The company has received a new venture philanthropy award as a convertible loan from FPWR.
It intends to utilise the funding from FPWR to partially fund its ongoing Phase II clinical trial of PBF-999, a dual adenosine A2a receptor antagonist/phosphodiesterase 10 (PDE-10) inhibitor.
The PDE-10 inhibitor has been developed to treat ‘cold tumours,’ such as colon cancers. It has already been assessed in three clinical trials.
Following observations of an appetite-reducing effect using PBF-999, Palobiofarma designed a clinical trial to assess its efficacy and safety in reducing hyperphagia (excessive hunger) in PWS adults.
Palobiofarma CEO Dr Julio Castro stated: “We are excited to receive this funding from FPWR, which will enable us to continue our mission of developing a treatment to help patients with PWS.”
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Led by Dr Assumpta Caixàs, the clinical trial is being conducted at the university hospital Parc Taulí in Sabadell, Spain.
FPWR executive director Susan Hedstrom stated: “Effective treatments for PWS hyperphagia are sorely needed and we are pleased to support Palobiofarma’s efforts on this front.”
In 2018, Palobiofarma commenced recruitment of participants for a Phase I clinical trial of PBF-999 in patients with solid tumours.
Conducted at the Vall D Hebron hospital in Barcelona, Spain, the trial was designed to assess the tolerability and safety of PBF-999.