Cyxone, a small biotech company from Sweden, is trying to take their investigational drug into a market that is potentially worth $36.11 billion by 2027. A company that is coming into an already oversaturated market has many investors skeptical about whether this company will secure a fair share of the market.
Where biotechnology giants like Genentech have continued to take control of the rheumatoid arthritis market. A strong competitor for this small biotech who they will need to address as they set up a marketing plan for their drug as it enters phase 2 clinical trials. Although there is strong competition, the company still sees value in taking new drugs into the market that are better and more effective than current drugs being prescribed. In a press release made available on Thursday, Cyxone announce that it is optimizing its drug development plans for Rabeximod.
This initiative is in line with the recent changes that Cyxone has made to its management team. With a new CEO guiding this small biotech company's decisions, Dr. Tara Heitner and her senior medical advisors are looking to change past blunders. With market intelligence, an extension of their pharmaceuticals patent life and a chance for market exclusivity of taking their drug into new markets. This small biotech is back into the fight to deliver better therapies for patients living with autoimmune diseases and getting into the COVID space.
If all regulatory applications are approved, we expect the trial to begin the fourth quarter of 2020. They are looking to begin recruiting 300 volunteers for their phase 2 clinical trial to see whether their treatment is effective in patients with COVID. The trial will begin in European countries with anticipated readout in the third quarter of 2021. The hope is that Rabeximod will treat patients with severe respiratory failure caused by an overreaction of the immune system. The drug looks to lessen the stress and complications that often come from a patient's immune system by preventing the cytokine storm.
With a new CEO and scientific advisory board at Cyxone, actions have been put in place to further long-term shareholder value. By improving the firm's patent positions and protecting their intellectual property from any other competitors, the company sees another chance to take their drug to the market.
"It was essential to redefine the key selling points of Rabeximod in light of the latest treatment options in RA and other market trends. We are intrigued by the new opportunities for Rabeximod that have recently been revealed and will now work hard to compile an optimized development plan in rheumatoid arthritis. In parallel, we are looking forward to initiating the phase 2 study in Covid-19 patients – an area where the need for efficacious medical treatments is immediate, acute, immense," said CEO Tara Heitner.