NovaBiotics secures £1m funding for COVID 19 project
Summary
This ingredient and related compounds have been safely used in medicines that treat unrelated conditions for over 30 years.Nylexa can proceed directly into phase 2 clinical studies and is currently being considered for inclusion in two, critically important, global platform trials. As a repurposed therapy which addresses a public health emergency, Nylexa is likely to continue to follow an expedited pathway to completion of its clinical development and regulatory approval for licensing as a medicine in the UK and globally.The grant from Innovate UK, which was awarded as part of UK Research and Innovations Call for ideas to address COVID-19 competition, will support NovaBiotics in completing manufacturing of the clinical trial material and preparation work for phase 2 clinical testing in hospitalised COVID-19 patients with moderate to severe disease.NovaBiotics discovered Nylexas potential benefits in COVID-19 following a decade of research as to the use of its active ingredient in difficult to treat, drug-resistant infections, including the complex chest infections and inflammation associated with cystic fibrosis (CF) lung disease. Nylexa, in contrast, targets multiple drivers of COVID-19 pathology and therefore offers a much greater chance of clinical success.Even if a vaccine becomes available, which we all hope will be the case, it will not be 100% effective or available for the entire population at the scale required for global coverage for some time, if ever. Virtually all patients, irrespective of severity, could benefit.Dr Ian Campbell, Executive Chair of Innovate UK, added: By tackling infection and inflammation at the same time, two of the primary causes of morbidity and mortality in COVID-19, Nylexa potentially offers not only greater chance of clinical success but the potential to help people return to their daily lives ultimately reducing the burden on public health and supporting broader economic recovery.Were delighted to be able to provide the support for NovaBiotics to develop this promising programme further and look forward to following the progress of studies closely.NovaBiotics Ltd www.novabiotics.co.uk is a clinical-stage biotechnology company focused on the design and development of first-in-class therapies for difficult-to-treat, medically unmet infectious diseases caused by bacteria and fungi and respiratory conditions including cystic fibrosis and COVID-19. A leading innovator in the anti-infectives space, the Companys robust technology and business model has been validated through successful development, from concept to late stage clinical development, of its most advanced product candidates.In addition to the lead Nylexa\xae programme and the Companys other late-stage assets (Lynovex\xae for cystic fibrosis, NP213/Novexatin\xae for onychomycosis), NovaBiotics has generated a robust pipeline of earlier stage, high-value drug candidates including NP339 (Department of Health and Social Care funded programme) for life threatening, drug resistant invasive fungal disease and NP432 for multi-drug resistant bacterial infections.Nylexa\xae is a novel, dual antimicrobial-immunomodulatory candidate therapy.