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Prescient Therapeutics (ASX:PTX) - CEO & Managing Director, Steven Yatomi-Clarke - The Market Herald
CEO & Managing Director, Steven Yatomi
Source: The Australian
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  • Two of Prescient Therapeutics' (PTX) assets have been handpicked for a COVID-19 antiviral testing program
  • The trial, run by the renowned Doherty Institute, will take place in two phases — encompassing a test-tube experiment and a study in small animals
  • The institute's study will assess the effectiveness of a wide variety of formulations against COVID-19
  • Significantly, both of Prescient's assets were classed as group one candidates — meaning they have "the highest or strong likelihood of antiviral efficacy"
  • To support the trial, Prescient will provide $70,000 in funding, while any intellectual property from the study will be protected by patents
  • Initial results from the program are expected around September and October
  • Prescient shares have jumped 15.5 per cent today, trading for 6.7 cents per share

Two of Prescient Therapeutics' (PTX) assets have been handpicked for a COVID-19 antiviral testing program.

The trial, run by the renowned Doherty Institute, will take place in two phases — encompassing a test-tube experiment and a study in small animals.

The institute's study will assess the effectiveness of a wide variety of formulations against COVID-19. Significantly, both of Prescient's assets were classed as group one candidates — meaning they have "the highest or strong likelihood of antiviral efficacy."

The Doherty Institute, formed from a joint venture between the University of Melbourne and the Royal Melbourne Hospital, specialises in "the prevention, treatment and cure of infectious diseases." Interestingly, the institute was the first outside of China to develop the SARS-CoV-2 strain in cell culture and bring it to other laboratories in the fight against COVID-19.

“While we remain totally focused on advancing our promising anti-cancer clinical pipeline, we are delighted that two of our assets have been selected for this important national effort by some of the world’s leading medical researchers to help address this urgent global health emergency,” Prescient CEO Steven Yatomi-Clarke stated.

To support the trial, Prescient will provide $70,000 in funding, while any intellectual property from the study will be protected by patents. Initial results from the program are expected around September and October.

Prescient shares have jumped 15.5 per cent today, trading for 6.7 cents per share at market close.

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