ARDS - Edesa Biotech receives C$14M for COVID-19 study

Edesa Biotech ([[EDSA]] +14.4%) has secured a commitment of up to C$14M from the Government of Canada to complete the Phase 2 portion of a Phase 2/Phase 3 clinical study of its investigational drug, EB05, for the treatment of hospitalized COVID-19 patients.The funding will also help fund certain pre-clinical research for the company's experimental therapy, including treatments for other respiratory pathogens.EB05 is an experimental monoclonal antibody that Edesa believes could regulate the overactive immune response associated with Acute Respiratory Distress Syndrome (ARDS) - the leading cause of death in COVID-19 patients.Edesa's ongoing Phase 2/3 study is an adaptive, multicenter, randomized, double-blind, placebo-controlled study to evaluate the efficacy and safety of EB05. Up to 316 patients will be enrolled in the first phase of the trial.

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Edesa Biotech receives C$14M for COVID-19 study