Biotech company NeuroScientific Biopharmaceuticals is seeking to float on the ASX as it progresses to first phase human clinical trials of its peptide-based pharmaceutical products.
The private company is developing novel peptides that target neurodegenerative conditions including developing a treatment for stroke-related brain injury and dementia / Alzheimer’s disease, and a diagnostic for early-stage Alzheimer’s disease.
Speaking at the TechKnow Invest Roadshow in Sydney, NeuroScientific Biopharmaceuticals CEO and MD Matt Liddelow said the company was in the midst of exploring an IPO.
“We are advanced in pre-clinical stage which will allow us to progress to first phase of human clinical trials,” he said.
An IPO will provide us with access to capital and funding for the next two years that will see us get through the first phase of human clinical trials. Also, it provides shareholders with liquidity.”
Mr Liddelow said the company was currently at a pre-clinical stage where validation of the product has been completed to make sure that it works.
“Now we have got to show to a regulatory standard that it is safe and that’s basically a test that’s needs to be done and get tick of approval before we got into human clinical trials. We are looking at around nine months before we can do that.”
According to research, Current treatment market for dementia and Alzheimer’s disease is approximately US$ 4 billion and is expected to grow to US$10 billion by 2021. Market growth in the sector is attributed to the aging population and increased life expectancy.
The company is also developing the potential treatment for degenerative diseases of the optic nerve which helps re-grow and regenerate nerves that make up the optic nerve.