Periodic Reporting for period 1 - MP-101 (a novel drug for prevention and treatment peripheral neuropathy symptoms)
Reporting period: 2019-01-01 to 2019-04-30
There were over 18 million new cases of cancer worldwide in 2018, out of which about 3.7 million were in Europe. Up to 40% of all cancer patients develop chemotherapy-induced peripheral neuropathy (CIPN). CIPN is a condition that affects the peripheral nervous system, leading to long-lasting, painful, and difficult-to-treat symptoms. At present, only a few therapies are available for the treatment of peripheral neuropathy with moderately effectiveness, but none is specifically developed for CIPN and with substantial side effects for patients. Metys Pharmaceuticals Ltd. has developed MP-101 - a novel, non-sedating, painkiller for prevention and for treatment of CIPN-associated neuropathic pain.
From 1 January until 30 April 2019, Metys Pharmaceuticals Ltd. used Phase 1 funding to carry out an extensive study with the objective to identify the technical and business requirements of delivering a finished and legally approved commercial version of MP-101. From a technical point of view, Metys reviewed in detail the current stage of MP-101 and defined a sound development plan for its approval and commercialisation. From a business point of view, the Company performed a deep market analysis, verified its business model and established a sound go-to-market strategy.
Metys’ novel drug aims at a clinical application in response to yet unanswered medical needs of cancer chemotherapy-induced peripheral neuropathy symptoms. So far, in fact there has been very limited progress in discovery of agents that show benefit in the treatment of CIPN. MP-101 has potential to become the first drug approved for the prevention and management of CIPN.