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Naturally Splendid Enterprises holds a full inventory stock of possible coronavirus drug Cavaltinib

The Vancouver-based company is waiting for Health Canada’s go ahead to start a Phase 2 clinical trial for the treatment

Naturally Splendid Enterprises Ltd. -
Cavaltinib targets a severe immune reaction in the body known as a cytokine storm

Naturally Splendid Enterprises Ltd (CVE:NSP) (OTCMKTS:NSPDF) told shareholders Monday that it has a full inventory stock of possible coronavirus drug Cavaltinib.

The Vancouver-based company is awaiting Health Canada’s go ahead to start a Phase 2 clinical trial for the treatment, which targets a severe immune reaction where the human body releases too many cytokines into the bloodstream very quickly, known as a cytokine storm.

Naturally Splendid is teaming up with Biologic Pharmamedical Research to develop and pursue the clinical study using one of Biologic's patented technologies as a candidate for a potential treatment. Naturally Splendid will have a 16% stake in the joint venture and be granted a 10% royalty on gross sales of all products and applications arising from the clinical study.

READ: Naturally Splendid joins race to find coronavirus treatment as it unveils joint venture plan with Biologic Pharmamedical Research

The firm said in a statement that it has reached agreements with pharmaceutical-grade manufacturing facilities to allow Cavaltinib production to scale up quickly for either Phase 3 studies or distribution to patients. In total, four facilities were identified, with two in Canada and two in the US.

“This combined manufacturing capacity would be sufficient for commercial production to serve international markets and provide for manufacturing contingency plans should it be required,” Naturally Splendid said in a statement.

The company provides contract manufacturing services for global healthy food companies and white labels a variety of nutritional food products destined for global healthy food markets.

Contact Angela at [email protected]

Follow her on Twitter @AHarmantas

Quick facts: Naturally Splendid Enterprises Ltd.

Price: 0.05 CAD

TSX-V:NSP
Market: TSX-V
Market Cap: $9.21 m
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