Funding secured for continued rollout phase 3 trial…
Im excited to see what they can produce at mid trial analysis. Always believe in the drug and now getting close to the results that matter. 120mil market cap for a drug with this potential and funding position much improved, im a tentative buyer. Small small volume
10:064
100
< Paradigm Secures US$27M to...
PARAIGM BIOPHARMA
ASX RELEASE
1 July 2025
PARADIGM SECURES USD $27 MILLION CONVERTIBLE NOTE FACILITY
TO ADVANCE PHASE 3 KNEE OA STUDY
Key Highlights
- USD $27 million (AUD $41.2 million) funding facility secured to support ongoing execution of the global Phase 3 program.
- Initial USD $7 million tranche drawn to fund patient recruitment, trial operations and regulatory milestones.
- Paradigm fully funded through site activations, 100% recruitment, and mid 2026 interim analysis.
- Paradigm will hold a webinar today at 11:30am (AEST), to discuss the
- PARA_OA_012 and recent news including today's announcement. See details
Paradigm Biopharmaceuticals Ltd (ASX:PAR) ("Paradigm" or "the Company"), a late-stage drug development company focused on delivering new therapies to address unmet medical needs, is pleased to announce that it has secured a USD $27 million (AUD $41.2 million) funding facility from Obsidian Global Partners to support the ongoing execution of its global phase 3 clinical trial (PARA_OA_012) evaluating injectable pentosan polysulfate sodium ("iPPS") for the treatment of knee osteoarthritis.
The facility has been structured as a convertible note with an initial drawdown of USD $7 million, providing immediate working capital to support site activation and clinical trial operations. The balance of the facility is available at Paradigm's discretion, offering operational flexibility and strategic control over future funding needs.
This capital injection ensures that Paradigm is fully funded with runway through several key clinical milestones, including:
- Activation of all planned clinical trial sites across Australia and the United States;
- Completion of 100% patient recruitment, anticipated in 1H calendar year 2026;
- Delivery of the interim analysis on the first 50% of participants, anticipated mid calendar year 2026.
The interim analysis is expected to serve as a major program milestone and a potential de-risking event. Should the interim data support the primary efficacy and safety objectives, it would provide greater confidence in the final outcome of the trial and validate the ongoing investment in the program, and thereby represent an inflection point in the value of the program. On the other hand, should the interim data fall short of supporting the primary efficacy and safety objectives, attaining the study's primary efficacy and safety objectives would still be very possible.
Paradigm's Managing Director, Paul Rennie stated: "This funding facility represents a valuable instrument to ensure continued clinical execution while maintaining strategic flexibility. Importantly, it allows Paradigm to pursue key milestones in the phase 3 program with confidence, while preserving optionality around future capital needs.
III
Portfolio
Watch
News
Markets
More