60 Degrees Pharmaceuticals, Inc. (SXTP; SXTPW) a firm focused on developing new medicines for vector-borne disease, on Thursday announced that it has exercised an exclusive license with Florida State University to use large-scale purification techniques to extract castanospermine from the seeds of Castanospermum australe.
The deal was an option under its agreement with Florida State University, made in April 2025.
Following the announcement, SXTP is up 5.39% at $5.08.
Castanospermum australe is commonly known as the Australian Chestnut, the Moreton Bay Chestnut, and the Black Bean Tree. This primarily grows in the Australian states of Queensland and New South Wales, as well as in Florida, Hawaii, and California.
Since signing its option agreement with FSU in April 2025, the firm performed safety testing of Australian chestnut extract to ensure compliance with relevant regulatory guidance and has developed and tested various prototype capsule formulations for oral delivery.
Notably, Castanospermine is also a metabolite of celgosivir, a product that has been evaluated in clinical trials involving more than 500 patients with HIV and Hepatitis C but never approved by regulators.
Although celgosivir is no longer in commercial development for those indications, 60 Degrees Pharmaceuticals is planning a clinical development campaign to reposition Celgosivir for respiratory viruses & dengue, a host-targeted ß-glucosidase inhibitor.
According to the company, similar to other dengue antivirals, celgosivir has shown diminished activity in curing dengue infection in animal models when administered after animals become symptomatic.
Also, the firm mentioned that according to recent scientific literature, at low doses, castanospermine modulates carbohydrate metabolism, altering glycogen, glucose levels, and other clinical markers. In animal models, high doses have been shown to affect disease outcomes across several therapeutic areas through immunomodulation.
The Company's lead product, ARAKODA (tafenoquine), achieved U.S. Food and Drug Administration approval for malaria prevention in 2018.
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