PaxMedica Inc. (PXMD)
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PaxMedica Announces First Patent Allowance for Suramin Intranasal Formulation in the treatment of Autism Spectrum Disorder and Other Conditions
BOSTON, MA / ACCESSWIRE / January 14, 2025 / PaxMedica, Inc. (OTC PINK:PXMD), a clinical-stage biopharmaceutical company dedicated to advancing treatments for neurological disorders, is pleased to announce it has received a Notification to Grant Patent Right for Chinese Invention Patent Application No: 2020800553323, Compositions and methods for treating cognitive, social, or behavioral disabilities and neurodevelopmental disorders, such as those found in individuals impacted by autism. Howard Weisman, CEO of PaxMedica commented, "This is an extraordinary milestone for PaxMedica, as this is the first jurisdiction in the world where intellectual property protection of any form of suramin has been approved, since it was first used in humans over 100 years ago.
PaxMedica Secures Immediate Exercise of Warrants
TARRYTOWN, NY / ACCESSWIRE / September 3, 2024 / PaxMedica, Inc. (OTC PINK:PXMD), a clinical-stage biopharmaceutical company dedicated to advancing treatments for neurological disorders, today announced the entry into definitive agreements for the immediate exercise of certain outstanding warrants to purchase up to an aggregate of 4,423,080 shares of common stock of the originally issued in November 2023, having an exercise price of 1.30 per share, at a reduced exercise price of $0.20 per share. The shares of common stock issuable upon exercise of the warrants are registered pursuant to an effective registration statement on Form S-1 (No.
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PaxMedica Inc. Profile
| Biotechnology Industry | Healthcare Sector | Howard J. Weisman CEO | XMEX Exchange | US70424C2035 ISIN |
| US Country | 6 Employees | - Last Dividend | 31 Oct 2023 Last Split | 26 Aug 2022 IPO Date |
Overview
PaxMedica, Inc. is a biopharmaceutical company in the clinical stage, dedicating its efforts towards the creation of anti-purinergic therapies aimed at treating disorders characterized by severe neurologic symptoms. The company's pursuit in medical science focuses on addressing conditions that currently lack effective treatments, by exploring the potential of purine receptor antagonism. Founded initially as Purinix Pharmaceuticals LLC, PaxMedica rebranded in April 2020, underscoring its evolution and commitment to its mission. Based in Tarrytown, New York, and initiated in 2018, PaxMedica stands at the forefront of developing groundbreaking treatments with the potential to significantly improve the lives of individuals affected by complex neurologic disorders.
Products and Services
- PAX-101
- PAX-102
- Other Chemical Entities
- PAX-HAT-301
- Research Collaboration with PolarMar Health
An intravenous formulation of suramin currently in Phase 3 clinical trials, PAX-101 is being investigated for its efficacy in treating a spectrum of disorders including autism spectrum disorder (ASD), myalgic encephalomyelitis/chronic fatigue syndrome, long COVID-19 syndrome, fragile X syndrome, human African trypanosomiasis (HAT), and fragile X-associated tremor/ataxia syndrome. Its development is underpinned by the hypothesis that targeting the purinergic signaling pathway could alleviate the neurologic symptoms associated with these disorders.
PaxMedica is also developing PAX-102, which is an intranasal formulation of suramin aimed at various neurologic indications. This product underscores the company’s dedication to expanding its portfolio of anti-purinergic therapies and exploring different administration routes that may offer additional ease of use and patient comfort.
In addition to PAX-101 and PAX-102, PaxMedica is working on developing new chemical entities that act as targeted and selective antagonists of purine receptor subtypes. These entities represent the company’s ongoing investment in cutting-edge research to discover novel therapies for challenging neurologic conditions.
Specifically designed for the treatment of HAT, PAX-HAT-301 exemplifies PaxMedica’s commitment to addressing global health challenges. Through targeting diseases that are endemic in certain regions, PaxMedica aims to contribute to the worldwide effort in combating neglected tropical diseases.
PaxMedica has entered into a research collaboration with PolarMar Health to commence a Phase II clinical trial in autism spectrum disorder for emodin. This agreement highlights the collaborative nature of biopharmaceutical research and PaxMedica’s openness to partnerships that accelerate the pace of innovation. Under this agreement, PolarMar Health retains the rights to develop and commercialize any non-prescription supplement form of emodin, while PaxMedica retains exclusive rights to develop and commercialize a highly purified form of emodin for prescription use.
