$1.45M Grant to Hudson Institute for Collaboration with Noxopharm
- Written by: NewsServices.com
Innovative biotech company Noxopharm Limited (ASX:NOX) is pleased to announce that the Victorian Government has granted A$1.45M to Noxopharm collaborator, Hudson Institute of Medical Research, to fund the joint development program of novel anti-inflammatory compounds. Noxopharm’s wholly-owned subsidiary, Victoria-registered Pharmorage Pty Ltd, is named on the grant as the collaborator that will design and synthetise the compounds with the view of commercialising any promising drug candidates generated by the research.
The research aims to identify novel drug compounds that dampen harmful excessive inflammation associated with COVID-19 infection. Should any identified drug candidates show promise of broader inflammatory indications it is anticipated that Noxopharm will investigate their commercial and scientific potential.
Reducing excessive inflammation during COVID-19 infection is a critical part of limiting virus[1]associated hospitalisations, intensive care admissions, and deaths. In addition, mounting evidence suggests that chronic inflammation underpins post-infectious syndromes associated with long-COVID, which may impact as many as 60% of COVID-19 patients.1 Therefore, this research aims to fast-track the therapeutic development of new, targeted therapies to help manage both acute and chronic inflammation.
Noxopharm CEO Dr Gisela Mautner, said: “Noxopharm has built a network of collaborators spanning world-renowned academic and government institutions, including Hudson Institute. We are excited the collaboration with Hudson Institute is attracting this level of non-dilutive funding. We look forward to progressing our work in inflammatory diseases with them.” The research is set to commence shortly and will continue for approximately two years. Noxopharm will continue to keep the market informed as this work progresses.
1 Blomberg, B., Mohn, K.GI., Brokstad, K.A. et al. Long COVID in a prospective cohort of home-isolated patients. Nat Med 27, 1607–1613 (2021). https://doi.org/10.1038/s41591-021-01433-3
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