Starpharma (ASX:SPL) has been awarded $1 million in matched funding by the Australian Government’s Medical Research Future Fund (MRFF) Biomedical Translation Bridge (BTB) Program.
The money is to expedite development and commercialisation of its Covid-19 antiviral nasal spray.
Starpharma’s product was selected for support by an expert international panel as one of only five recipients for this COVID-19 specific MRFF funding which required projects to be capable of achieving substantial and rapid impact in the global response to the COVID-19 pandemic within 12 months.
Starpharma’s patented SPL7013 nasal spray has the potential to prevent both acquisition and transmission of SARS-CoV-2 and, due to its broad-spectrum antiviral activity.
Share sin Starpharma (ASX:SPL) are trading 4.29 per cent higher at $1.70.