Company Interview / Paradigm steams ahead with osteoarthritis treatment trials

Paradigm Biopharmaceuticals (ASX:PAR) is moving through pivotal clinical and regulatory milestones with its lead drug candidate, Zilosul, for osteoarthritis. Executive chairman Paul Rennie says the company has reached the halfway point in its phase three clinical trial, highlighting the scale of the study, which currently involves 45 sites in the United States, 15 in Australia, and soon, sites in Hong Kong and Moldova. Rennie emphasises this milestone as a major achievement not just for the company but also for the broader Australian biotech sector, given the significance of late-stage global trials.

Rennie points out that conducting interim analyses in phase three trials has become more common in the biotech industry, allowing companies such as Paradigm Biopharmaceuticals to gain early insights on trial progress and likelihood of success. The company is preparing to provide detailed interim analysis results around mid to late July, which could serve as a unique advantage to both Paradigm’s investors and stakeholders. This approach allows for better visibility and planning compared to waiting for final trial outcomes.

According to Rennie, Paradigm Biopharmaceuticals aims to partner with a global pharmaceutical firm for sales and distribution, while continuing to manufacture the product and generate royalties on eventual sales. The recent convertible note transaction with Obsidian secures sufficient funding to see the company through the interim analysis stage and potentially beyond.

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