OKYO Pharma Reports Acquisition of Shares by Chairman
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OKYO Pharma Reports Acquisition of Shares by Chairman
OKYO Pharma Limited (NASDAQ: OKYO), a clinical-stage biopharmaceutical company, has announced that it was notified that Panetta Partners Limited, an entity in which Gabriele Cerrone, the Executive Chairman, has a beneficial interest, purchased 50,000 of the Company’s ordinary shares on NASDAQ at a price of US$1.05 per share. This acquisition increases Mr. Cerrone's total shareholding to 9,721,570 shares, which represents 28.73% of the issued share capital.
Understanding OK-101
OK-101 is an innovative lipid-conjugated chemerin peptide agonist aimed at targeting the ChemR23 G-protein coupled receptor found on immune cells in the eye that are responsible for inflammatory responses. The development of OK-101 employs a membrane-anchored-peptide technology that results in a long-acting drug developed specifically to treat dry eye disease (DED). The formulation of OK-101 is designed to enhance its efficacy with a lipid anchor, which improves the retention time of the drug within the ocular environment. In pre-clinical and clinical evaluations, OK-101 exhibited significant anti-inflammatory and pain-relief efficacy in models for dry eye disease and neuropathic corneal pain (NCP), a condition associated with discomfort that currently lacks FDA-approved therapies.
About OKYO Pharma Limited
OKYO Pharma Limited (NASDAQ: OKYO) is focused on the development of therapies to treat inflammatory dry eye disease and neuropathic corneal pain. The company lists its ordinary shares for trading on the NASDAQ Capital Market. OKYO is at the forefront of discovering and developing novel therapeutics tailored for these ocular conditions, emphasizing its commitment to addressing significant unmet medical needs. In addition to the recently concluded Phase 2 clinical trial for DED, OKYO has plans to initiate another Phase 2 trial for OK-101 to tackle NCP in affected patients, showcasing the company's proactive approach to drug development.
Company Contacts
For inquiries, OKYO Pharma Limited can be contacted as follows:
CEO and General Enquiries
Gary S. Jacob, Chief Executive Officer - 917-497-7560
Business Development & Investor Relations
Paul Spencer - +44 (0)20 7495 2379
Frequently Asked Questions
What is the significance of Gabriele Cerrone's share acquisition?
The acquisition indicates Gabriele Cerrone's strong confidence in OKYO Pharma's future and its growth potential, aligning his interests with those of shareholders.
What is OK-101 and its intended use?
OK-101 is a novel therapeutic entity designed to treat inflammatory dry eye disease and neuropathic corneal pain, employing innovative drug delivery mechanisms.
What is the current status of OKYO Pharma's clinical trials?
OKYO Pharma has recently completed a Phase 2 trial for DED and is preparing to initiate a Phase 2 trial targeting NCP to further evaluate the efficacy of OK-101.
How does OKYO Pharma stand out in the biopharmaceutical industry?
With a focus on ocular therapies, OKYO Pharma aims to fill the gaps in treatment options available for dry eye disease and neuropathic pain, addressing significant unmet medical needs with innovative approaches.
How can interested parties learn more about OKYO Pharma?
For more information about OKYO Pharma and its therapeutic developments, interested parties can visit their website.
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