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Paradigm Biopharmaceuticals new data shows 60% pain reduction, shares rise

Data is being collected through both a clinical trial and the TGA Special Access Scheme.

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Osteoarthritis is a condition with significant unmet medical need

Paradigm Biopharmaceuticals Ltd (ASX:PAR) has achieved a 60.5% average reduction in pain from an additional 25 patients with osteoarthritis treated with injectable pentosan polysulfate sodium (iPPS).

The company believes these strong results can be attributed to this specific patient group undergoing a six week treatment period compared to a three or four week treatment period.

Paradigm has now received data from a total of 100 patients treated by their doctors under the Therapeutic Goods Administration (TGA) Special Access Scheme (SAS).

READ: Paradigm Biopharmaceuticals completes recruitment for knee pain trial

These patients were treated under a similar dosing regimen as Paradigm’s current 110-patient phase IIb osteoarthritis clinical trial, which recently completed recruitment.

Combining this latest result from 25 patients with the previously reported 75 patients increases the average reduction in pain scores to 52.9%.

These results are significantly superior to the typical 15% pain reduction scores reported for opioid treatments for chronic pain in osteoarthritis of the knee and hip.

More reports expected over coming months

Paradigm’s CEO Paul Rennie said: “We are very pleased to see the fourth group of Real World Evidence patients report results that have outperformed the previous three groups of patients we treated under the program.

“Of great importance to us is that Paradigm now has data on 100 patients being successfully treated with iPPS for OA associated BMELs.

“The number of patients seeking treatment via the TGA SAS is accelerating, which we believe is a strong indication that the patients are receiving a clinical benefit from the iPPS treatment.”

Paradigm will continue to report over the coming months on the groups of patients that are currently undergoing treatment from their doctors under the TGS SAS.

Results from the phase IIb clinical trial are expected to be released late in the December quarter of this year.

Quick facts: Paradigm Biopharmaceuticals Ltd

Price: 3.16 AUD

ASX:PAR
Market: ASX
Market Cap: $710.2 m
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