TORONTO, Nov. 11, 2020 (GLOBE NEWSWIRE) -- Pharmather Inc., a wholly-owned subsidiary of Newscope Capital Corporation (“Pharmather” or the “Company”) (CSE: PHRM) and a specialty life sciences company focused on the research and development of psychedelic pharmaceuticals, is pleased to announce the appointment of Dr. Alberto J. Espay, MD, MSc, FAAN, as a scientific and clinical advisor to the Company. Dr. Espay currently serves as Professor and Endowed Chair of the University of Cincinnati James J. and Joan A. Gardner Family Center for Parkinson’s Disease and Movement Disorders.
“We would like to welcome Dr. Espay as a scientific and clinical advisor to our team and we look forward to his contributions in our clinical development of ketamine in the treatment of levodopa-induced dyskinesia associated with Parkinson’s Disease,” said Fabio Chianelli, CEO of Pharmather. “Dr. Espay brings invaluable knowledge and experience in the clinical paradigm in Parkinson’s Disease and he will be instrumental in our regulatory and clinical plans to advance our ketamine program for Parkinson’s Disease and movement disorders.”
Dr. Espay stated: “There is a significant need for new therapies in the treatment of Parkinson’s Disease and movement disorders. The established research with ketamine as a potential treatment for levodopa-induced dyskinesia associated with Parkinson’s Disease is very promising and I am pleased to serve as advisor to Pharmather at this stage of their clinical development.”
Dr. Alberto Espay, MD, is professor and endowed chair of the University of Cincinnati James J. and Joan A. Gardner Family Center for Parkinson’s Disease and Movement Disorders. He trained in neurology at Indiana University as well as in clinical and electrophysiology of movement disorders at the University of Toronto, where he obtained a master’s degree in clinical epidemiology and healthcare research. A prolific researcher and author, Dr. Espay has published more than 250 peer-reviewed research articles, 25 book chapters and seven books. His most recent is the first targeting the general public, Brain Fables.
Dr. Espay has served as chair of the Movement Disorders Section of the American Academy of Neurology; associate editor of Movement Disorders, the official journal of the International Parkinson and Movement Disorder Society (MDS); and in the executive committee of the Parkinson Study Group. He currently serves as chair of MDS Technology Task Force and as secretary of the Pan-American Section of the MDS. Dr. Espay is also an honorary member of the Mexican Academy of Neurology.
His research efforts focus on the measurement of motor and behavioural phenomena in – and clinical trials for – Parkinson’s Disease as well as in the understanding and management of functional movement disorders. With colleagues at the University of Cincinnati and several international collaborators, he recently launched the first biomarker study of aging at the University of Cincinnati (CCBPstudy.com), designed to match people with neurodegenerative disorders to available disease-modifying therapies from which they are most biologically suitable to benefit.
The global Parkinson’s Disease market is expected to grow from USD $5 billion in 2019 to USD $7.5 billion by the end of 20251 and it is estimated that the potential market opportunity for LID-PD to be over USD $3 billion in the U.S. alone.
Promising Results with Ketamine in Parkinson’s Disease
Ketamine is an FDA-approved drug with a known safety profile. Prior clinical reports suggest that low-dose ketamine infusions are well tolerated and can improve pain and depression, both often comorbidities in Parkinson’s Disease patients.
Inventors Dr. Scott Sherman and Dr. Torsten Falk, both associate professors at the University of Arizona College of Medicine – Tucson, are working with Tech Launch Arizona to patent the results from preclinical data and five case studies in Parkinson’s disease patients showing that low-dose sub-anesthetic ketamine infusion indicates tolerability, safety and the potential of long-term therapeutic benefit to reduce Levodopa-induced dyskinesia, improve on time, and reduce depression.2-6
About Parkinson’s Disease
Parkinson’s Disease is a debilitating disorder that affects over 1 million people in the U.S. and more than 7 million people worldwide. There is currently no cure for Parkinson’s Disease, although some drug combinations are used to treat the disease symptoms.
Levodopa is the gold standard for Parkinson’s Disease treatment but features significant drawbacks related to its pharmacokinetic profile, including the development of dyskinesia. Approximately 50% of patients with Parkinson’s disease will develop dyskinesia about 4-5 years after the initiation of levodopa, and this number rises to 80% after 10-12 years of levodopa treatment. LID may interfere with motor function, cause or aggravate pain and is known to worsen the quality of life.
Individuals with Parkinson’s Disease may experience a host of non-motor symptoms such as autonomic dysfunction, psychiatric (depression), cognitive and sensory symptoms (pain). Therefore, the urgent need for alternative treatments has been identified by the regulatory authorities, patient advocacy groups such as Michael J. Fox Foundation, and key opinion leaders as a substantial unmet medical need.
About Pharmather Inc.
Pharmather Inc., a wholly-owned subsidiary of Newscope Capital Corporation (CSE: PHRM), is a specialty life sciences company focused on the research and development of psychedelic pharmaceuticals. Pharmather repurposes psychedelic pharmaceuticals, such as ketamine and psilocybin, for FDA approval to treat disorders of the brain and nervous system. Our team includes world-class strategic partners, advisors and a strong leadership team with a proven track record of success in drug development, business development and capital markets. Our goal is to advance the development of panaceAI™, our drug repurposing artificial intelligence platform, and our clinical product pipeline with ketamine and psilocybin in the treatment of Parkinson’s Disease, depression, pain, traumatic brain injury and stroke.
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This press release contains ‘forward-looking information’ within the meaning of applicable Canadian securities legislation. These statements relate to future events or future performance. The use of any of the words “could”, “intend”, “expect”, “believe”, “will”, “projected”, “estimated”, “potential” and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on the Company’s current belief or assumptions as to the outcome and timing of such future events. Forward-looking information in this press release includes information with respect to U.S. Food and Drug Administration (“FDA”) approval under an Orphan Drug Designation (“ODD”) and investigational new drug (“IND”) to conduct a Phase II clinical study, market opportunities in Parkinson’s Disease and levodopa-induced dyskinesia associated with Parkinson’s Disease (“LID-PD”), ketamine programs towards human clinical studies under the FDA regulatory pathway and product developments. Forward-looking information is based on reasonable assumptions that have been made by the Company at the date of the information and is subject to known and unknown risks, uncertainties, and other factors that may cause actual results or events to differ materially from those anticipated in the forward-looking information. Given these risks, uncertainties and assumptions, you should not unduly rely on these forward-looking statements. The forward-looking information contained in this press release is made as of the date hereof, and Company is not obligated to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable securities laws. The foregoing statements expressly qualify any forward-looking information contained herein. Factors that could cause actual results to differ materially from those anticipated in these forward-looking statements are described under the caption “Risk Factors” in Company’s management’s discussion and analysis for the period of August 30, 2020 (“MD&A”), dated October 1, 2020, which is available on the Company’s profile at www.sedar.com.