Privately held UK pharma SpectrumX is still planning to IPO, sources close to the company confirmed to The Armchair Trader this week. SpectrumX is focused on bringing to market a ground-breaking respiratory therapy and the roll-out of the most powerful hand sanitiser in the world to the NHS and other healthcare clients.
While still privately held, the company is being watched closely by the biotech investment market. Sources close to the firm were not able to provide us with a detailed timescale for the IPO.
What does SpectrumX make?
Both SpectrumX products utilise unique patent pending HOCl formulations. HOCl is naturally occurring in human’s white blood cells and is a key contributor to mankind’s evolution and protection over millions of years. It is human safe whilst also being the most effective disinfectant known to mankind.
SpectrumX has just announced its partnership with a leading UK-based specialist contract manufacturing group with global reach to advance the production of its ground-breaking anti-pathogenic medicine for use in its planned Phase I clinical trials. This group is described as having “unparalleled experience working with pharmaceutical companies in MHRA-compliant medicine production.”
SpectrumX says it plans to use its partner’s Good Manufacturing Practice (GMP)-certified facility to produce SPX-001, the medical product based on the SPC-069 drug substance, for clinical trials.
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Why get excited about SpectrumX?
SPX-001 is a potential novel treatment, based on HOCl, for respiratory infections and is a new drug candidate for Europe with broad-spectrum anti-pathogenic properties. SpectrumX will continue to produce its proprietary HOCl chemistry, essential to SPX-001’s success, at its production facility in Knutsford.
The Medicines and Healthcare products Regulatory Agency (MHRA) requires that drugs for trials must be manufactured in a GMP approved facility.
SpectrumX’s chosen partner is a leader in contract drug development and manufacturing services and possesses the expertise required to streamline the roll-out of the production of the SPX-001 investigational medicinal product for use in SpectrumX’s clinical trials programme. By partnering in this way, SpectrumX will be well-prepared for an upcoming MHRA scientific advice meeting.
Damien Hancox, Chief Executive Officer of SpectrumX, sounded enthusiastic: “This partnership will hasten the process of getting SPX-001, our SPC-069-based medical product, to clinical trials and may provide us an opportunity to commercialise our lead pharmaceutical product in a shorter time frame.”
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