GlobeStar Therapeutics Corporation (GSTC) has signed a memorandum of understanding (MoU) with Advanced Innovative Partners (AIP) to design and implement clinical trials for Project Amethyst for the treatment of multiple sclerosis (MS).

The MoU implementation is subject to the execution of definitive agreements as well as other customary conditions.

As part of the collaborative MoU, GSTC will thereby be responsible for manufacturing, sales, supply chain, and financing of Project Amethyst.

AIP will introduce potential partners for collaborating in the trial, manufacturing and distribution.

GlobeStar Therapeutics president and CEO James Katzaroff said: “Given AIP’s strong global relationships with universities, medical associations and hospitals, with its considerable experience in clinical trials, we are delighted that AIP will collaborate with GlobeStar to advance trials for Project Amethyst.

“My relationship with AIP’s founder, Stanley Satz extends over decades, and I am grateful for his and AIP’s support.”

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By GlobalData

GSTC has gained exclusive global license rights for Project Amethyst including all patents and its applications.

Advanced Innovative Partners chairman and chief science officer Stanley Satz said: “We were impressed with the clinical results obtained in Italy for treatment of Multiple Sclerosis patients using Project Amethyst.

“These results provide a good foundation for establishing more comprehensive clinical trials with AIP’s partners. We are thrilled to advance the opportunities for Project Amethyst.”

A total of 150 volunteers were enrolled in Italy with 90 participants with MS disease aged between 25 to 65 years and remaining were healthy volunteers.

An improvement in balance and motor control of all extremities was observed in all subjects after 45 days of treatment with most being reported was improvement in bladder control.