Drug development company, Noxopharm
(ASX:NOX), has entered a research agreement with the University of New South Wales (UNSW).
In particular, both organisations are trying to develop a preventative treatment for damage to the central nervous system – including strokes and spinal cord injuries.
By combining the intellectual property of Noxopharm and UNSW, the aim is create a drug that can be delivered after a brain or spinal cord injury occurs – to prevent the injury from spreading further across the body.
Noxopharm says its NOX66 drug delivery technology was initially developed to treat brain cancer, but then realised it could also be used to treat other diseases.
Noxophorm expects this R&D project to advance quickly into the clinical stage – now that it is combining its resources with UNSW.
This morning, shares in Noxopharm are tracking 1.15% higher at 44 cents.
