ASX Health Stocks: Cynata races ahead after getting green light for diabetic foot ulcer clinical trial
Health & Biotech
Health & Biotech
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Cynata Therapeutics (ASX:CYP) shares surged 6% after the company announced that an independent review of its diabetic foot ulcer (DFU) clinical trial has been successfully completed.
The Data Safety Monitoring Board (DSMB) review has recommended that the clinical trial continue as planned.
Cynata’s DFU clinical trial is investigating the safety and early efficacy of its unique topical Cymerus mesenchymal stem cell (MSC) product, CYP-006TK, in patients with DFUs.
DFUs are chronic wounds on the feet of patients with diabetes (also known as diabetic wounds), potentially leading to serious infection and amputation.
They represent a very significant unmet medical need affecting up to 34% of diabetes patients.
MSCs meanwhile are an adult stem cell found in a wide range of human tissues, including bone marrow, adipose tissue (fat), placenta and umbilical cord blood.
They are ‘multipotent’ – which means they can produce more than one type of cell.
MSCs have been shown to facilitate regeneration and effects on the immune system without relying upon engraftment.
In other words, the MSCs themselves do not become incorporated into the host, rather they exert their effects and are then eliminated within a short period of time.
A couple of weeks ago, Cynata was given a $1m grant under the Medical Research Future Fund (MRFF) to fund the research into MSCs as a treatment for IHD (ischaemic heart disease).
Previous studies have shown that Cynata’s MSCs have multiple positive effects in a preclinical model of IHD/heart attacks.
Apiam Animal Health (ASX:AHX) announced the acquisition of Harradine & Associates, a large veterinary business located in the southwest region of Western Australia.
Total price for the acquisition was $2.6 million, comprised of 80% cash and 20% scrip.
Harradine operates two clinics – a companion animal and livestock clinic (including equine facilities) located in Bunbury, and a companion animal clinic in Dalyellup. Both are fast growing regional hub locations approximately 170km southwest of Perth.
In FY22, Harradine generated $4.4m of revenue and currently employs approximately 29 employees, including nine veterinarians.
The acquisition is consistent with Apiam’s Accelerated Growth strategy, where it intends to deliver $300 million of pro-forma revenue by FY24.
“We see strong growth potential in regional Western Australia, with opportunities to introduce new services and products into these veterinary markets,” said Dr Chris Richards, Apiam’s CEO.