Paradigm Biopharmaceuticals (ASX:PAR) received centralized Human Research Ethics Committee approval in Australia for its pivotal PARA_OA_012 phase three clinical trial, which will study the safety and efficacy of injectable pentosan polysulfate sodium for the treatment of knee osteoarthritis, according to a Monday Australian bourse filing.

It said the recruitment of the first subject for the trial is on target and first participant dosing is expected in the second quarter, the filing said.

The approval allows the trial to proceed across multiple key clinical trial sites in Australia, the filing said.

The first trial sites to be activated are expected to be located in Victoria.

The firm's shares rose 2% in early trading on Monday.