Naturally Splendid (NSP.T) signed an LOI with Vancouver-based Biological Pharmamedical Research to form a joint venture to continue developing and pursuing phase two clinical studies, using one of Biologic’s patented technologies as a candidate for a potential treatment for COVID-19.
The company has been working to support Biologic with its plan to conduct COVID-19 phase two clinical studies in Canada, United States and abroad with its patented pharmacological tech. The company can’t express a guarantee that they’re going to be accepted, but Biologic has been given the nod to fast track a clinical trial application (CTA) to Health Canada following a preliminary review of the data.
Here’s what Biologic’s all about from their website:
Biologic pharmamedical is involved in the research and development of nutrient- and nutraceutical- based technologies or analogues of these natural compounds using pharmaceutical or medical research models to help define how they interact and modulate cell signalling and behaviour.
The pandemic has overloaded hospitals and generally put a substantial strain on the health care system. It’s caused shortages of respirators and other essential equipment, and other assorted intensive care unit bottlenecks.
The treatment offered by Naturally Splendid is an amplified variant of one of Biologic’s existing technology. This patented tech when taken in capsule form could reduce or eliminate the need for infected patents to congregate in hospitals or clinics for infusions or other treatments. The capsule delivery system, if it works, would increase the effectiveness of treatment at a fraction of the cost, up to and including eliminating the need for hospitalization, and provide more safety for our at-risk front line medical staff.
Joint venture terms
When the transaction’s completed, Naturally Splendid will own 16% of the joint revenue and be granted a 10% royalty on gross sales of all the products from the study. Biologic will own 82% of the JV with 2% devoted to key personnel within Biologic.
The JV will be granted certain rights from Biologic’s patents as they relate to treating COVID-19 infections. The licensed categories will extend past COVID-19 to include additional respiratory indications that may come out of a fast-tracked phase two clinical trial. Biologic will continue their in vitro program on tissue and cell models to find further pharmacological mechanisms associated with treatment of other diseases and problems like rheumatoid arthritis, ulcerative colitis, Crohn’s disease and other autoimmune or autoinflammatory diseases.
Under the proposed joint venture, NSP will invest $500,000 CDN cash into the joint venture for the purpose of.:
(a) preparing documentation for submission of the CTA to Health Canada.
(b) preparation of formal phase 2 clinical trials
(c) $100,000 CDN for inventory of the Covid- 19 treatment product for phase 2 clinical trials ;
(d) ongoing clinical trials and further research and development for a period of twelve (12) months overseen by Biologic; and
(e) preparing documentation for pre-IND application for a phase 2 COVID-19 clinical trial with the U.S. FDA.
(f) preparing and executing our own internal pilot trial
The company estimates the clinical trial phase for COVID-19 related issues will take anywhere from a month to three months with an extra twelve month period intended to further expand the pharmacology.