Island Pharmaceuticals Advances Dual-Antiviral pipeline with Promising Dengue & Broad-Spectrum Results
Island Pharmaceuticals (ASX:ILA) has marked FY2025 as a pivotal year, highlighted by encouraging Phase 2a/b trial data for its dengue fever treatment, ISLA-101, and the acquisition of the broad-spectrum antiviral, Galidesivir. Thes developments position the company with a two-pronged approach to tackling global infectious diseases.
The PROTECT trial, conducted in collaboration with the US Army and the State University of New York, evaluated ISLA-101 as both a preventative measure and a treatment for dengue fever. Results demonstrated a significant reduction in both viral load and symptoms in patients who received ISLA-101 prior to viral challenge. Measurable drug effects were also observed in patients treated after infection, supporting further clinical advancement for both prophylactic and therapeutic applications against mosquito-borne viruses.
Concurrently,Island Pharmaceuticals finalized the acquisition of Galidesivir from BioCryst Pharmaceuticals. Galidesivir has shown in vitro activity against over 20 RNA viruses, including ebola, Marburg, Zika, and yellow fever. The asset is backed by existing Phase 1 safety data and a prosperous non-human primate study demonstrating efficacy against marburg virus.Island plans to pursue approval via the US FDA’s Animal Rule,a pathway allowing registration based on animal efficacy data when human trials are impractical. Management anticipates that a single additional animal study may be sufficient to support a New Drug Submission, potentially qualifying the company for a Priority Review Voucher, currently valued at over US$150 million, and opening opportunities for US government stockpiling.
The company reported a net loss of $3.9 million for the year, an increase from $2.9 million in FY2024,attributed to increased investment in research and development. Island Pharmaceuticals concluded the year with $7.3 million in cash, a significant improvement from the $1.7 million held the previous year. This financial strengthening was bolstered by a $3.5 million placement, $2.7 million from option exercises, and a committed $3.6 million placement preceding the ISLA-101 data release. Post-year-end, further funding exceeding $1.1 million was secured through option conversions by major shareholders.
Corporate changes included the appointment of Jason Carroll as Chairman and Christopher Ntoumenopoulos as a Non-Executive Director, alongside the departure of several long-serving directors, resulting in a streamlined board structure.
CEO David Foster characterized the year as “transformational,” emphasizing the clinical data and acquisition as validation of the company’s long-term strategy. Chairman Jason Carroll expressed the board’s optimism as the company moves forward with two late-stage antiviral candidates.
