Key points
- Completed recruitment in Phase 3 PARA_OA_012 trial with 538 participants
- Raised A$21.74 million to fund Phase 3 trial
- Independent DSMB reviews found no material safety concerns
- Continued development of Pentacoxib® and expanded scientific collaborations
- Advanced global partnering discussions
Full summary
Paradigm Biopharmaceuticals Ltd reported the completion of patient recruitment in its global Phase 3 PARA_OA_012 trial for Zilosul® in osteoarthritis, exceeding the target with 538 participants across 57 clinical sites in the United States, Australia, Hong Kong, and Moldova. The company raised A$21.74 million through a Placement and Share Purchase Plan, complemented by a US$27 million Convertible Note Facility, to fund the trial. Independent Data Safety Monitoring Board reviews identified no material safety concerns, allowing the study to continue as planned. Paradigm also continued development of Pentacoxib®, expanded scientific collaborations, and advanced global partnering discussions, positioning the company for future commercialization.
Guidance
Paradigm Biopharmaceuticals Ltd raised A$21.74 million to fund Phase 3 trial
Outlook
The upcoming Interim Analysis and subsequent primary endpoint top-line readout represent significant milestones for the Phase 3 development of Zilosul®.