There is yet more hope for Alzheimer’s sufferers as biopharma solutions continue to make their way onto the ASX for funding and wider recognition.
Pharmaceutical company NeuroScientific Biopharmaceuticals (ASX: NSB) has listed on the ASX with its admission confirmed earlier this week.
Its shares will be welcomed to Australia’s leading exchange today with trading expected to kick-off at around A$0.20 per share.
NeuroScientific has raised A$6 million and will issue 30 million shares with the major shareholder being McRae Technology, which owns around 34% in total.
The company’s current research and development program is focused on advancing a treatment for stroke-related brain injury and dementia and a diagnostic for early-stage Alzheimer’s disease.
Neurological market making
To date, the company has developed diagnostic and therapeutic treatments for neurogenerative diseases and is currently progressing with two lead peptide candidates.
The so-called “EmtinB therapeutic peptide” is being developed as a treatment for neurodegenerative dementia and Alzheimer’s disease, as well as degenerative conditions of the optic nerve. Meanwhile, its other candidate, the 15mS.A. diagnostic peptide, is being developed as a diagnostic imaging agent for early-stage Alzheimer’s disease.
To better explain how its peptides work in practice, NeuroScientific has also created a video going into the specifics of its technology:
The company has already completed lead optimisation and is now looking into conducting animal efficacy studies in Q3 2018 for EmtinB before moving onto safety and toxicology studies next year. NeuroScientific said that it anticipates moving into phase 1a and 1b trials sometime in Q2 2019 as part of its clinical phase before final approval and market commercialisation.
The peptides being developed have the potential to a be a “breakthrough class” of drugs that have a dual purpose: to arrest the progression of neurodegenerative disease and stimulate regeneration of damaged cells in tandem.
So far, NeuroScientific has demonstrated this potential in a mouse model where the optic nerve was severed and then regenerated following the introduction of a protein from which its lead peptide is derived.
“The company’s current R&D program is focused on developing a treatment for stroke-related brain injury and dementia / Alzheimer’s disease, and a diagnostic for early-stage Alzheimer’s disease,” said Brian Leedman, non-executive chairman at NeuroScientific Biopharmaceuticals.
“The funds raised will allow us to accelerate the development of EmtinB into phase 1 human clinical studies and expand the compound’s treatment indication into other neurodegenerative conditions,” said Mr Leedman.
Last year, NeuroScientific recorded a loss of around A$260,000 but says it will seek to generate revenue through commercial arrangements with a global pharmaceutical company at the completion of the planned clinical trials. This could potentially entail the company receiving upfront licensing fees, milestone payments and royalties on future sales of EmtinB.
With its shares set to debut on the ASX today, market analysts are keen to gauge investor sentiment towards a stock that significantly bolsters the Australia small cap biotech sector.