Synairgen (AIM:SNG) , a respiratory drug company on the frontline in the fight against Covid-19, has officially commenced its drug dosing trial in patients with the virus.
The AIM-listed group told investors that it has kick-started a clinical trial in UK hospitals with a prevention drug it hopes will stop sufferers of the coronavirus from falling seriously ill.
The first patient has now been dosed at the initial trial site located at the University Hospital Southampton and a further six trial sites are expected to start dosing in the coming days.
“We are delighted to get this trial underway with the dosing of the first patient. The team has worked tirelessly and intensively with the relevant authorities and collaborators to get to this stage,” said Richard Marsden, CEO of Synairgen.
Synairgen originally announced it had received regulatory approvals to conduct a trial in COVID-19 patients on the 18th March.
Shares in Synairgen were trading 12.90% higher at 69.5p during Tuesday trading.
Synairgen is using a technology within its clinical trial known as interferon beta (IFN-beta), a naturally occurring protein which orchestrates the body’s antiviral responses.
The formulated drug candidate, known as SNG001, is directly delivered to the lungs via an inhaler to treat and/or prevent lower respiratory tract infections caused by the virus.
Data previously received from the group’s phase II trials in patients with asthma has already shown that it enhances the lung’s antiviral defences.
Synairgen will now test its treatment on 100 patients with the virus and expects results to arrive in as soon as eight weeks.
Synairgen’s shares climbed more than 300% on Friday, closing at 46p and giving the company a value of £50.3m.
The trials mark a turnaround for the company which had previously taken a hit with a lack of funding and an overhang from investors including Neil Woodford, the Times reported on Sunday.
“A successful outcome from this trial in COVID-19 patients would be a very important step towards a major breakthrough in the fight against this coronavirus pandemic,” said Marsden.
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