BioSig Technologies, a medical technology company commercializing a proprietary biomedical signal processing platform, announced that its majority-owned subsidiary NeuroClear Technologies, acquired the rights to develop a novel pharmaceutical to treat coronavirus disease 2019 (COVID-19).
 
In a preliminary internal review, the orally administered, broad-spectrum anti-viral agent Vicromax demonstrated strong activity against COVID-19 in cell cultures in laboratory testing. In this analysis, Vicromax was added to a tissue culture assay for SARS-CO-2 coronavirus (the causative agent for COVID-19) and an anti-viral effect was observed, which led to a reduction of over 90% of infectious viruses. The company intends to pursue development of this agent for the treatment of COVID-19 through FDA-approved clinical trials.
 
The product candidate already completed Phase I and three Phase II trials in other indications, and underwent extensive animal testing and human clinical experience. The company expects that Vicromax could be used alone or in a combination with other anti-viral agents or immune modulators.
 
“Stopping the COVID-19 pandemic and preventing similar viral threats in the future must be the number-one priority of all of us in the healthcare community,” said Kenneth Londoner, chairman and chief executive officer, BioSig Technologies. “This very promising anti-viral is the result of tireless efforts by an accomplished group of pharmaceutical industry veterans, and we are doing everything in our power to ensure it gets tested and brought to market as soon as possible.”
 
The company intends to develop Vicromax and take it through clinical trials under a new NeuroClear subsidiary, ViralClear Pharmaceuticals. The company appointed Nick Spring as chief executive officer of ViralClear and Steve King as chief operating officer.
 
Mr. Spring is a seasoned global executive and entrepreneur with experience spanning both human and animal health. During his extensive career at Merck & Co., he led the worldwide franchise for live viral human vaccines as well as the strategic team that crafted the U.S. launch plan for the HPV vaccine, Gardasil, which became a billion-dollar franchise. Most recently, Mr. Spring was founder and chief executive officer of Humanitas, a biotechnology and life sciences consulting firm that advises blue-chip global companies.
 
Mr. King is an experienced pharmaceutical executive with proven skills in business development, licensing, and small-molecule drug development and commercialization. Most recently, he served as president at 21159 Pharma, a strategic consulting and business development company. Previously he was senior vice president at Pii (Pharmaceutics International Inc), building the contract development and manufacturing organization (CDMO) in the U.S. and the UK.