The global biotech industry has been on investors’ radar, with the COVID-19 pandemic
highlighting the necessity of identifying new drug development models and finding solutions for
neglected diseases. As a result, the year 2021 saw a significant focus on research & development
(R&D) in the biotech and pharmaceutical areas. Also, governments across various geographies
increased their support to advance R&D programs. In Australia, the 2021 Federal Budget
introduced a AU$206 million patent box scheme to boost innovations through tax incentives
to biotechnology and medical companies. The Australian government’s efforts have been focused
on increasing the resilience of the country’s biotech sector. Meanwhile, the biotech area
appears to be essentially driven by technological advances, new pathways for drug discovery
and increasing demand for pharmaceuticals among the population. In the current upbeat settings,
let us look at three promising ASX-listed biotech space players addressing the unmet clinical needs.
Invion Limited (ASX: IVX) Clinical-stage life sciences
company Invion is committed to developing Photosoft™ technology
for the treatment of a range of cancers. Notably, PhotosoftTM technology is an improved
next-generation Photodynamic Therapy which uses non-toxic photosensitisers and visible
light in combination with oxygen to kill malignant cells. Importantly, the technology
can become an alternative to surgery and other immunosuppressive drugs
used in cancer treatments. Source: IVX Update, dated 25 May 2021
ALSO READ: Invion’s (ASX:IVX) promising therapy aims to fill the void in cancer treatment space
On this front, Invion recently selected a new active pharmaceutical ingredient (API), INV043,
which has given positive results in the recently conducted proof-of-concept studies. In addition,
the research has pointed at the dual theranostic potential of INVO43, which could prove promising
in treating and diagnosing a range of cancers. Notably, Invion’s cancer research and clinical
trials on Photosoft™ technology are funded under an R&D services agreement by RMW
Cho Group Limited, the technology licensor. The life sciences company has also collaborated
with leading global medical research institutes – Hudson Institute of Medical Research and
the Peter MacCallum Cancer Centre – to advance its research program.
Dimerix Limited (ASX: DXB) A clinical-stage biopharmaceutical company,
Dimerix is developing its proprietary product DMX-200 for focal segmental glomerulosclerosis
(FSGS), respiratory complications associated with COVID-19 and diabetic kidney disease. It is also
advancing the development of DMX-700 for chronic obstructive pulmonary disease (COPD).
The Central Drugs Standard Control Organisation, an Indian regulatory agency, has formally
recommended approval for the DMX-200 clinical study in COVID-19 patients to treat respiratory
complications. As a result, multiple clinical sites in India have been initiated.
Dimerix also recently commenced ACTION3 Phase 3 clinical study in FSGS patients,
with the first ethics submission filed in Australia.
DXB shares have given a return of 25% on a year-to-date basis
and traded at AU$0.30 on 7 October 2021.
Orthocell Limited (ASX: OCC) Focused on regenerating mobility
for patients, Orthocell develops products to repair various soft tissue injuries.
The company’s recent pre-clinical Anterior Cruciate Ligament (ACL)
reconstruction study has returned positive results. The outcomes have highlighted the
potential of Orthocell’s CelGro® collagen ‘rope’ solution to be the
first off-the-shelf biological device to enable the optimal repair of ACL injuries.
Recently, the company also secured new patents for its novel CelGro® collagen medical device
platform in Canada and Hong Kong. The platform is for the suture-less repair of soft tissue defects.
READ MORE: Orthocell (ASX:OCC) secures patents for CelGro® in Canada and Hong Kong
OCC shares traded at AU$0.50 on 7 October 2021. The OCC share price has appreciated
by 2% on a year-to-date basis.