Wound care biotech Factor Therapeutics says it has treated 95 per cent of the patients in the latest phase of its clinical venous leg ulcer trial.

The study is designed to test Factor’s (ASX:FTT) drug “VF001” for leg wounds that don’t heal due to underlying vein problems.

Factor’s shares gained 2 per cent to 5.1c in early Friday trade, valuing the company at about $42 million.

Venous leg ulcers (or “VLUs”) affecting up to 3 per cent of the community and are caused by poor circulation due to blood clots, ageing, injury or obesity.

They are notoriously difficult to treat, with wounds on average recurring four times.

VF001 is a liquid treatment applied to the wound in a small volume in routine weekly dressing changes. It contains a protein that binds to the base of the wound, creating a biological scaffold on which skin cells can attach.

The trial recruited 156 patients. So far, signs have been promising, with VF001 treatment reducing wound area in the first four weeks, and a reduction of the ulcer area of around 70pc by week 12.

Factor Therapeutics (ASX:FTT) over the past year.

Dr Ros Wilson, Factor’s chief, told investors today there were only eight patients left to treat. “Since finalising recruitment in July the study has progressed to schedule,” she said.

“We expect the last patient to have their final treatment visit in the first week of October, a key milestone for the study as it then triggers a final round of data cleaning and quality checks before top-line results can be analysed in November.”

Recruitment was completed rapidly, pleasing Dr Wilson, who told Stockhead back in June that awareness of venous leg ulcers was a “massive problem”.

Meanwhile, the company says it is rapidly progressing partnering discussions as well as Phase III discussions with the FDA in the United States.