"Go" or "No Go" Decision in Second Half of Year:Over five months ago CZO entered the expanded research agreement with McMaster. Before COVID Dr. Kolb and Dr. Ask assisted Avalyn Pharma which preclinically raised C$80 million for an inhaled IPF drug. Unlike Avalyn's drug CZO's PGX-YBG could be a standalone or used in combination. CZO's drug could also be used for COVID with an existing marketed drug. COVID wasn't an issue when Avalyn entered its $80 million financing. >40% of all deaths worldwide are also due to fibrosis and PGX-YBG could be used for more than lung fibirosis.
Whereas Avalyn raised C$80 million cash preclinically CZO's market cap today is only C$57 million.
CZO expects a 'go' or 'no go' decision for human clinical testing in the second half of the year.
A number of papers are being worked on currently.
“It is very exciting to see that modulators of pro-fibrotic macrophages emerge as novel anti-fibrotic therapeutic agents potentially useful for patients with fibrotic disease,” commented Dr. Ask. “We are very pleased to continue to contribute toward the development of this exciting therapeutic strategy.” Aug. 2022 News Release