Bioscience industry holding company XPhyto Therapeutics (CSE: XPHY) (OTCQB: XPHYF) (FSE: 4XT) is accelerating its mission to advance next-generation drug delivery, diagnostic products and new active pharmaceutical ingredient investment opportunities following a series of successes in 2020 that kept the company productive despite global pandemic conditions.
The goals for the coming year include wholly owned subsidiary Vektor’s construction of a new commercial drug manufacturing facility in Germany, clinical pilot studies for four drug formulation programs XPhyto built up during 2020, taking its COVID-19 PCR test and at least one of its novel, in-house-manufactured biosensor products to market, and the introduction of various psychedelic compounds into Vektor’s drug formulation platforms for the potential treatment of mental health conditions such as depression, anxiety, addiction and trauma-related stress disorder (https://ibn.fm/JgzXk).
“2021 is expected to be a transformative year for Vektor. We will be building on significant momentum from 2020 as we advance our drug formulation, contract development, and psychedelic business,” Prof. Dr. Thomas Beckert, managing director of Vektor Pharma TF GmbH, stated as part of the company’s announcement. “The addition of scalable in-house manufacturing capability creates the potential for significant growth across virtually all of our development and commercialization programs.”
XPhyto was founded in 2017 and in 2019 began listing its common shares on the Canadian Securities Exchange, continuing to extend its reach internationally since then. The company’s lead diagnostic product is a rapid and highly portable PCR diagnostic test expected to play a significant role in COVID-19 testing for economically devastated travel industries, as well as other sectors. XPhyto anticipates European commercial (CE-IVD) approval in the first quarter of this year.
Vektor is a German narcotics developer and researcher that has been a leader in the design, testing and manufacture of thin film drug formulations such as skin patches and under-the-tongue strips that deliver active pharmaceutical ingredients (“API”) for over a decade. Its products primarily target pain and other neurological conditions.
XPhyto’s planned drug pilot studies include a Q1 program for Rotigotine, a transdermal patch for Parkinson’s disease patients; a sublingual cannabidiol (“CBD”) strip for epilepsy patients in Q2; a Q3 program for a sublingual tetrahydrocannabinol (“THC”) strip for anorexia and nausea sufferers and an oral CBD / THC strip for people with spasticity difficulties as a result of Multiple Sclerosis.
The “open label, randomized, crossover, two-period, two-sequence, single dose” studies will assess the relative bioavailability of each product and will lead to a final pivotal study and application for regulatory approval if the results are successful.
Potential commercialization and licensing agreements being discussed may lead to enhanced monetization opportunities for the company.
For more information, visit the company’s website at www.XPhyto.com.
NOTE TO INVESTORS: The latest news and updates relating to XPHYF are available in the company’s newsroom at https://ibn.fm/XPHYF
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