Need a little help if someone can comment, especially if you have ever heard of this company. As some of you know, I know only enuf to be dangerous. Anyway, have a friend that seems bent on buying a Canadian biotech called International Wex Technologies, Vancouver TSX Venture Exchange symbol WXI. Started in Hong Kong in 1986 before moving HQ to Vancouver. My intuition is to stay away from it, but .......
Pipeline is a drug called tetrodotoxin, derived from puffer fish toxin as a novel way to block pain. A second form of the drug is for treating pain from heroin withdrawal. Phase 2 study showed cancer pain reduction by "at least one-third" in 68 percent of patients. Subjects had no relief on other stuff, and relief lasted well over a week in some patinets. No side effects associated with narcotics, and no serious other side effects. Injectable; "sodium channel blocker"; "may prove most useful on neuropathic pain".
Next study: 150 patients in Canada; similar study in US following soon. Needs another $20 million C for Canada and US development. European trials being financed by a partner, Laboratorios del Dr Esteve S.A. of Spain (never heard of them).
MC=$45 mil C
My take is that the drug sounds kinda okay for neuropathic pain, if it works, since my impression is that this indication is very elusive to treat and nobody's has had much luck with it? But, geeeeez.....
They have nothing else, and I don't think you can patent fish juice. The platform is not confirmed outside of the Spanish company I never heard of (and then the terms aren't known, at least from what I have seen). And would expect fierce competition, including Prialt (altho a clumsy delivery mechanism). Would appreciate any thoughts.
fred hayes |
