Noxopharm (ASX:NOX) and its UNSW Sydney collaboration have revealed a drug candidate known NYX-104 has the ability to help stroke, concussion and head trauma patients and people who suffer from severe epileptic seizures.
The collaborative parties say the drug has the ability to significantly reduce the area of brain death in a mouse model of human stroke.
The drug can’t treat the original injury but stops the cascade of nerve cells dying, which occurs in the brain and spinal cord after an initial injury.
The company says there is a significant opportunity to reduce rehab time following a stroke, head or spinal injury.
Shares in Noxopharm (ASX:NOX) closed 8 per cent lower to 58 cents.