are ASX shares Botanix Pharmaceuticals and Medibio on the rise today?

Summary

  • Medicinal cannabis player Botanix Pharmaceuticals Limited has provided a clinical development update of the BTX 1801 antimicrobial platform.
  • Botanix’s BTX 1801 was safe, well-tolerated, clinically effective in the Phase 2a study.
  • Health technology player Medibio has obtained a US patent for its method and system to assess mental state.

Two ASX-listed healthcare shares are trending on the ASX today following key updates related to product development.

Clinical stage synthetic cannabinoid pharmaceutical player Botanix Pharmaceuticals Limited (ASX:BOT) disclosed that Phase 2a study of BTX 1801 demonstrated that the drug was found to be safe, well-tolerated, and clinically effective. Another healthcare player Medibio Limited (ASX:MEB), disclosed that it had obtained a US patent for its method and system to assess the mental state.

Following the above announcements, BOT and MEB shares moved up on the ASX. BOT shares were trading at AU$0.084, up by 2.439%, while MEB shares were trading 14.285% higher at AU$0.008 (at AEST 11:44 AM).  

ASX 200 was up marginally today at AEST 11:45 AM, gaining 0.14% (9.60 points) to 7038.40 with some other healthcare players faring well on the ASX, including Oventus Medical Limited (ASX:OVN), up 12.903%, Total Brain Limited (ASX:TTB), up 11.11%, and Imagion Biosystems Limited (ASX:IBX), up 3.191%.

ALSO READ: ASX 200 on Tuesday: Top 5 things to watch out

Let us now quickly glance through the announcement of the two healthcare penny stocks - BOT and MEB:

BTX 1801 clinical development

ASX-listed medicinal cannabis player Botanix Pharmaceuticals has provided a clinical development update of its antimicrobial platform. The Company has identified a new indication to target the prevention of bloodstream infections in haemodialysis patients.

Botanix also disclosed that the recent data from Phase 2a study of BTX 1801 demonstrated that the drug was safe, well-tolerated, clinically effective and successful for achieving decolonisation of Staphylococcus aureus in the nose.

In the next phase, Botanix will study the nasal decolonisation of Staphylococcus aureus in patients undergoing haemodialysis treatment.

BOT’s approach facilitates a rapid clinical development pathway, with the opportunity to apply for key incentives from the Food and Drug Administration (FDA) to accelerate development and increase exclusivity.

The Company also disclosed that plans for Phase 2b clinical trials are well advanced and fully funded with existing capital reserves. BOT anticipates initiating the study in Q4 CY21.

Source: © Photonphoton | Megapixl.com

Vince Ippolito, President and Executive Chairman, commented:

Medibio boosts its IP portfolio, receives US patent

On 4 May 2021, Medibio Limited disclosed that the Company obtained a US Patent for its method and system to assess the mental state.

The Company disclosed that the patent relates to a computer-implemented process of evaluating a subject’s mental state. The mental stated is assessed by obtaining a sequence of heartbeat data samples taken overnight through pre-sleep, sleep, and post-sleep period.

This patent enhances MEB’s intellectual property also strengthens its strategic protection across the key commercial markets of the Company, including clinical, corporate and consumer.

Source: © Iqoncept | Megapixl.com

Notably, this patent grant is timely awarded. MEB is currently undertaking trials to validate its medical software (MEB-001) to identify depressive burden in patients having sleep disturbance.  MEB-001 consists of sleep staging algorithms that lead to the depressive burden analysis.

Medibio’s knowledge of the biology of depression, alongside recent technological advances in artificial intelligence (AI) as well as deep learning algorithm methodology, is bringing reliable, objective, evidence-based tools.


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