Company Interview / Paradigm Biopharmaceuticals secures US$27 million funding to kick off trial

Paul Rennie from Paradigm Biopharmaceuticals (ASX:PAR) says the company is advancing its phase three trial targeting knee osteoarthritis, following the recent securing of a US$27 million convertible note facility from Obsidian Global Capital.

Rennie confirms that all funds from the facility are dedicated to the phase three trial, supporting operations across 35 centres in the United States and 15 in Australia. Initial funding has enabled trial startups, vendor payments, and operational readiness.

Looking ahead, Rennie sees key milestones around first patient dosed in both the US and Australia and subjects’ recruitment targets as pivotal for value creation. Paradigm aims to reach an inflection point by the 2026 interim readout, providing commercialisation opportunities and potential upside for investors.

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