Perth listed biotech company PharmAust will reformulate its promising anti-cancer drug known as “Monepantel” for future clinical studies by partnering with Canadian-based organization, BRI Pharmaceutical Research.
In a market update on Tuesday, PharmAust said it had engaged BRI to optimise Monepantel to ensure the drug meets stringent requirements for scaled manufacture, late-stage clinical trials and registration.
Monepantel, or MPL as it is often known, has already received positive outcomes in its first phase of clinical trials and PharmAust is confident that further research could lead to a new anti-cancer drug that it wholly owns.
By engaging BRI, PharmAust is aiming to tweak the current formulation of Monepantel to improve its taste and palatability so that it can be more efficiently delivered into the blood stream of both canines and humans.
PharmAust chief executive Richard Hopkins said: “We’re really excited to be working with BRI who have an impressive track record in successfully reformulating drugs for clinical development.”
“Within six months we expect to have a reformulated product amenable to scaled manufacture and fully optimised for clinical trials in dogs and humans. Clearly successful delivery of a reformulation product will open up significant commercial opportunities for the company.”
Tuesday’s announcement comes as PharmAust works to secure its IP in key markets around the world in readiness for commercialisation of the promising drug. PharmAust recently secured patents related to the drug in numerous potentially lucrative markets, including Japan, China and Europe.
The company’s first phase of Monepantel trials showed positive outcomes for patients on solid cancerous tumours that had failed to respond to conventional chemotherapy, according to management.
By Matt Birney
