3 minute read
PharmAust
DR ROGER ASTON
EXECUTIVE CHAIRMAN
(ASX:PAA)
◾ Company Name: PharmAust ◾ Company ASX code: PAA ◾ Key areas: Clinical-stage biotechnology company that repurposes marketed drugs for other uses including anticancer, brain and antiviral diseases ◾ Key Personnel: Dr Roger Aston, Executive Chairman | Robert Bishop, Executive Director | Sam Wright, Finance Director ◾ Locations: Western Australia ◾ Market Cap as of 15/09/22: $25.35M ◾ 52 Week share price as of 15 September: $0.065 - $0.120 ◾ Company Website: pharmaust.com
COMPANY PROFILE
PharmAust is a clinical-stage biotech developing novel targeted cancer therapeutics for both humans and animals, specialising in repurposing marketed drugs, lowering the company’s risks and costs of development in the process.
PharmAust’s lead asset is monepantel (MPL), a repurposed drug from an animal antiparasitic, Zolvix, developed by Novartis, which blocks a receptor in parasites and kills them.
In mammals, MPL inhibits mTOR protein, which regulates metabolism – and a lower metabolism means slower growth of tumour cells and less production of misfolded proteins which cause brain disease.
By modulating metabolism, MPL does not damage the cells unlike aggressive treatment like chemotherapy, and MPL has also shown potential antiviral use by protecting against cell death from Covid-19.
PharmAust is engaged in clinical trials of three potential uses for MPL: canines with B-cell lymphatic cancer; people with motor neurone disease (MND) / Amyotrophic Lateral Sclerosis (ALS), otherwise known as Lou Gehrig’s disease; and Covid-19.
Based on the results so far, PharmAust is confident of success in these trials and progressing them to Phase 2/3 in 2023.
In the Phase 2 trial of canine lymphoma, results have shown positive outcomes and are close to meeting its endpoints.
MPL is shown to double the life expectancy of dogs with lymphoma to about five months (compared to palliative care with prednisolone alone), and with high quality of life (compared to chemotherapy which may damage organs).
MPL tablets can be taken orally daily, so they are far more accessible and a lot cheaper than chemotherapy.
As it gears up for Phase 3, PharmAust is in confidential discussions with big pharma to co-develop and commercialise MPL for canine cancer, and there’s a licensing deal in the works that will keep PharmAust fully funded for future human cancer trials.
Success in this Phase 2 canine trial allows rapid translation to human trial, creating interests from institutions in the US and EU for PharmAust to conduct trials in leukaemia, glioblastoma, oesophageal, gastrointestinal, ovarian and pancreatic cancers.
Meanwhile, the MND Phase 1 trial is currently enrolling patients. The trial is funded by Fight MND, the largest nonprofit for MND research in Australia, however PharmAust will own all the intellectual property the trial generates.
MND is an incurable, rare and fatal brain disease. PharmAust is working towards determining if MPL can inhibit misfolded protein production, extending the life of patients and decreasing symptoms such as memory loss.
PharmAust will take the Phase 1 pharmacokinetic (PK) data from the MND trial for the Covid-19 trial, enabling it to go straight into a Phase 2 trial in Covid-19 instead of Phase 1.
The Covid-19 trial will determine the efficacy of MPL’s antiviral effect, aiming to add to the very small number of approved antiviral drugs in the market for the virus.
PharmAust says it is progressing well on all three fronts, and as results start coming in the next 12 months, commercialisation potentials will become more apparent – and commercialisation success in just one area would be a gamechanger for PharmAust.
The company is led by executive chairman Dr Roger Aston, who brings more than 20 years’ experience in pharmaceutical and healthcare industries in the UK, Asia Pacific and Australia. Prior to PharmAust, he has had experience on boards and as CEO of many biotechnology companies.
KEY INVESTMENT HIGHLIGHTS
NOVEMBER 17, 2021: Phase 1 Covid-19 trial successfully completed primary diligence on potential trial sites with six centres expressing interest. APRIL 8, 2022: Received first installment from FightMND amounting to $201,615 to commence Phase 1 trial of motor neurone disease (MND). AUGUST 17, 2022: Canine cancer trial Phase 2 indicates a combination of MPL and standard of care can more than double the life expectancy of dogs with lymphoma.