Annual Report 2022 7 saving drugs, as it takes time, resources and determination, but I know that collectively we are up to the task. We are today at a pivotal moment in our development. Our drug candidate Veyonda® is the subject of three ongoing clinical trials, and we have seen steady progress in these over the past 12 months. There have been some delays, with COVID affecting patient recruitment for example, but as these occurred we have mitigated any impacts on our timelines. Our overarching approach is to partner with the very best organisations possible, and this past year has seen some eminent names added to those already participating in our Veyonda® trials. We have also secured Orphan Drug Designation for Veyonda®, for use in treatment of soft tissue sarcoma, delivering several commercial advantages to us. Beyond Veyonda®, our focus has been to expand our corporate strategy and quickly progress our preclinical pipeline of potential therapies under the ChromaTM and SofraTM technology platforms. The ChromaTM drug candidates have novel bioactive properties which we are exploring primarily in the anti-cancer space, for example looking at how our novel drug candidate CRO-67 targets pancreatic cancer, as seen in our promising results with the UNSW Sydney team and their state-of-the-art patient explant model. Note that other drugs in this platform could be directed at other forms of cancer in the future, as we regularly screen against a panel of cancer types. In parallel, our SofraTM platform is centred around short nucleic acid sequences called oligonucleotides, which can act on specific cell receptors to stop inflammation, which is a major source of many debilitating and lethal diseases. The way we use our proprietary oligonucleotides is a novel approach, which reflects our ambition to be innovators in our field. As speed combined with the best science is a vital aspect for success, we foster strong relationships with leading research institutions such as Melbourne’s Hudson Institute of Medical Research, as well as UNSW, to leverage their world-class capabilities. It is a privilege for us to work with such gifted scientists and we will continue to invest in these collaborations, and others like them, as part of our strategy. You could say that we are a company of collaborators, as every year sees the Noxopharm family expanding and becoming more well known. Our business model is based on the strategy of advancing proprietary and in-licensed drugs through the drug discovery and preclinical stages into clinical trials. And as we reach key value inflection points, we intend to out-license the drugs to optimise value for shareholders. These building blocks represent the future of Noxopharm. As a team, we will focus on our three platforms – ChromaTM, SofraTM and Veyonda® – progressing our clinical trials and preclinical research in order to construct a robust enterprise that will make the most of commercial opportunities and deliver value to our shareholders, the owners of our company. Thank you all for your ongoing support as we enter this promising new era, and continue to develop therapies to help people manage and overcome challenging diseases. Yours sincerely, Dr Gisela Mautner CEO “Our focus has been to expand our corporate strategy and quickly progress our preclinical pipeline of potential therapies under the ChromaTM and SofraTM technology platforms.”
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