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Open Orphan hails early progress on respiratory virus prophylactic
StockMarketWire.com
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Pharmaceutical services group Open Orphan said 63%-owned drug development company PrEP Biopharm had completed a 12-week toxicology study for a novel pan-viral prophylactic asset.
The animal model study provided safety data needed to move the asset, PrEP-001, into longer duration dosing in clinical studies.
PrEP Biopharm was planning to move forward with a real-world, field trial to validate efficacy against all circulating respiratory viruses, including Covid-19, influenza and the common cold.
Open Orphan attained its stake in PrEP Biopharm when it acquired hVIVO and had since expressed a desire to divest non-core assets including PrEP Biopharm.
However, it said it intended to 'work with the PrEP Biopharm management team to secure other sources of funding outside of the Open Orphan group while maximising the potential of these non-core assets'.
Executive chairman Cathal Friel said progress at PrEP Biopharm was encouraging.
'This safety data allows them to move into Phase 2b field studies and we are very excited that PrEP-001 could play a meaningful role in the current Covid-19 pandemic and future potential pandemics caused by new respiratory viruses.'
Story provided by StockMarketWire.com
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