25th Aug 2021 11:38
Faron Pharmaceuticals Oy - Finland-based biopharmaceutical company - Doses first patient in the phase two and three Hibiscus trial assessing Traumakine as a first-line treatment for hospitalised Covid-19 patients. Traumakine is a therapy developed by Faron for the treatment of acute respiratory distress syndrome, acute kidney injury and cardiac protection.
"Despite the progress that has been made with vaccinations, there remains a critical need to identify effective treatment options for hospitalised Covid-19 patients," says Chief Executive Markku Jalkanen.
"We believe Traumakine will be advantageous over current standard of care to protect lung function post Covid-19 infection."
In January, Faron announced that the US Department of Defense had selected the Hibiscus trial to receive USD6.1 million of funding from the Coronavirus Aid, Relief & Economic Security Act.
Current stock price: 479.00 pence, up 5.3% Wednesday
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By Will Paige; [email protected]
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