- Neuroscientific Biopharmaceuticals (NSB) astounds investors this morning with the news its phase one clinical trial for EmtinB has been rejected
- The company was informed by the Human Research Ethics Committee (HREC) of the rejection, citing a lack of supporting documentation
- Neuroscientific says the decision was unexpected, especially given it was granted ethics approval for the study back in June
- The company is now taking steps to seek clarification on the rationale for the decision in an effort to proceed with the phase one trial
- Neuroscientific Biopharmaceuticals last traded at 21.5 cents on September 6
Neuroscientific Biopharmaceuticals (NSB) astounded investors this morning with the news its phase one clinical trial for EmtinB has been rejected.
The company first applied for approval from the Human Research Ethics Committee (HREC) to commence the trial on its lead drug candidate, EmtinB, back in July.
EmtinB is hoped to be a first-in-class treatment with disease-modifying potential for neurodegenerative conditions, such as multiple sclerosis and Alzheimer’s disease.
EmtinB has been modelled on a specific active domain of the complex human protein called Metallothionein-IIA, which is produced as part of the human body’s innate immune response to cell injury.
The company was informed by the HREC of the rejection, citing a lack of supporting documentation. The HREC claimed the supporting documents did not sufficiently address the risk-benefit profile to justify the conduct of the planned study.
Neuroscientific said the decision was unexpected, especially given it was granted ethics approval for the study back in June.
The company is now taking steps to seek clarification on the rationale for the decision in an effort to proceed with the phase one trial.
Neuroscientific Biopharmaceuticals last traded at 21.5 cents on September 6.