Total
0
Shares
Patrys (ASX:PAB) - CEO and Managing Director, Dr James Campbell - The Market Herald
CEO and Managing Director, Dr James Campbell
Source: Patrys Limited
Market Herald logo

Subscribe

Be the first with the news that moves the market
  • Patrys (PAB) postpones its planned PAT-DX1 clinical trial for up to six months due to global manufacturing and supply chain delays
  • Toxicology studies and ethics submission for the company's cancer antibody candidate have been pushed back to Q1 CY22 and H2 CY22, respectively
  • Patrys attributed the delays entirely to COVID-induced supply chain issues
  • Patrys Chief Executive Officer and Managing Director Dr James Campbell says the delays are disappointing for its team and shareholders
  • Patrys shares are down 16.3 per cent to trade at 4.1 cents at 11:59 am AEST

Patrys' (PAB) planned PAT-DX1 clinical trial will be postponed for up to six months due to global manufacturing and supply chain delays.

The company notified investors its manufacturer was anticipating delays in securing components used for PAT-DX1 production, Patrys' cancer antibody candidate.

As a result of the delays, Patrys has pushed back the engineering run for PAT-DX1 to the end of this year and toxicology studies to the first quarter of 2022.

A submission for human research ethics application for a phase one clinical trial is now expected in the second half of 2022.

Patrys attributed the delays entirely to COVID-19 impacts on global reagent production — a substance or compound typically used in tests to determine a level of reaction — and supply chain issues.

The ASX-lister reiterated these delays were beyond Patrys' and its contract manufacturer's control.

The company is also unable to seek out alternative suppliers due to the proprietary nature of said reagents .

Patrys Chief Executive Officer and Managing Director Dr James Campbell said the delays were disappointing for its team and shareholders.

"This delay is based solely on global supply chains, not technical obstacles, and highlights the many ways that the COVID-19 pandemic is impacting on our lives, including disrupting the production of critical medical products and services," he said.

"We continue to work with our global suppliers to prepare for and initiate the first
PAT-DX1 clinical trial in late 2022."

Planning for the campaign commenced over 12 months prior.

Patrys shares were down 16.3 per cent at 11:59 am AEST to trade at 4.1 cents.

PAB by the numbers
More From The Market Herald
ImpediMed (ASX:IPD) - MD and CEO, Richard Carreon - The Market Herald

" ImpediMed (ASX:IPD) initiates SOZO heart failure program

ImpediMed (IPD) has initiated its SOZO heart failure program at Advocate Health Care’s Heart Institute in Chicago.    
Invex Therapeutics (ASX:IXC) - Chairman, Jason Loveridge - The Market Herald

" Invex Therapeutics (ASX:IXC) pens agreement for commercialisation of Presedin

Invex Therapeutics (IXC) has signed an agreement for the commercialisation of its treatment for neurological conditions caused by intracranial pressure.
LBT Innovations (ASX:LBT) - CEO and MD, Brent Barnes - The Market Herald

" LBT Innovations (ASX:LBT) subsidiary appoints US distributor

LBT Innovations (LBT) 50 per cent owned joint venture company, Clever Culture System (CCS), has appointed Thermo Fisher Scientific as its US distributor.
Paradigm Biopharmaceuticals (ASX:PAR) - Chief Medical Officer and Executive Director, Dr Donna Skerrett - The Market Herald

" Paradigm Biopharma (ASX:PAR) receives FDA feedback for knee osteoarthritis drug

Paradigm Biopharmaceuticals (PAR) has received feedback from US Food and Drug Administration (FDA) for its knee osteoarthritis drug.