Biopharmaceutical company catering to oncology and infectious diseases, Starpharma Holdings [ASX:SPL], today announced it has achieved regulatory approval for its antiviral nasal spray product, Viraleze, in Malaysia.
Now that it has achieved this latest registration milestone, Starpharma and its commercial partners will be able to market and sell its nasal product in Malaysia. This opens possibilities across 35 counties, including the UK and the rest of the European region, with registrations spanning to wider markets and a broader customer base.
The biotech saw its stock discounted by 2.5% mere hours after the announcement, with shares trading hands for 38 cents each.
In the last week, SPL has dropped more than 7% in share price value while falling 16% in the month and 49% in the past full year:
Source: tradingview.com
Viraleze hits Malaysia, the latest country to join Starpharma’s market
Reporting from Melbourne earlier on Monday morning, biopharmaceutical group Starpharma was pleased to say it has achieved regulatory approval for its antiviral nasal spray product, Viraleze, in Malaysia.
Viraleze is marketed as a nasal spray that works by physically trapping and blocking cold or respiratory viruses in the nasal cavity, and studies have found it works for various viruses, including COVID, influenza viruses, rhinoviruses, and respiratory syncytial virus.
The biotech said that this newest registration enables it and its partners to market and sell the product in the country, which has a population of more than 33 million.
Starpharma expects its launch in Malaysia to go well, with the Viraleze product already having been well received in the greater Asian region to date, following successful launches of the product locally in Vietnam, Hong Kong, and Macau.
Discussions with potential commercial partners in Malaysia are still ongoing — as well as in other parts of Asia and across the globe.
Dr Jackie Fairley, CEO of Starpharma, commented:
‘Starpharma is pleased to have added another Asian market to the growing list of countries where VIRALEZE™ nasal spray is registered, having now completed the approval process for VIRALEZE™ in Malaysia. VIRALEZE™ will be available immediately to consumers in Malaysia through an online webstore and Starpharma also plans to make the product available locally through retail outlets, including pharmacies, as it is in Vietnam, Hong Kong, Macau, U.K., and Italy. We are encouraged by the positive uptake of VIRALEZE™ in Asia and look forward to launching the product in Malaysia as soon as practicable.’
Starpharma’s virus-fighting nasal spray now has registrations covering more than 35 countries, including Europe and the UK. Its product is already available in pharmacies, retail outlets and online in certain regions.
The biotech said that it is also currently conducting a post-market clinical study of Viraleze in people with COVID.
This study will examine the antiviral activity and ability of Viraleze to reduce viral load over a seven-day period and is underway in the UK with more than 80% of the target number of participants recruited to date.
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