Some of the proceeds of the fundraising were used to acquire the Business and Assets of
CDX's patent-pending technology consists of a series of biomarker assays which can uniquely determine the presence of the misfolded proteins which are the hallmarks of Alzheimer's, together with an apheresis technology which can cleanse the blood of affected patients by removing these proteins. These technologies are highly synergistic with Pharmakure's patented treatment for Alzheimer's disease by deploying repurposed, previously-approved drugs. Pharmakure plans to use the unique biomarker tests from CDX to screen its clinical trial candidates for the disease-causing proteins and then to test their drug on those blood samples. If the outcome yields a reduction in these proteins, then Pharmakure will be able to proceed with trials using those patients with the advance knowledge that the drugs will likely achieve the targeted therapeutic outcome. Such a predictable therapeutic result combined with the fact that the existing proven safety profile of the drugs dramatically increases the prospects of receiving regulatory approval for Pharmakure's drug candidates.
Dr.
Pharmakure will now proceed with its plan to list on the Canadian Securities Exchange following a reverse merger into a Canadian reporting issuer.
Subject to successful listing on the CSE, an institutional investor has committed to provide funding of up to CA$26m (dependent on the volume of trading in Pharmakure's shares after listing) in order to finance Pharmakure's Alzheimer Phase II Clinical Trials and to progress Pharmakure's other pipeline drugs.
In the event that Pharmakure's Phase II Clinical Trials succeed it is expected that the value of Pharmakure would increase significantly. Completion of Phase II trials is a major inflection point, which often leads to significant out-licensing deals with large Pharmaceutical firms.
About Pharmakure
Pharmakure was founded in 2012 as a spin out from the
The biotech company is a specialist in drug repurposing with focus on diseases of the Central Nervous System ('CNS'), and has a three-pronged business model.
The first part is to run Phase II clinical trials leading to an out-licensing deal. The lead candidate, PK 051, is a reformulation of two approved drugs targeting toxic b-amyloid oligomers (aggregates), a characteristic hallmark of 'plaques' in the brains of patients. In vitro and cell studies have shown that the drugs synergistically act as protein dis-aggregators. Pre-clinical studies using the combined drugs in an Alzheimer's mice model demonstrated a reduction in plaques by 40%. Because these two drugs are already approved, the company plans to move directly to Phase IIa/b trials in 2021 with a target to negotiate an out-licensing deal upon completion.
Second, the proprietary SSV technology (Screen-Select-Validate) created by the company is the engine to search for and develop new therapies from approved drugs to build out the pipeline, patent them, and then take them into fast-track clinical trials.
The third element of the business model is wrapped around the use and commercialisation of proprietary blood-based biomarkers which can identify and screen patients for early diagnosis.
Dr
Pharmakure's Chairman, Dr
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