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ChitogenX Inc (CSE:CHGX, OTCQB:CHNXF) provided highlights for its third quarter of fiscal year 2024, which included the reduction of operating losses by 73% fiscal year to date compared with the previous year. The clinical-stage regenerative medicine company also said it improved its working capital by $3.6 million since fiscal 2023 year end.
ChitogenX Inc (CSE:CHGX, OTCQB:CHNXF) told investors that its proprietary chitosan/platelet-rich plasma (PRP)-based biopolymer matrix, ORTHO-R, has successfully demonstrated protection from joint degeneration post-meniscal repair surgery in a large animal study. The clinical-stage regenerative medicine company said a study of 22 mature sheep provided the first evidence that treatment including its chitosan-based biopolymer and PRP prevents structural changes to radially incised and sutured menisci in a large animal model.
ChitogenX Inc (CSE:CHGX, OTCQB:CHNXF) told investors it has launched a new development program targeting significant unmet medical needs in the multi-billion dollar burn and skin repair market. Proof of concept studies have already been completed and results will be announced in the coming weeks, the company said.
Significant unmet medical needs in US $19B burn and skin defects market New patent in US and Canada supports ChitogenX' proprietary chitosan-based biopolymer as ideal combination with cellular regeneration technologies Potential for streamlined regulatory process, and faster path to commercialization Both burn and skin repair program to be primarily funded by recently awarded $3.4 M grant MONTREAL , Nov. 7, 2023 /PRNewswire/ - ChitogenX Inc., (CSE: CHGX) (OTCQB: CHNXF) ("ChitogenX" or the "Company"), a clinical-stage regenerative medicine company, today announced that it has launched a new development program targeting significant unmet medical needs in the burn and skin repair market, currently valued at US $19B and growing at 5% + CAGR through 2032. Proof of concept studies have already been successfully completed and results will be the subject of news releases in the coming weeks.
ChitogenX Inc (CSE:CHGX, OTCQB:CHNXF) told investors that it made significant progress in deleveraging its balance sheet and improving its working capital as it continued to advance its ORTHO-R technology platform during the second quarter of its 2024 financial year. Among the corporate highlights for the quarter ended July 31, 2023, the company noted an agreement with Bruder Consulting & Venture Group to serve as its exclusive advisory firm for the pursuit of new strategic development partnerships.
ChitogenX Inc (CSE:CHGX, OTCQB:CHNXF) told investors it has received a notice of allowance for a key patent in the US and Canada. The company noted that the patent confers protection for usage of the chitosan-based biopolymer as a stand-alone scaffold, or in combination with other therapeutic agents such as biologics.
ChitogenX Inc (CSE:CHGX, OTCQB:CHNXF) said it has concluded the enrolment of 20 subjects in its US multi-site rotator cuff tear repair Phase I/II clinical trial entitled “A Blinded, Randomized Controlled Study Investigating the Safety of Ortho-R for Rotator Cuff Repair Compared with Standard of Care: ORT-2020-01 (Ortho-R Study).” As per the clinical trial protocol, the company said all study activities will be completed by June 2024 after it has completed the clinical follow-up and safety analysis for the 20 recruited subjects.
ChitogenX Inc (CSE:CHGX, OTCQB:CHNXF) has noted that patient recruitment for its rotator cuff repair Phase I/II trial reached an important milestone in the first quarter to April 30, 2023, while its ORTHO-R soft-tissue residency properties were confirmed in a grant-supported large animal meniscus study. "During the first quarter, the Company further demonstrated the versatility of its ORTHO-R technology platform with the confirmation of its residency properties in a second indication following the successful completion of its large animal meniscus tear repair study,” Philippe Deschamps, ChitogenX president, and CEO, said in a statement.
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