Phosphagenics' redesigned pain patch shows improved results

Phosphagenics Limited (ASX:POH) has announced trial results demonstrating the improved efficiency of the commercial candidate of its TPM/oxycodone patch.

A trial of the product at Royal Adelaide Hospital demonstrated that the new design delivers 4.5 times more oxycodone into the bloodstream over 72 hours, compared to the original prototype.

The pain treatment patch, developed by the Victorian drug delivery company in collaboration with 3M, is also half the size of the prototype.

Phosphagenics CEO Dr Esra Ogru said that while the company plans to make minor formulation changes to the patch, “the trial results confirm we have a viable product.”

The company plans to make the changes before embarking on a phase III clinical trial program later in the year. This trial still requires a sign-off from the US Food and Drug Administration.

Phosphagenics is projecting, based on a Physician’s Survey, that demand for the TPM/oxycodone patch will exceed $1 billion per year. The current global oxycodone market is worth around $3 billion per annum.

The company last year raised $27.1 million in a placement and share purchase plan to help fund TPM/Oxycodone clinical trials.

The Royal Adelaide Hospital trial commenced late last year, after the company received ethics approval in November.

Phosphagenics (ASX:POH) shares were trading 5.26% higher at $0.200 at Wednesday’s close, reversing a 5% decline from the day before.