Drug developer Paradigm Biopharmaceuticals [ASX:PAR] rose more than 10% on Monday after releasing an update on its clinical program.
While PAR shares rose today, the PAR stock is up a modest 6% over the past 12 months.
Source: CommSec
Paradigm updates on MPS clinical program
Earlier Monday morning, pharmaceutical company Paradigm shared an update pertaining to Phase 2 of its MPS (mucopolysaccharidosis) clinical study program: an invitation to present its results at an International Conference on Lysosomal Diseases.
PAR explained mucopolysaccharidoses is a disorder belonging to a group of lysosomal storage diseases.
Lysosomals are ‘recycling centres’ of cells that break down ‘worn-out’ cells, and these storage diseases cause errors in the natural process that eventually lead to damage in the heart, bones, joints, respiratory, and nervous systems.
Mucopolysaccharidosis Type I is a much more aggressive type of the disease, one that is potentially fatal, and for which there is no cure.
Paradigm will be partnering with the Adelaide Women’s and Children’s Hospital and will present its results from its program in Sydney between 20 and 21 February 2023.
The company demonstrated research from its MPS-1 study earlier this year, with the initial findings having shown an indication of positive responses for pentosan polysuphate sodium (PPS) tolerance, as trialled in the company’s 48-week study.
Phase 2 of the trial has begun in Brazil, where there are some of the highest rates of MPS-VI in the world, and half the required number of participants have joined the 24-week study comparing placebos to PPS in a double-blinded randomised study.
Paradigm said that Dr Drago Bratkovic of Adelaide Women’s and Children’s Hospital will also be sharing research on potential treatments for bones and joints affected by Mucopolysaccharidosis at the Sydney conference.
Outlook for Paradigm
Paradigm reported ‘significant interest’ in its rare disease program at the Bio International Partnering conference last June.
It will be working off this basis to procure strategic partnerships that should enable its studies to be further progressed, particularly in assessing its PPS treatment.
If all goes well at this upcoming presentation in February, this could increase the company’s chances at finding the allies, and support, that it needs going forward.
Paradigm’s Global Head of Safety and Head of the program, Dr Michael Imperiale, said:
‘Current MPS therapies are essential for MPS patients, however, they don’t provide relief from the daily pain and discomfort caused by their disorders. We are very excited by the global recognition of Paradigm’s clinical development in this rare disease and the opportunity to present the exciting work we are undertaking at the International Conference on Lysosomal Diseases early next year.’
Paradigm’s CEO, Marco Polizzi, added:
‘Alongside our robust osteoarthritis clinical program, Paradigm is proud to work with specialists in the field of lysosomal storage diseases to potentially enable MPS sufferers to function more easily in their day-to-day activities. We are continuing discussions to progress the development of PPS for patients with MPS and believe that this data will contribute to planning and design for the registration of injectable PPS as an adjunctive therapeutic option for patients with MPS-I and MPS-VI.’
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