COVIRIX reports successful test results
Sydney, Mar 8, 2022 AEST (ABN Newswire) - GoConnect Limited (
NSX:GO8) is pleased to report on successful virology test results recently received by COVIRIX Medical Pty Ltd against the Delta strain of SARS CoV-2. GO8 is a significant shareholder and co-founder of Go Green Holdings Ltd with 43.8% equity interest.
Go Green Holdings is a co-founder and significant shareholder in COVIRIX Medical with approximately 25% equity interest.
Reproduced below is a media release from COVIRIX Medical.
COVIRIX reports successful test results against Delta variant further confirming previous successful tests on SARS CoV-2.
COVIRIX Medical, a Melbourne based pharmaceutical development and diagnostic marketing company, announces today that the company has recently completed virology tests at a renowned European laboratory confirming the antiviral activity of our lead compound and related analogues against the Delta strain of SARS-CoV-2. These data provide both independent confirmation of our earlier assays conducted at Australian, USA, and Netherlands based laboratories involving the original Alpha strain and related variants, together with providing further evidence of cross-strain activity.
COVIRIX's compounds belong to a class of drugs that have a long, well-established history of broad spectrum antiviral activity (i.e. activity across many different species of viruses), and therefore likely to work against known and emerging strains of SARS-CoV-2, which is now confirmed. The class also includes several approved drugs that have been in use for many years for non-infectious diseases applications. Based on COVIRIX's research, other than what COVIRIX is developing, there is currently no other inhalable small molecule drug, with broad spectrum antiviral activity, available for treating Covid-19 in the world.
COVIRIX's lead molecule CVX 20733, already a clinically approved drug, is a repurposed drug currently in use as an orally delivered drug for metabolic diseases which the company intends to deliver via a proprietary inhaled dose form. Inhalation is designed to provide rapid delivery of the drug at high local concentrations to the site of virus replication: the respiratory tract. Such targeted delivery is also expected to circumvent the potential for any systemic side effects.
Repurposing an existing drug for inhaled delivery takes advantage of the reduced timeline, saving years of development which are typically required for new as yet unapproved medicines. The reduced risks and costs associated with drug repurposing can potentially save hundreds of millions of dollars compared to a new drug development program. In addition, COVIRIX's new route of delivery is particularly suited for the treatment of respiratory tract diseases such as COVID-19.
In addition to the lead molecule CVX 20733, the company's pipeline includes analogues with increased potency (several of which were the subject of the recent confirmatory tests) that offer the opportunity for follow-on drugs with, for example, improved dosing profiles and the prospect of a long-lived, diverse product portfolio.
COVIRIX will now move to early clinical trials with its primary drug candidate CVX20733 to be conducted in the coming months on the Indian subcontinent where planning work is underway with Clinical Research Organizations. Provisional patents have been filed for 11 antiviral and 1 non-steroidal anti-inflammatory drugs.
About GoConnect Limited
GoConnect Limited (NSX:GO8) has been established since August 1999 as a media communications company. Since 1999 and until 2015 when it co-founded Go Green Holdings, its core business specialised in the online delivery of interactive audio and video contents via its unique and proprietary technology.
Since 2015, GoConnect has transformed itself to an active investment company developing businesses that can leverage on the Company's expertise and long experience in communications technology and marketing.
| ||
|
