Promics completes psoriasis pilot study

Brisbane-based biotechnology company Promics has completed a pilot study examining the safety of its lead anti-inflammatory drug PMX 53 as a topical treatment for psoriasis.

The study, which involved 10 patients at the Royal Adelaide Hospital, looked at safety and tolerability in conjunction with psoriasis lesion scores, confirming that the drug was safe and well tolerated when used in a topical form. In addition, nine out of the 10 patients treated showed an improvement in the lesion score.

"It's a small study, so we don't want to overstate the results, but it's very encouraging," said Promics managing director Alan Scott.

In addition to the psoriasis study, the company also aims to test the drug in a Phase IIa clinical trial to look at safety and tolerability of the drug administered orally to patients with rheumatoid arthritis. The study, which is being performed in Amsterdam, is expected to be completed in July or August depending on patient enrolments.

PMX 53 blocks the complement C5a receptor -- a key molecule in the early stages of the inflammatory response. Pre-clinical animal studies performed by the company suggest that the drug may have wide applicability as a treatment for inflammatory diseases including osteoarthritis, inflammatory bowel disease, fibrosis and hypersensitivity.

"The next step will be further human trials, with the disease state and nature of the trials yet to be determined," Scott said. "We want to add to our knowledge base of the drug."

The company last week received a $250,000 equity investment from the Queensland government's BioStart program, as well as a $2.75 million milestone-based investment from venture capital consortium including GBS Venture Partners and Start-Up Australia Ventures and others, bringing total investment in the company to date to around $10 million.

"This latest round of funding is a great result for the company, as it will help us complete the early clinical testing of the drug in patients with rheumatoid arthritis and psoriasis," Scott said.

Scott said the company would most likely look to partner with a larger company to take the drug through later stage clinical trials. "We're not going out knocking on doors, but it's generally known that big pharma is coming to us," he said.