Marietta, Ohio, July 7, 2020
ProtoKinetix, Incorporated (www.protokinetix.com) (the “Company” or “ProtoKinetix”) (OTCQB:PKTX), a clinical-stage biomedical company, provides the following update regarding upcoming news in its Dry Eye Disease Program.
Dry Eye Disease (DED) – ProtoKinetix is expecting closure of agreements for the first steps in a roll-out of a new product line development that will test AAGP® for treatments related to Dry Eye Disease. Proof of concept work and basic formulation have been completed.
Current project updates are expected from the following:
- EyeCRO has been contracted to conduct confirmatory testing and dose ranging. Early progress reports from EyeCRO will be received over the next two weeks.
- Charles River have been contracted to conduct pilot toxicology studies, to start at the end of July 2020. Early stage indications are expected by mid-August 2020.
- Stability tests have been completed by Ambiopharm. The tests were conducted at room temperature, in a provisional formulation, under non-sterile conditions. These preliminary results are extremely encouraging.
“We are pleased with the progress made with respect to the expansion of ProtoKinetix’s Dry Eye Disease program.” – said Clarence E. Smith, President and Chief Executive Officer of ProtoKinetix.
Dry Eye Disease Market Overview
According to market research published by Mordor Intelligence LLP, studies of the Dry Eye Disease market indicated a value of approximately USD 4.5 billion in 2018, and the market is expected to reach up to USD 6.2 billion by 2024, with an anticipated CAGR of 5.23%, during the forecast period (2019-2024). The growth of dry eye related diseases may include several factors, such as aging, a decrease in the supportive hormones, systemic inflammatory diseases, ocular surfaces diseases or surgeries affecting the cholinergic nerves, which stimulate tear secretion.
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