Paradigm Biopharmaceuticals (ASX:PAR) has announced the acquisition of Proteobioactives, a company founded by Professor Peter Ghosh and based on his pioneering research into pentosan polysulfate sodium (PPS).
The acquisition includes a payment of $500,000 and potential milestones based on the successful completion of clinical trials, registration and commercial sales.
Through this acquisition, Paradigm obtains exclusive global rights to develop and commercialise a patented oral combination of PPS and a COX-2 inhibitor for the treatment of pain and inflammation.
The company stated that the acquisition expands its osteoarthritis (OA) pipeline beyond its current injectable PPS (iPPS) Phase 3 program for moderate to severe disease, enabling potential expansion into earlier-stage disease segments where significant unmet needs remain.
Paradigm said it will acquire all relevant intellectual property through the acquisition of Proteobioactives, including the granted global patent, formulation know-how, and exclusive rights to the Pentacoxib product.
Paradigm managing director Paul Rennie said, “Our immediate focus remains on the successful execution of our ongoing Phase 3 clinical trial for injectable PPS in knee osteoarthritis. The acquisition of this oral combination IP allows us to broaden our long-term strategy. We anticipate initial development activities will concentrate on the veterinary field, where there is a clear and timely opportunity. Importantly, through this veterinary development program, we expect to generate valuable preclinical and field data that will ultimately support our transition to human clinical development. This staged approach enables us to responsibly expand our OA portfolio while maintaining strict capital discipline and focus on our core late-stage phase 3 asset.”