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Paradigm Biopharmaceuticals (ASX:PAR) has activated its first Australian clinical site as part of a Phase Three trial to assess injectable pentosan polysulfate sodium for the treatment of pain connected to knee osteoarthritis.
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The site will be located at Sportsmed Biologic in Melbourne, and directed by specialist sports physician Dr Phillip Bloom, who has more than two decades of clinical experience in osteoarthritis management.
This will be the first of 11 Australian sites earmarked for participation in the PARA_OA_012 study. Paradigm has also received informed consent from its first Australian patient, who will take part in the trial.
Alongside the Oz component, there will also be 48 sites in the States that are currently in advanced preparations for activation under the centralised ethics approval.
Managing director Paul Rennie said these were significant milestones for the Paradigm.
“The activation of our first site in Australia and the consenting of our first patients in Australia, with the US soon to follow, mark a significant operational achievement for the company,” Mr Rennie said.
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He continued: “I am particularly pleased to see the high level of engagement from leading clinical investigators and trial sites.
“I am also pleased that the company is progressing in line with our intended schedule.”
PAR has been trading at 30.5 cents.
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