Codebase Ventures receives positive technical study results for hydroxychloroquine patch technology

Codebase Ventures Inc (CSE:CODE) (FRA:C5B) (OTCQB:BKLLF) on Thursday provided an update on the continued development of its proposed transdermal delivery technology for hydroxychloroquine (HCQ). 

The company said it had engaged TRPL (Transdermal Research Pharm Laboratories) of Long Island City, New York, to conduct a feasibility study — which indicates that HCQ has all the required parameters to be a transdermal candidate. 

Moreover, in recognition of the potential value of this legacy asset and in light of the company’s current focus on the blockchain and related emerging technology ecosystem, Codebase said it is investigating spinning out its interest in the transdermal delivery technology for HCQ. 

READ: Codebase Ventures explores non-fungible token investments

Codebase said details on any such spin-out will be provided in the coming weeks as it explores deal structures with its partners to ensure its shareholders benefit. 

Codebase noted that it has a 49% interest in Glanis Pharmaceuticals Inc, an arms-length private company that holds provisional US patents for transdermal and oral mucosal delivery of hydroxychloroquine and chloroquine (CQ). The drug has been approved by the US Food and Drug Administration (FDA) as a treatment against malaria, lupus, and rheumatoid arthritis.

On the basis of positive results from the feasibility study, Codebase said the parties are beginning the process from a provisional to a full patent.

Highlights include:

• The market for HCQ forecast to reach $6 billion by 2027 as FDA-approved treatment for malaria, lupus, and rheumatoid arthritis;
• Codebase receives positive technical feasibility study results indicating HCQ has all the required parameters to be delivered transdermally; and
• HCQ transdermal treatment for malaria, lupus, and rheumatoid arthritis patients likely to resolve oral tablet side effects as it would bypass the first-pass metabolism.

Meanwhile, Codebase said it has received interest in the application of HCQ in a transdermal patch for underserved patients with malaria, lupus, and rheumatoid arthritis, as current oral tablet delivery of HCQ comes with side effects that transdermal delivery is likely to resolve.

Transdermal delivery can provide a drug plasma concentration at a predetermined rate for a predetermined period of time, Codebase said. Safe, consistent doses will make the drug much more effective at reduced dosages required because the GI system is avoided. 

Codebase said this new delivery method should eliminate or reduce the number of the common side effects of the oral tablet treatment, including nausea, vomiting, loss of appetite, diarrhea, dizziness, or headache, by providing controlled constant delivery.

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Story by ProactiveInvestors