Smallcap biopharma company, Immuron Ltd (ASX: IMC) was up 29% two hours out from the close today following revelations the company has received $6.2m to clinically evaluate a military strength dosing regimen for Travelan, a drug for travellers with diarrhoea.
The US Department of Defence has decided to stump up with $4.8m to fund the research, and the US Naval Medical Research Centre (NMRC) received $1.4m to support the study.
Funds will be used to conduct controlled human infection model (CHIM) clinical trials. Around 60 ‘healthy’ volunteers in the US will be tested to confirm the efficacy of a single larger dose regimen of Travelan using the enterotoxigenic Escherichia coli (ETEC) strain H10407.
Will a daily dose do the trick?
While infectious diarrhoea is the most common illness reported in US troops deployed overseas, the current three dose per day regime is said to have low compliance among military personnel.
As a result, trials will attempt to establish whether a single dosing regime could be more appropriate for use in military populations.
Two company sponsored clinical studies have already proved that Travelan conferred 84% to over 90% protective efficacy against moderate to severe diarrhoea upon challenge with ETEC in comparison to a placebo.
Phase 3 registration trials
Results of this clinical study are expected to inform dosing in the pivotal Phase 3 registration trials for BLA licensure.
“The NMRC plans to clinically evaluate the protective efficacy of our new oral therapeutic targeting Campylobacter and ETEC this year in two controlled human infection-model clinical trials,” said Immuron’s CEO Dr Jerry Kanellos
One trial focuses on the ability of the hyperimmune product to protect volunteers against moderate to severe campylobacteriosis, and the second trial focusing on ETEC infections.
Consensus does not cover this stock.
Based on Morningstar’s (29 December 2021) fair value of $0.30 the stock looks to be to marginally undervalued, but investors should not, this predates today’s announcement.
Get the latest news and media direct to your inbox