- PharmAust invited to apply for up to $1.8m grant funding from FightMND
- Funding would be applied to company’s Phase 2 study of its drug to treat motor neurone disease and amyotrophic lateral sclerosis
- Successful grant applications will be notified by July 2024
Special Report: FightMND, Australia’s leading not-for-profit foundation for motor neurone disease research, has invited PharmAust to submit a full grant application to help cover costs of its planned Phase 2 study due to begin in H1 2024.
The company’s planned Phase 2/3 study is a multicentre, randomised, placebo-controlled, adaptive clinical study evaluating the safety and efficacy of its monepantel (MPL) treatment in patients with Motor Neurone Disease/Amyotrophic Lateral Sclerosis (MND/ALS) over 48 weeks.
The primary aim will be to evaluate the efficacy of MPL, as compared to placebo, on MND/ALS disease progression.
Earlier this month, PharmAust (ASX:PAA) submitted a letter of intent to FightMND in response to their call for clinical study proposals aimed at academic-industry partnerships –including but not limited to – pharmaceutical, bio-therapeutic/biotechnology companies, academic institutions and universities, hospitals, and MND researchers throughout the world.
Up to $1.8m could be on the table
Up to $1.8 million in support from FightMND is available per grant – and a successful application could play a key role in PAA’s development of the monepantel drug.
“Gaining access to undiluted funds to help offset the costs of drug development is a goal of every biotechnology company,” PAA CEO Dr Michael Thurn said.
“FightMND has already been influential to date in the development of monepantel for MND/ALS by fully funding our initial Phase 1 study.
“Based on the potential shown to date for monepantel to provide patients with MND/ALS with a treatment benefit, we are excited at our prospects of securing further funding from FightMND for our adaptive Phase 2/3 study.”
Applications for grant funding are due by the 24 March 2024, with successful recipients to be notified in July 2024.
This article was developed in collaboration with PharmAust, a Stockhead advertiser at the time of publishing.
This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.