The publication was of a patient case study which confirms the significant potential of Pentosan Polysulfate Sodium (PPS) to treat subchondral Bone Marrow Edema Lesions (BMELs) in people with osteoarthritis (OA).
Paul Rennie, chief executive officer, commented:
"Targeting the entire degenerative joint, including the cartilage breakdown and the bone marrow edema lesions in the underlying bone of the joint, represents a Paradigm shift in treating painful OA.
"This case study underlines that PPS could be a promising, safe and effective treatment for BMELs in people with OA – a condition with significant unmet medical need."
The importance of this publication and the positive market reaction, is due to Paradigm commencing its Phase 2b trial of PPS for OA.
Rennie added: "Most current OA treatments do not effectively address the disease and can have destructive effects on joint structure or adverse side effects.
"We hope PPS can provide the two major goals of physicians and their OA patients alike - i.e. significantly reduce OA pain and stop or slow the structural destruction of the joint.
"Additionally, we hope PPS may offer an alternative to the use of opioids for treating OA pain."
The size of the market
In the U.S. alone, the financial burden of OA has been estimated to be US$81 billion in medical costs and US$128 billion in total costs, given around 21 million people have OA associated limitations, while there are 36 million outpatient visits and 750,000 hospitalisations per year.
In Australia, arthritis affects around three million people or around 15% of the population.
OA is the leading cause of pain and disability among the elderly in Australia and the third-leading cause of life-years lost due to disability.