ASX Health Stocks: Ramsay Healthcare up 7pc as its looks to sell joint Asian Venture

Ramsay Healthcare rises after announcing it is looking to sell its joint Asian venture
Neuren announces first US site for its Phase 2 clinical trial for Prader-Willi syndrome
Microba starts Phase 1 clinical trial for IBD Therapeutic for ulcerative colitis treatment

Ramsay rises as it explores sale of joint Asian venture

Ramsay Health Care (ASX:RHC) is up ~7% today after flagging the sale of its joint venture in Asia.

RHC said together with its partner Sime Darby Berhad (Sime Darby), a decision has been made to explore selling its 50:50 joint venture in Asia, Ramsay Sime Darby Health Care (RSD).

“The decision has been reached following the receipt of significant inbound interest in RSD at values that are in shareholders’ interests to explore, noting that there is no certainty that a sale process will result in a completed transaction,” it said.

RHC said RSD has continued to perform strongly in FY23.

“The equity accounted contribution from the business for the 9 months to 31st March 2023 was $16.2m, an increase of 31.7% on the prior corresponding period.”

“RSD’s commitment to delivering exceptional healthcare services was recognised in the recent 2023 GlobalHealth Asia-Pacific Awards with the business winning 10 awards including Stand-out Jury Hospital of the Year in Asia Pacific for its flagship Malaysian hospital Subang Jaya Medical Centre.”

Neuren opens first site in US for Prader-Willi syndrome Phase 2 trial

Neuren Pharmaceuticals (ASX:NEU) has announced that the first US site for its Phase 2 clinical trial of NNZ-2591 in Prader-Willi syndrome is now open.

The open label Phase 2 trial in up to 20 children aged 4 to 12 years at US clinical sites is examining safety, tolerability, pharmacokinetics and efficacy over 13 weeks of treatment with NNZ2591.

The primary outcome measures are safety and tolerability, including the incidence, severity and frequency of adverse events, as well as measures of standard pharmacokinetic parameters.

Secondary outcome measures include a range of efficacy measures, completed by clinicians and caregivers.

NEU said Prader-Willi syndrome (PWS) is a highly debilitating neurodevelopmental disorder, caused by defects in the 15q11-q13 region of chromosome 15. The estimated incidence is 1 in 10,000–30,000 males and females across all races and ethnicities.

“We are eager to assess the potential impact of NNZ-2591, having observed highly encouraging effects in the pre-clinical model,” CEO Jon Pilcher said.

Clarity up 4% after establishing US Center of Excellence

Clarity Pharmaceuticals (ASX:CU6), a clinical-stage radiopharmaceutical company developing next-generation products that improve treatment outcomes for children and adults with cancer, has established a Center of Excellence at the Idaho Accelerator Center (IAC), a research facility operated by Idaho State University (ISU), for Targeted Copper Theranostics (TCTs).

CU6 said IAC is a unique research facility operated by ISU located in southeast Idaho, US. It is the result of the Nuclear Science Application Project, providing opportunities for scientists and engineers from the University, the private sector and the national laboratories to utilise specialised nuclear facilities.

The company said it is establishing the Center of Excellence at the IAC to advance research and development (R&D) of TCTs close to a source of copper-67 (Cu-67 or 67Cu) production.

CU6 said the investment will enable the company to efficiently execute several strategically important projects, support commercial readiness of products currently in clinical development and enable the expansion of TCTs as a platform uniquely positioned to take the radiopharmaceutical sector into large global markets.

Microba Commences Phase 1 Clinical Trial for IBD Therapeutic

Microba Life Sciences (ASX:MAP)has announced the first participants have been successfully dosed in the Phase 1 Clinical Trial of MAP 315, in its Therapeutic Program in Inflammatory Bowel Disease (IBD).

MAP said the milestone brings its drug candidate MAP 315 into clinical development as a potential new treatment option for the millions of people suffering from ulcerative colitis.

The company said MAP 315 was identified using analysis of its large proprietary human databank, demonstrating that the previously uncharacterised and novel bacterial species is commonly observed in healthy individuals but consistently deficient in individuals with IBD.

MAP said subsequent pre-clinical investigation of MAP 315 through both in vitro and in vivo models demonstrated it promotes epithelial restitution and mucosal healing – biological activities that are critical for sustained disease remission but not adequately addressed through existing therapy.

The study will enroll two cohorts of 16 participants each, who will be randomised 3:1 to receive MAP 315 or its matching placebo for 14 consecutive days.