Paradigm Biopharmaceuticals (ASX:PAR) has announced a new research collaboration with City, University of London, aimed at unlocking deeper insights into how its lead therapy works at the biological level.
The agreement brings together a late-stage Australian drug developer and one of the United Kingdom’s leading centres for musculoskeletal and pain research, with a shared focus on bone marrow lesions, a key but still not fully understood driver of pain and disease progression in osteoarthritis.
Osteoarthritis affects an estimated 600 million people globally, with many experiencing chronic joint pain that current therapies struggle to address effectively. Increasingly, researchers are looking beyond cartilage damage alone, turning their attention to structural and inflammatory changes within bone. Bone marrow lesions have emerged as a critical piece of that puzzle.
Under the collaboration, researchers will study the effects of pentosan polysulfate sodium (PPS), Paradigm’s investigational therapy currently in Phase 3 trials for knee osteoarthritis. The program will combine advanced MRI imaging with gene and protein profiling of tissue samples collected during knee replacement surgeries, offering a multi-layered view of how the drug interacts with joint tissues.
Paradigm’s founder and executive chair, Paul Rennie, framed the partnership as a meaningful step forward in understanding the therapy’s mechanism.
He said, “This collaboration with City St George’s represents an important step in further understanding the mechanism of action of PPS, particularly in relation to bone marrow lesions, which are increasingly recognised as a key driver of pain in osteoarthritis.
"Paradigm is delighted to be working with one of the most advanced rheumatology research centres globally on this important program. By combining advanced imaging with molecular profiling, this study has the potential to generate valuable translational data supporting PPS’ activity across multiple joint tissues. These insights complement our ongoing Phase 3 program and reinforce the broader disease-modifying potential of PPS in osteoarthritis.”
PPS is a semi-synthetic, plant-derived compound that has shown anti-inflammatory effects in both preclinical and clinical settings. Researchers believe it may influence key inflammatory pathways, including NF-κB, potentially delivering benefits across bone, cartilage and synovial tissue rather than targeting a single aspect of the disease.
For City St George’s, the collaboration reflects both the complexity of osteoarthritis and the need for more sophisticated treatment approaches. Professor Nidhi Sofat highlighted how much remains unknown about the condition’s underlying drivers.
She said, “Bone marrow lesions represent one of the most significant and painful aspects of osteoarthritis, yet we still have much to learn about how best to target them. This collaboration has the potential to deepen our understanding of how pentosan polysulfate works in osteoarthritis.
"If the drug improves bone marrow lesions and reduces pain, it could represent a meaningful new treatment option for the millions of people living with osteoarthritis globally.”
The study is expected to run for approximately 12 months and marks Paradigm’s first formal research engagement with the London institution. Beyond its scientific aims, the work could also carry commercial implications. A clearer demonstration of PPS’s disease-modifying potential may help differentiate it from existing treatments and influence future discussions around pricing, reimbursement and strategic partnerships.