Channel Therapeutics Corp. (CHRO), a clinical-stage biotechnology company focused on developing non-opioid pain therapeutics, on Wednesday, announced positive data for a depot formulation of a NaV1.7 Inhibitor in preclinical models for acute pain.
NaV1.7 inhibitors are a class of drugs that can potentially treat pain disorders without causing motor or cognitive impairment.
In the preclinical studies with rodents, the company's nerve block formulations, administered as a sciatic nerve block, demonstrated significant improvements over the current standard of care, bupivacaine, in both efficacy and duration for acute and postoperative pain management.
In the thermal hyperalgesia test, three of the four NaV1.7 inhibitor formulations demonstrated better efficacy than bupivacaine, with the results remaining statistically superior to placebo for more than two days longer than bupivacaine.
One formulation showed an extended effect, lasting over four days. In the mechanical allodynia test, three formulations also outperformed bupivacaine in terms of efficacy and duration, aligning with the thermal hyperalgesia findings.
Channel's NaV1.7 inhibitors offer a promising alternative to traditional nerve block therapies as they do not impact mobility, a significant advantage over current treatments, which can cause temporary paralysis in the affected area. This feature may lead to better outcomes for post-surgical physical therapy.
CEO Frank Knuettel II highlighted the results, noting that these findings support the belief that NaV1.7 is a potent target for pain relief therapies. The company is positioning its formulations to potentially reduce post-surgical opioid usage, tapping into a market with substantial growth opportunities.
According to BioSpace, the post-operative global pain market was valued at $2.6 billion in 2023, with Exparel, a bupivacaine liposome injectable suspension, generating approximately $538 million in revenue.
Channel is also advancing its research into eye drops for the treatment of various types of eye pain, with results expected in late January 2025.
The promising data from these preclinical studies strengthens the company's development path, showing significant market potential for their NaV1.7 inhibitor formulations in treating acute pain and reducing opioid reliance.
CHRO closed Tuesday's (Dec.17.2024) trading at $0.61, up 4.80%. In premarket trading, the stock is up by 11.38% at $0.69.
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