Novel treatment development company Algorae Pharmaceuticals (ASX: 1AI) says it is well placed to advance its innovative therapeutic pipeline and artificial intelligence (AI)-driven drug discovery plans.
In releasing its quarterly results, the company said it is in a strong financial position with $2.4 million in cash as of 31 December 2024, providing sufficient funding for its planned activities.
Priorities will include the continued evaluation of drug targets generated by the company’s proprietary AI platform AlgoraeOS and the progression of clinical trial planning.
A major focus will be the initiation of in vivo studies for Algorae’s AI-168 treatment for cardiovascular disease.
Among the company’s recent highlights was the demonstration of AI-168’s strong cardioprotective effects in preclinical studies conducted at the Victorian Heart Institute at Monash University.
In studies comparing AI-168 against FDA-approved beta-blockers across multiple cardiovascular disease models, AI-168 was found to restore approximately 94% of normal cell proliferation compared to control cells in endothelial cell stress assays.
Other priorities will be progressing the clinical trial planning for AI-116, a treatment for neurodegenerative disorders and/or dementia.
AI-116 has been found to outperform the first-line dementia treatment donepezil hydrochloride in neuroprotection studies.
The company has filed a patent application and Phase 2 clinical trial planning is underway.
The company is also actively exploring opportunities to further enhance its capabilities, ensuring it remains at the forefront of AI-driven drug discovery.
Algorae made substantial progress during the December quarter in advancing its research and development pipeline, particularly with its flagship drug candidates.
AlgoraeOS generated 24 new oncology drug targets and commenced Version 2.0 development using advanced neural network algorithms and the Gadi supercomputer.
The company also used the December quarter to strengthen its team with the appointment of Dr Sarah Siggins to the scientific advisory board.
Dr Siggins is a highly accomplished pharmaceutical executive with significant expertise in regulatory processes and commercialisation strategies across the Asia-Pacific region.
She was hired to provide strategic guidance on advancing the company’s therapeutic pipeline and exploring commercial partnerships.
免责声明：投资有风险，本文并非投资建议，以上内容不应被视为任何金融产品的购买或出售要约、建议或邀请，作者或其他用户的任何相关讨论、评论或帖子也不应被视为此类内容。本文仅供一般参考，不考虑您的个人投资目标、财务状况或需求。TTM对信息的准确性和完整性不承担任何责任或保证，投资者应自行研究并在投资前寻求专业建议。