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ProtoKinetix Engages Multi-National Partner for Formulation of Topical Drug to Treat Dry Eye Disease & Ocular Inflammation with AAGP®
ProtoKinetix Engages Multi-National Partner for Formulation of Topical Drug to Treat Dry Eye Disease & Ocular Inflammation with AAGP®.
About this update from Protokinetix, Inc.
[{"type":"text","content":"\nProtoKinetix, Incorporated (the \"Company\" or \"ProtoKinetix\") (OTCQB: PKTX), a clinical-stage biomedical company, today announced that it has engaged a global pharmaceutical company to develop the formulation as a topical ocular drug for the treatment of dry eye disease (DED) and ocular inflammation using AAGP®.\n\nFor the development of this drug for DED to date the company has completed:\n\n\nOcular irritation studies\n\n\nProof of concept pre-clinical DED trials for efficacy\n\n\nConfirmatory pre-clinical DED trials for efficacy\n\n\nPilot drug stability (ie. shelf-life) testing\n\n\nPilot tolerability and toxicology studies\n\n\nAll these studies were conducted by market-leading contract research organizations (CRO).\n\nIn order to progress to clinical trials, the Company intends to complete the following activities:\n\n\nComplete topical application formulation(s)\n\n\nConfirmatory DED efficacy tests\n\n\nDrug product Good Lab Practice (GLP) IND-enabling safety toxicology\n\n\nCommunicate with Federal Drug Administration (FDA) on clinical trial design criteria\n\n\nDry Eye Disease Market Overview\n\nAccording to market research published by Mordor Intelligence LLP, studies of the Dry Eye Disease market indicated a value of approximately USD 4.5 billion in 2018, and the market is expected to reach up to USD 6.2 billion by 2024, with an anticipated CAGR of 5.23%, during the forecast period (2019-2024). The growth of dry eye related diseases may include several factors, such as aging, a decrease in the supportive hormones (ex. menopause), systemic inflammatory diseases, ocular surfaces diseases or surgeries affecting the cholinergic nerves, which stimulate tear secretion.\n\n“This is a critical milestone in our application development and moves us forward to commercialization of ProtoKinetix’s Dry Eye Disease program.” – Clarence Smith, CEO President\n\nSee the promising research of AAGP® and results to date\n\nVisit our new website at ProtoKinetix.com for more information and to join our email list.\n\nAbout ProtoKinetix, Incorporated\n\nCautionary Note Regarding Forward-Looking Statements\n\nThe information discussed in this press release includes “forward looking statements” within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Ex...