Paradigm Biopharmaceuticals (ASX:PAR) selected Advanced Clinical as its preferred partner for a phase 3 clinical trial evaluating the dose and treatment effect of injectable pentosan polysulfate sodium in knee osteoarthritis pain, according to a Friday filing with the Australian bourse.
The company expects to receive centralized ethics approval for Australia soon, with the first sites to be activated in Victoria and up to 10 sites across the country, per the filing. The dosing of the first participant is anticipated in the second quarter of the year.
Paradigm Biopharmaceuticals shares rose nearly 4% in midday trade Friday.
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