ASX Health Stocks: Invex jumps 14pc after deal in Korea, Noxopharm gets US Patent nod
Health & Biotech
Health & Biotech
Neurology-focused company, Invex Therapeutics (ASX:IXC), jumped 14% today after signing an exclusive long term collaboration agreement with Korean-listed Peptron Inc.
Under the terms, Peptron will provide Invex with access to its intellectual property, including an extensive preclinical and clinical data package to support the commercialisation of IXC’s lead drug, Presendin.
Presendin has been shown to reduce the high pressure around the brain, and is currently liaising with the US FDA on a Phase 3 clinical trial for the treatment of idiopathic intracranial hypertension (IIH).
In return, Invex has granted Peptron an exclusive license to sell Presendin for IIH in Korea.
The deal will see the drugs being manufactured and supplied globally to Invex from Peptron’s manufacturing facility in Osong, Korea, which can produce over 48,000 vials of Presendin per month.
ImpediMed (ASX:IPD) +9.5%
The company says the inaugural SOZO Heart Failure Program has been established at the Advocate Health Care’s Heart Institute in Chicago. The Institute consists of 26 hospitals and over 500 sites of care.
SOZO meanwhile, is a noninvasive bioimpedance spectroscopy (BIS) device that could deliver a precise snapshot of fluid status and tissue composition in less than 30 seconds.
LBT Innovations (ASX:LBT) +7%
The AI-based medtech company rose after appointing US-based Thermo Fisher as a distributor for its APAS Independence device for the next five years.
Thermo Fisher is currently the leading provider of instrumentation and consumables in the United States microbiology market.
This agreement is a major milestone for LBT, and provides it with a footprint to scale sales and commercial activities in the US, the largest market that comprises over 1,500 target laboratories for the APAS device.
The APAS instrument is based upon LBT’s intelligent imaging and machine learning software and remains the only US FDA- cleared AI technology for automated imaging and interpretation of culture plates following incubation.
API has opened its books and allowed Sigma to undertake due diligence, after receiving a takeover offer of $1.57 a share.
The API Board has considered the proposal and determined that it’s superior to the proposal from Wesfarmers (ASX:WES) at $1.55 per share.
Cellmid (ASX:CDY) +7.5%
Shares in the biotech company lifted after providing an outlook guidance for FY22.
Cellmid says its store and salon sales are likely to continue to be affected in the first half of FY 22 in Australia, but will improve in the second half.
The company will also continue to monitor the situation in the US for a possible re- entry into the market.
Noxopharm (ASX:NOX) +4.5%
The company says the US Patent Office has allowed patent claims relating to the use of a combination of Veyonda and radiotherapy.
This includes external beam radiotherapy (EBRT), with the purpose of generating abscopal responses in patients with metastatic prostate cancer.
NOX says these claims are fundamental to helping secure the commercial success of the its DARRT (Direct and Abscopal Response to Radiotherapy) therapy involving a combination of Veyonda and low-dose EBRT.
Paradigm Biopharma (ASX:PAR) -4%
The company says it has received a written feedback from the US FDA in relation to its Investigation New Drug (IND) submission for pentosan polysulfate sodium (PPS) to treat pain related to knee osteoarthritis.
The FDA has one outstanding question regarding adrenal gland function related to a preclinical finding in the adrenal gland of rats, which is the ocus of the ongoing US FDA review.
“Although we understand the agency’s obligations for thorough reviews which commenced in March of this year, I am confident that the FDA and Paradigm have now attained a pathway to commence our phase 3 clinical trial in the US”, says Paradigm CEO, Paul Rennie.