- SUDA Pharmaceuticals Limited (ASX:SUD) is anticipated to make significant progress in its product pipeline in 2021.
- The healthcare company plans to secure new technologies that fit within its current areas of focus.
- SUDA also intends to continue with the commercialisation of ZolpiMist® and advance the development of anagrelide during the year.
SUDA Pharmaceuticals Limited (ASX:SUD) had a number of positive events in 2020, achieving several significant milestones with regards to anagrelide and ZolpiMist® projects. Moreover, the Australian healthcare company opportunistically reviewed other assets, rebuilt investor confidence, and improved shareholder communications during the year.
As SUDA marks its entry into 2021, the Company is expected to make further progress in its product pipeline while building its presence in current focus areas and executing on the significant programs.
With that said, let us take a deep dive into SUDA’s areas of interest for 2021:
Source, Evaluate and Acquire New Technologies
SUDA intends to continue with its efforts to secure new technologies in the future, which are expected to be developed internally. The Company plans to obtain technologies that fit within its current focus areas (oncology and central nervous system) to expand its existing portfolio.
Interestingly, SUDA’s leadership team holds extensive experience in acquiring, sourcing, and evaluating new technologies. Preliminary searches have identified several interesting technologies that the Company believes could enhance its present portfolio of products.
At present, SUDA is utilising its exclusive OroMist® technology to aadd value to a number of existing drugs.. With OroMist®, the Company is reformulating existing billion-dollar drugs for oral delivery, which can provide a faster path to market, which can create sizeable cost and time savings.
The OroMist® technology enables SUDA to develop low-risk oral sprays, which offer substantial advantages over pills or tablets.
SUDA is continuing discussions with pharmaceutical companies to commercialise ZolpiMist® in different territories.
The Company is in the process of selecting its Australian partner to commercialise the product after the receipt of TGA (Therapeutics Goods Administration) approval last year. SUDA considers the TGA approval as a significant event that has occurred in the history of the Company.
Notably, SUDA will continue working with its existing partners – Teva, Mitsubishi Tanabe Pharma Korea and Mitsubishi Tanabe Pharma Singapore – to help with their regulatory submissions and commercialisation efforts concerning ZolpiMist®.
Anagrelide Formulation Stabilisation and Preclinical Studies
SUDA is deliberately progressing with the development of anagrelide as it believes a significant amount of value can be created by taking this program further along the development pathway. The Company is continuing with the optimisation of the anagrelide formulation in order to produce a pharmaceutical grade product.
It is worth noting that SUDA has received positive results from pre-clinical animal trials on anagrelide. The results indicated that an oral spray form of anagrelide could lower patients’ exposure to the cardiostimulatory intermediate, curbing unwanted side effects.
SUDA plans to complete the pre-clinical toxicology studies before embarking on clinical trials for anagrelide.
In addition to these fields of activity, SUDA also intends to manage costs, maintain shareholder communications, and focus on investor confidence in 2021. To attain its objectives, the Company recently announced a $2.76 million capital raising, strengthening its financial position. Consequently, the Company’s cash balance should allow the company to proceed with its development program for the next 12 months.
SUDA shares are trading at $0.042 as at 11:00 AM AEDT.