Find Therapeutics intends to develop FTX-101 as a potential treatment option for chronic optic neuropathy. Credit: DuxX / Shutterstock.

Canadian biopharmaceutical company Find Therapeutics has dosed the first subject in a Phase I trial of its lead compound, FTX-101, as a potential treatment for chronic optic neuropathy.

The company received approval for the two-part trial from the US Food and Drug Administration earlier this year.

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Part I is a double-blind, randomised, placebo-controlled, single-ascending dose (SAD) study enrolling 40 subjects, while the second part is a multiple-ascending dose (MAD) study that will enrol 24 subjects.

The study aims to evaluate the safety, tolerability and pharmacokinetics of FTX-101 versus placebo in healthy volunteers.

Find Therapeutics expects to release data from the trial in the first half of next year.

FTX-101 is designed as a remyelinating agent that could restore vision for individuals suffering from chronic optic neuropathy, a condition resulting from demyelination in the visual pathways.

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The therapeutic peptide modulates the Plexin A1 / Neuropilin 1 receptor complex in the brain to promote remyelination.

Preclinical data have shown that FTX-101 demonstrates strong myelin repair activity.

Find Therapeutics CEO Philippe Douville said: “The initiation of this study is a significant milestone for both our company and individuals who suffer from chronic optic neuropathy.

“In this study, we will build on the large body of preclinical evidence demonstrating FTX-101’s effects in models of autoimmune disease.

“A therapy of this type would represent a major step forward in finding the first treatment to improve the lives of people afflicted with chronic optic neuropathy.”

Founded in 2020, Find Therapeutics aims to develop next-generation therapies for inflammatory autoimmune diseases.

The company has been supported by CTI Life Sciences, adMare BioInnovations, Domain Therapeutics and Investissment Québec, as well as SATT-Conectus and the University of Strasbourg.

Last month, it raised C$11m ($8.1m) in a convertible note financing round held to advance FTX-101 into Phase I clinical studies.

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