Pharmaxis Ltd’s (ASX:PXS) drug discovery team comprises a team of experienced scientists who have been working on two lead candidates that inhibit the fibrotic enzyme LOXL2.
After extensive pre‐clinical testing these compounds were deemed fit to go into human clinical development.
The initial findings from the single ascending dose (SAD) stage were revealed during the June quarter and are noteworthy.
READ: Pharmaxis phase I trial attracts interest from multiple pharmaceutical companies
So far both drugs have good safety profiles, behave in a predictable fashion as the dose is increased and, most importantly, achieved a significant and long-lasting inhibition of the target enzyme which positions them as best in class drugs.
This differentiates them from the competition of other small molecule drugs and antibodies which have failed to demonstrate this same essential feature.
Progress can be slow but not for Pharmaxis
Pharmaxis’ CEO Gary Phillips said: “There are times in the life of a research-based company when progress can be slow; waiting for late phase clinical studies to recruit patients is but one example.
“However, this last quarter at Pharmaxis has been the exact opposite.
“We have data from the phase I studies in our LOXL2 program coming at us daily, ongoing discussions with multiple interested companies in that program further energised at the June BIO partnering conference, and turning points in some programs within our pre‐clinical pipeline that suggest great things to come.”
Early results attracting interest
The good inhibition of the enzymatic activity for 24 hours after a single dose made for interesting discussions held with potential partners at BIO 2018 in Boston last month.
Pharmaxis has previously shown it can execute on deals with big pharmaceutical companies and has seen an increase in the number of companies and level of interest shown as it progresses its LOXL 2 program.