Paradigm Biopharmaceuticals (ASX:PAR) - CEO & Acting Chair, Paul Rennie
CEO & Acting Chair, Paul Rennie
Source: The Advertiser
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  • Paradigm Biopharmaceuticals (PAR) has entered into a new collaboration agreement with bene pharmaChem to develop the wider applications of pentosan polysulfate sodium (PPS)
  • bene is the only FDA approved manufacturer and supplier of PPS and has an exclusive supply agreement with Paradigm
  • The new deal provides for the further development of injectable PPS and other new formulations of PPS to address unmet clinical needs
  • The research and development work will be jointly funded, but Paradigm will retain exclusive commercial rights to all information and developments arising from the collaboration
  • Shares have been trading 1.9 per cent higher at $2.66

Paradigm Biopharmaceuticals (PAR) has entered into a new collaboration agreement with bene pharmaChem to develop the wider applications of pentosan polysulfate sodium (PPS).

The companies have an exclusive supply agreement, which has been in place since 2014, for bene to provide Paradigm with PPS.

In September 2020, this was extended to include all major pharmaceutical markets, new clinical indications and extended the term of supply to 25 years from marketing approval.

The new collaboration agreement provides for the partners to further develop injectable PPS and other formulations of PPS to address unmet clinical needs.

Paradigm CEO and Acting Chair Paul Rennie said the company is delighted by the new collaboration, which may also strengthen existing projects.

“Research will provide a deeper understanding of PPS and its potential to address unmet needs in new clinical indications and will help to strengthen the data package required for global marketing approval for all potential indications.”

Paradigm, a specialised drug repurposing company, is currently focussed on repurposing the semi-synthetic drug for the treatment of osteoarthritis, bone marrow lesions, chronic heart failure and alpha viral arthritis.

Paradigm and bene have established a joint steering committee to identify new projects, intended outcomes and to attribute IP ownership.

The research and development work will be jointly funded, but Paradigm will retain exclusive commercial rights to all information and developments arising from the collaboration.

“With this collaboration, we further strengthen the already solid relationship between Bene and Paradigm and reflect the confidence Bene has in Paradigm to successfully execute the current development programs for OA and MPS and implement future programs to repurpose PPS for other indications,” said bene pharmaChem co-Managing Director Dr Harald Benend.

“Bene is excited by the imminent commencement of the phase 3 program for osteoarthritis and will be assisting Paradigm in any way possible to achieve the goal of successful registration and commercialisation of Zilosul for OA,” he added,

Shares have been trading 1.9 per cent higher at $2.66 at 10:12 am AEDT.

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