• Phaxan™ addresses current safety issues in anaesthesia such as contamination and may also help reduce memory loss
MELBOURNE, AUSTRALIA: June 18, 2014— Drawbridge Pharmaceuticals Pty Ltd (Drawbridge) is pleased to announce that Chinese Patent Application No. 201180013975.2, entitled “Anaesthetic Formulation” has proceeded to grant.
“This patent adds significant value to the company as the demand for anaesthetic drugs in China is continuing to grow at a fast pace. We are building a robust patent portfolio for Phaxan™, with patents granted in the United States, United Kingdom, Hong Kong, Singapore, Australia, New Zealand and South Africa. We are pleased to announce that we can now also include China in our portfolio with coverage extending to 2031,” said Dr Filippis, CEO at Drawbridge Pharmaceuticals.
The company has recently completed a proof-of-concept clinical trial comparing the anaesthetic properties of Phaxan™ with propofol, which is the agent most commonly used for intravenous anaesthesia. The results of this study were extremely positive, confirming that Phaxan™ is as fast as propofol in onset and offset of anaesthesia with improved cardiovascular and respiratory safety.
Propofol has previously been seen as the industry gold standard due to its predictable onset and recovery from anaesthesia and sedation. However, propofol has some significant problems including: the lipid based preparation is easily contaminated and supports bacterial growth; it causes falls in blood pressure, depression of breathing, pain on injection, is incompatible with plastic containers and leads to lipid toxicity.
Phaxan™ is a water-based preparation with an improved safety profile —making it easy to administer and eliminating the contamination issues of lipid-based propofol.
“This is an exciting time in the development of Phaxan™ because in addition to its improved safety profile and reduced risk of contamination,our clinical trial confirmed that Phaxan™ anaesthesia also may address a common problem seen more often after surgery in older persons; slowing of thought processes and memory,” said Professor Colin Goodchild, Chief Medical Officer at Drawbridge Pharmaceuticals.
Amidst revelations that one in 10 major surgery patients suffer long-term memory loss, the anaesthetics market around the world is calling out for a new anaesthetic that addresses this unwanted side effect.
“We have shown that Phaxan™ has the potential to deliver a much sought after alternative to propofol. Our study confirms that cognitive function was preserved better after Phaxan™ anaesthesia than with propofol,” continued Prof. Goodchild.
The complete clinical trial results and the detailed findings of this study, titled ‘Digital Substitution Test Reveals Preservation of Cognitive Reserve After Phaxan™ But Not After Propofol Anaesthesia’ will be presented by Professor Goodchild at Anesthesiology 2014.
Sky Business news recently interviewed Drawbridge Pharmaceuticals to discuss the company’s commercialisation strategy for Phaxan™. Click here to watch this segment.
About Drawbridge Pharmaceuticals
Drawbridge Pharmaceuticals was founded in 2011 and is a privately-held biotechnology company, headquartered in Melbourne, Australia. The company is developing innovative neuroactive steroid compounds for use in critical care situations. Phaxan™ is the lead compound for use as a fast onset and offset intravenous general anaesthetic and sedative.
www.drawbridgepharmaceuticals.com.au
https://twitter.com/DrawbridgePharm
About Phaxan™
Phaxan™ is a novel water based formulation of the neuroactive steroid, alphaxalone. It has a wide therapeutic index and rapid onset and offset of action. The anaesthetic agent in Phaxan™ has been administered in the past as Althesin® when formulated in a different excipient. It was withdrawn in 1984 because of problems with the formulation. Phaxan™ does not have the problems of the Althesin® formulation and it’s superiority in safety compared with propofol, demonstrated in preclinical models, has recently been confirmed in a proof of concept clinical trial.
Phaxan™ is a registered trade mark for alphaxalone formulated in sulfobutyl ether beta cyclodextrin being developed by Drawbridge Pharmaceuticals.
Dr Anthony Filippis and Prof. Colin Goodchild are available for interviews
Media enquiries:
Christine Filippis, Mendleson Communication: ph 61 3 9421 6520, email christine@mendleson.com.au
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