PharmAust affirms corporate strategy with name change to Neurizon Therapeutics

MELBOURNE, Australia, Oct. 16, 2024 /PRNewswire/ -- Neurizon Therapeutics Limited (ASX: NUZ) ("Neurizon" or "the Company"), a clinical-stage biotech company dedicated to advancing treatments for neurodegenerative diseases, is pleased to announce it has officially changed its name from PharmAust Limited, to Neurizon Therapeutics Limited. The name change was approved by shareholders at the Company's Annual General Meeting held on 9 October 2024. The new name has been registered with the Australian Securities and Investments Commission (ASIC).

Effective from the commencement of trading today, the Company's securities will trade as Neurizon Therapeutics Limited under the ticker "NUZ" and "NUZOA", being the fully paid ordinary shares and quoted options, respectively.

A promising horizon for patients

"The Neurizon Therapeutics name and brand align with our focus on creating a promising horizon for patients facing complex neurodegenerative diseases. Starting with Amyotrophic Lateral Sclerosis (ALS), the most common form of Motor Neurone Disease, we're committed to reshaping patient treatment and making meaningful progress in neurodegenerative research," said Neurizon Therapeutics, Chair Sergio Duchini.

Neurizon Therapeutics has a focused strategy, driven by three core strategic pillars:

1. Advancing Patient Access to ALS Treatments

Neurizon is committed to improving patient access to innovative ALS treatments. The Company has secured Orphan Drug Designation (ODD) in the United States and is awaiting a decision on ODD status in Europe, while also exploring the Special Access Scheme (SAS) in Australia. These efforts are designed to bring essential therapies directly to those in need, advancing patient access and establishing a strong foundation for delivering effective treatments worldwide.

2. Accelerating Hope through the HEALEY ALS Platform Trial

Following the acceptance of monepantel, now known as NUZ-001, into the HEALEY ALS Platform Trial, Neurizon is partnering with world-renowned neurologists and researchers to validate its potential in treating ALS. This collaboration accelerates patient access and increases Neurizon's visibility in the ALS research community, positioning the Company to expedite regulatory approvals and bring meaningful treatments to market.

3. Unlocking NUZ-001's Potential for Broader Neurodegenerative Diseases

We are actively exploring the potential of NUZ-001 to treat a range of neurodegenerative diseases. We are targeting complex and often neglected disease areas where treatment has been scarce for decades.

"With an advancing clinical-stage product, a refreshed strategy, and a dedicated team, we're truly excited to continue our journey to accelerate breakthroughs in neurodegenerative treatments. In a market projected to reach US$77.82 billion by 2029, we are well positioned to leverage a global network of neurologists coupled with our expertise to deliver groundbreaking treatments to patients," said Neurizon Therapeutics MD & CEO Dr Michael Thurn.  

"Thank you to our shareholders for their ongoing support and for sharing a commitment to this journey," concluded Duchini.

This announcement has been authorized for release by the Board of Neurizon Therapeutics Limited.

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About Neurizon Therapeutics LimitedNeurizon Therapeutics Limited (ASX: NUZ) is a clinical-stage biotechnology company dedicated to advancing treatments for neurodegenerative diseases. Neurizon is developing its lead drug candidate, NUZ-001, for the treatment of ALS, which is the most common form of motor neurone disease.  Neurizon strategy is to accelerate access to effective ALS treatments for patients, while exploring NUZ-001's potential for broader neurodegenerative applications. Through international collaborations and rigorous clinical programs, Neurizon is dedicated to creating new horizons for patients and families impacted by complex neural disorders.