PharmAust (ASX:PAA) doses first patient in MND trial

• PharmAust (PAA) doses its first patient in a phase one/two trial to test the effects of its monepantel drug in individuals living with motor neurone disease
• The trial looks to test the safety and tolerability of MPL in patients living with the disease, along with signs it can slow the progression of MND
• The data from the study, along with concurrent animal studies, will determine whether the company will proceed with MPL to a larger phase two study
• PharmAust is down 2.67 per cent and trading at 7.3 cents at 2:25 pm AEDT

PharmAust (PAA) has dosed its first patient in a phase one/two trial to test the effects of its monepantel (MPL) drug in individuals living with motor neurone disease (MND).

The trial looks to test the safety and tolerability of monepantel in patients living with MND. Additionally, it will look for signs that MPL can slow the progression of MND.

The data from the study, along with concurrent animal studies, will determine whether the company will proceed with MPL to a larger phase two study.

Meanwhile, the company has also received ethics approval to make amendments to the clinical study protocol to refine the study design and accelerate recruitment.  

The study will be funded through a funding agreement with FightMND, the largest independent funder of MND research in Australia.

A third instalment of $173,034.80 is now payable upon recruitment of the first patient. Further instalments for a total of $881,085 will be paid by FightMND to PharmAust as clinical trial milestones are met.

Through the funding agreement, PharmAust will retain all intellectual property generated from the trial.

PharmAust was down 2.67 per cent and trading at 7.3 cents at 2:25 pm AEDT.