Noorik Biopharmaceuticals Ltd. ("Noorik"), a clinical-stage biopharmaceutical company repurposing micro-dose ambrisentan for the treatment of kidney, liver, and respiratory diseases, signed a contract with the Federal Government of Switzerland to develop ambrisentan as a treatment for patients with Severe COVID-19. The investment, under the Federal Funding Programme for COVID-19 Medicines initiative, will enable the acceleration of the clinical development of ambrisentan. The contract will entitle the Federal Government of Switzerland to certain benefits and ensure prompt access to this potentially life-saving therapy.

Micro-dose ambrisentan is currently under clinical evaluation in adult patients with Severe COVID-19 (Clinicaltrials.gov - NCT04771000). The primary objective of the ongoing trial is to determine whether ambrisentan can prevent the progression to respiratory failure and reduce the need for mechanical ventilation, among others.

"There is a significant unmet medical need in treatment options for patients hospitalised with Severe or Critical COVID-19. As the evidence of the vascular complications of SARS-CoV-2 mounts, Acute Pulmonary Hypertension may be one potential factor affecting respiratory function in patients with Severe and Critical COVID-19. We believe that micro-dose ambrisentan, a pulmonary vasodilator, may provide considerable relief to some of these patients" commented Elmar Schnee, Chairman of the Board of Directors of Noorik. "The signing of this agreement with the Government of Switzerland will enable us to accelerate the development of ambrisentan and hopefully make this therapy broadly available as soon as possible."