PharmaTher Holdings Ltd. (the “Company” or “PharmaTher”) (OTCQB: PHRRF) (CSE: PHRM), a specialty pharmaceutical company, announced today Sairiyo Therapeutics Inc. (“Sairiyo”), a company that is forty-nine percent (49%) owned by PharmaTher and fifty-one percent (51%) owned by PharmaDrug Inc. (CSE: PHRX) (OTC Pink: LMLLF) (“PharmaDrug”), has initiated its regulatory and clinical development plan to evaluate Sairiyo’s patented reformulated enteric coated version of orally bioavailable cepharanthine (“PD-001”) as a potential treatment for oncology and infectious diseases in a Phase1 clinical study in Australia. PD-001 is protected by US Patent US10576077, with a patent expiration date of March 23, 2036.
In pursuit of its clinical strategy for PD-001, Sairiyo is establishing a wholly-owned subsidiary in Australia to conduct the proposed Phase 1 study and capitalize on drug development incentives in Australia. Sairiyo could earn a 43.5 percent rebate from the Australian Federal Government’s Research and Development tax incentive program.
As announced by PharmaDrug on February 14, 2024, the technical transfer and development activities for PD-001 are completed and successfully demonstrated the ability to manufacture clinical GMP manufacturing batches of PD-001 to support future filings to Australia’s Therapeutic Goods Administration (“TGA”) and the Food and Drug Administration (“FDA”) in the United States. Manufacturing of product for clinical studies is scheduled for the second quarter of 2024. Sairiyo has commenced working on a regulatory application to the TGA for its proposed Phase 1 study in Australia.
Fabio Chianelli, CEO and Chairman of PharmaTher, commented, “We are pleased that our investment in Sairiyo is being unlocked as it approaches its next phase of growth as a clinical-stage company exploring a patented reformulated orally bioavailable version of cepharanthine that has the potential to treat responsive cancers and infectious diseases. We expect to submit the regulatory package to the TGA for a proposed Phase 1 clinical study in Australia in Q2-2024.”
