Synairgen's SNG001 will prevent cell damage in fight against coronavirus pandemic

UK biotech Synairgen (AIM: SNG) saw its share leap more than 52% to 49.00 pence by close of trading on Friday, after it revealed it has received approvals from the Medicines and Healthcare products Regulatory Agency (MHRA) and Health Research Authority (HRA) to conduct a Phase II trial of its lead product SNG001 (inhaled interferon-beta-1a) in coronavirus (COVID-19) patients.

"We have worked intensively with the relevant authorities and collaborators to enable SNG001 to be assessed in COVID-19 patients. SNG001 has been well tolerated in clinical trials in over 200 respiratory patients to date and has accelerated lung function recovery in two Phase II asthma trials in patients with a cold or flu infection,” said Synairgen chief executive Richard Marsden, adding: “A successful outcome from this trial in COVID-19 patients would be a major breakthrough in the fight against this coronavirus pandemic."

SNG001, which has been licensed to AstraZeneca (LSE: AZN under a $230 million deal, will prevent cell damage in a similar fashion to that of multiple sclerosis (MS) patients, according to analytics firm GlobalData.