Paradigm Biopharmaceuticals Ltd Announces Resignation of John Gaffney as Independent Non Executive Director, Effective Immediately

Paradigm Biopharmaceuticals Limited is a late-stage drug development company. It is engaged in researching and developing therapeutic products for human use. It is focused on the development of injectable pentosan polysulfate sodium (iPPS/PPS) for the treatment of osteoarthritis (OA). Pentosan polysulfate sodium is a semi-synthetic drug manufactured from the wood chips of European beech trees. Extracted glucurono-xylans are sulfated to produce a negatively charged product that mimics glycosaminoglycans (GAGs). It develops PPS under the brand name Zilosul. PPS clears cellular and tissue accumulation of GAGs. PPS also inhibits the synthesis of the metalloproteinase, MMP-3 (Troeberg) involved in degrading cartilage. PPS also include treatment of joint function, mobility, and pain in patients with mucopolysaccharidoses (MPS); treating alphavirus-induced arthralgia (such as Ross River virus and Chikungunya); chronic heart failure (HF) and acute respiratory distress syndrome (ARDS).