ASX Health Stocks: Patrys wins fresh grant, IDT does not and Next Science is off to sell stuff in Canada
Health & Biotech
Health & Biotech
Cancer fighter Patrys (ASX: PAB) has received a new $100k research grant to progress lead drug deoxymabs in treating Metastatic Breast Cancer (MBS).
The company announced that the Olivia Newton-John Cancer Research Institute (ONJCRI) has been awarded the $100k Victorian Medical Research Acceleration Fund (VMRAF) grant from the Victorian State Government.
The grant is aimed to support a collaborative research program between Patrys and the ONJCRI who are currently conducting research into the potential to incorporate Patry’s PAT-DX1 and PAT-DX3 as new treatments for MBS.
The program is specifically evaluating the ability of PAT-DX1 (a deoxymab antibody fragment) and PAT-DX3 (a full-sized, humanised IgG deoxymab antibody) to control tumour growth and metastasis in preclinical models of breast cancer.
It will also evaluate the use of PAT- DX1 and PAT-DX3 in combination with DNA damaging agents such as radiation and chemotherapy for treating animal models of human triple negative breast cancer (TNBC).
This is the second grant Patrys and ONJCRI have been awarded to support the development efforts of PAT-DX1.
In July 2020, both were awarded a $50,000 Federal Government grant through the Entrepreneur’s Programme Innovation Connections scheme.
“We know from the success of the PARP inhibitor drugs that DNA damage repair is the Archilles heal for some cancers,” said Professor Robin Anderson of ONJCRI, who will be leading the program.
“We look forward to exploring if Patrys’ deoxymab antibodies are able to block DNA damage repair in breast cancer, and could consequently provide a new therapeutic approach.”
Next Science (ASX:NXS) announced that Health Canada has given licensing approval for XPERIENCE , the company’s advanced irrigation product, to be sold in Canada effective immediately.
XPERIENCE is a breakthrough no rinse antimicrobial solution, designed to help prevent infections including surgical site and post-operative infections.
Studies have found that XPERIENCE produced minimal cytotoxic effects to human tissue, allowing the solution to remain in the body without need for subsequent rinse.
There were more than a million surgical procedures performed in Canada annually, and in 2020/2021, there were over 110,000 hip and knee surgeries completed in Canada with more than 50,000 orthopaedic trauma surgeries.
With the license approved, NXS now plans to launch XPERIENCE in the Canadian market immediately.
Initially, the company will focus on building a sales agent distribution network, and will commence a major randomised control study which will compare XPERIENCE against current standard of care.
The principal investigator for this study has been engaged, and is based out of the University of Ottawa.
“We are thrilled to see this licence come through, and can now move to both commercial and clinical research activity in Canada,” said CEO, Judith Mitchell.
IDT Australia(ASX:IDT) tumbled 11% this morning after announcing that the Australian Government rejected the company’s submission to the Manufacturing Translation Stream Medical Products Round 2 program.
Late last year, IDT successfully manufactured Australia’s first cGMP mRNA finished product, making IDT the only company in Australia with demonstrated capability in this regard.
This application was meant to fund equipment to expand IDT’s current capabilities upstream, so that it can manufacture the mRNA materials required to continue manufacturing.
“We are disappointed in the outcome of the MMI Translation Stream Round 2 process, having been encouraged to submit an application in January this year,” said IDT’s CEO, Dr David Sparling.
IDT says it will remain in active discussions with Federal and State Governments’ regarding a range of sovereign manufacturing initiatives.