ASX Health: Invex gets ready for Phase 3, Medlab gets US patent. Both jump 13pc this morning

The ASX 200 Health Index (XHJ) is up by 0.40% at the time of writing, compared to the broader index which is higher by 0.30%.

Neurology specialist, Invex Therapeutics (ASX:IXC), soared 13% after announcing that it’s about to launch a Phase 3 clinical trial of Presendin this quarter.

The trial is conducted to meet the requirements for market approval of Presendin in the EU, UK and Australia.

Invex’s lead drug Presendin has been shown to reduce the high pressure around the brain for patients with idiopathic intracranial hypertension (or IIH).

IIH is usually characterised by raised intracranial pressure, a pressure exerted by fluids inside the skull and on the brain tissue, and causes headaches and even permanent vision loss in some cases.

The primary endpoint for Phase 3 (which is titled IIH EVOLVE) will assess the difference in this intracranial pressure between patients receiving Presendin and those on placebo for 24 weeks.

The EU/UK market opportunity alone is estimated to be worth $1 billion, growing at 3.4% per annum with no current regulatory approved treatments available.

“Our aim now is to secure an early market approval for Presendin in the EU, UK and Australia, and to use the data from IIH EVOLVE to further inform the interaction with the FDA, and define fully the requirements for approval in the United States,” said Dr Jason Loveridge, chairman of Invex Therapeutics.

Invex Therapeutics share price today:

Other ASX health stocks with notable announcements

Medlab Clinical (ASX:MDC) +12.5%

Medlab rose 6% today, after revealing the US patent office has granted patent protection for MDC’s NanoCelle.

The NanoCelle technology creates water-soluble nanoparticles that optimise medicinal spray delivery to the lungs.

It’s ideal for people who have difficulties swallowing, fear needles, or experience gastrointestinal complication which can limit absorption.

Trajan Group (ASX:TRJ) -1.5%

The scientific device company has entered a binding agreement to acquire a stake in Humankind Ventures, a UK based company providing a range of at-home sampling and testing services that could potentially accelerate Trajan’s footprint in the UK.

Trajan’s founder and CEO, Stephen Tomisich, said Trajan is also currently engaged in multiple other investment and acquisition opportunities.

Kazia Therapeutics (ASX:KZA) +1%

The oncology company has commenced enrolment to a Phase I clinical trial of EVT801, an investigational cancer therapy that Kazia licensed from Evotec in April.

EVT801 is a small molecule inhibitor of VEGFR3, which is a signalling protein involved in the formation of the circulatory system and the growth of blood vessels.

The drug acts by inhibiting lymphangiogenesis, the formation of new lymphatic vessels around the tumour.

“Kazia firmly believes that EVT801 has enormous potential as a novel cancer therapy, and we look forward to working closely with the investigators to explore that potential,” said its CEO, Dr James Garner.

Star Combo Pharma (ASX:S66) +3.7%

The nutritional health company has won its largest contract ever, a $5m order to manufacture approximately 290 million bulk capsules by Q3 of FY22.

The order was received from a ‘leading Australian health supplement brand’.

Star Combo says it anticipates further orders in the future following the brand’s review of its long-term strategy.