This is a continuation of an upstream R&D project funded by the Hong Kong Government in the form of grants with the latest rounds being from Sinoclone and Grant Technology (HK) Co., Ltd. which owns the sole intellectual property rights for this project. It is to be transferred to Sinopharm Biotechnology when the right partner(s) come onboard. Over USD 1.5 million have already been invested into this R&D project. Pre-Clinical studies are underway with view to enter Clinical Trials in 2018. Our goal is to have our new anti-influenza agent PB2-39 launched into the market by 2019/20. The objective is to list our company or do so after merging with an industry partner, preferably in China.
High mortality rates of H5N1 and H7N9 according to the WHO in 2015 suggest that current anti-influenza drugs are ineffective against these two strains of influenza virus. Our new drug PB2-39 targets the highly conserved area of the virus, RNA Polymerase, to prevent viral replication, and it works on a completely different mechanism from the neuraminidase inhibitors. Patents are being filed to prevent any copying of our technology.
The current anti-influenza medications that are available in the market, Tamiflu, Relenza and Rapivab, can be characterized as neuraminidase inhibitors. They all target the surface neuraminidase receptor of the virus. As we all know, the surface receptors of the influenza virus are highly variable, so resistant strains can easily emerge which diminish the effectiveness of the drugs. This can be demonstrated by the first generation anti-influenza drug Amantadine which is no longer effective as reported by the CDC. Since the launch of Relenza and later Tamiflu, Zanamivir (Relenza)-resistant strains of H5N1 and H7N9 have emerged. An Oseltamivir (Tamiflu)-resistant strain of H1N1 has also been reported. Therefore, there is an immediate need to develop a new type of medication which works on a different mechanism.