- Howard Weisman presented PaxMedica’s goals and plans to investors at the H.C. Wainwright 25th Annual Global Investment Conference on September 12, 2023
- The presentation defined the company’s intention to generate significant funding for its ASD program by first gaining approval for suramin sodium in the treatment of a rare and deadly infection using the same drug
- The global ASD treatment market was valued at $2.02 billion and is expected to reach $3.28 billion by 2030
Howard Weisman, CEO of PaxMedica (NASDAQ: PXMD), a clinical-stage biopharmaceutical company focusing on the development of novel anti-purinergic therapies (“APTs”) for the treatment of Autism Spectrum Disorder (“ASD”) and other serious conditions with intractable neurological symptoms, recently participated in the H.C. Wainwright 25th Annual Global Investment Conference on September 12, 2023. He presented the company’s presentation to investors, expressing the company’s overall goals and plans for its lead programs – PAX-101 and PAX-102. He also participated in one-on-one meetings with investors registered at the conference.
As expressed by Mr. Weisman in the company’s presentation, PaxMedica plans to develop a drug for autism using suramin sodium, which was created in the past to treat Human African Trypanosomiasis (“HAT”), a deadly form of sleeping sickness, but was discontinued. PaxMedica plans to use data from early drug testing as part of an application to treat rare cases of sleeping sickness, which occasionally infects Americans.
If the data is strong enough to persuade the FDA to approve suramin sodium for use in treating HAT, the company plans to commercialize PAX-101 initially for HAT treatment, potentially in partnership with a bigger pharmaceutical company. This early approval would then help substantially fund PaxMedica’s greater purpose, developing a novel treatment using suramin sodium as a treatment for ASD and Fragile X-Associated Tremor/Ataxia Syndrome (“FXTAS”).
According to Grand View Research, the global ASD treatment market was valued at $2.02 billion in 2022. By 2030, the market is expected to grow at a CAGR of 6.1%, resulting in a value of $3.28 billion. This growth is attributed to the number of novel treatments being tested and expected to be approved during the forecast period. There is an urgency among parents and caregivers of individuals with ASD for treatment – fueling the demand for the development of treatments (https://ibn.fm/PrgTA).
Current treatments on the market for ASD only address the symptoms of the condition, and no approved pharmacologic treatments target its cause or symptoms. APTs target the excess production of purines in cells. An overexpression of purines can offset homeostasis and result in an overproduction of cellular adenosine triphosphate, the main energy molecule in all living cells. PaxMedica is on a promising path to address the unmet medical needs of ASD, bringing hope to millions.
At this time, PaxMedica is the only public company focused on developing treatments for the core symptoms of ASD.
PaxMedica’s lead programs include:
- PAX-101 (IV Suramin) for ASD – PAX-101 completed a Phase 2B study for ASD in 2021. The results of PaxMedica’s Phase 2B study, which targeted 52 subjects across six sites in South Africa, were presented to AACAP in October 2021.
- PAX-102 (Intranasal Suramin) – PaxMedica has developed a proprietary intranasal suramin formulation.
PaxMedica’s presentation made special note that although initial data evaluation and associated FDA approval for suramin sodium for treating HAT should be completed within a few months, which will generate the necessary funding for research and development for an ASD drug, any final autism drug approval resulting from those trials will likely take a few years to complete.
For more information, visit the company’s website at www.PaxMedica.com.
NOTE TO INVESTORS: The latest news and updates relating to PXMD are available in the company’s newsroom at https://ibn.fm/PXMD
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