De Bilt, Utrecht Dec 9, 2021 (Issuewire.com) - Code Pharma is a Dutch pharmaceutical company developing an antiviral drug, Codivir, against COVID-19 and RNA viruses. Also, the global company specialises in the development, manufacturing, and marketing of cost-effective treatments for other infectious and oncological diseases through the use of novel peptides. Several scientific data about Codivir’s mechanism of action suggest that Codivir performs well against mutations of the covid-19 virus, including the new Omicron variant.
As a result of completing a phase I study on this antiviral drug, the company is now initiating a phase II double-blind controlled study in different countries. As it stands, Zyon Ayni’s company has already received emergency approvals from various countries for mass production of Codivir in different production sites worldwide according to the approvals.
Code Pharma plans to launch an Initial Public Offering (IPO) on the NASDAQ and Switzerland’s SIX Swiss Exchange. Before this announcement, Zyon Ayni’s company had launched a limited fundraising round for international expert investors, allowing them to acquire its shares at a 20% discount with a minimum of USD 100,000 starting from November 25, 2021. All these have made the valuation of Code Pharma rise to USD 250 million.
CEO and Founder of Code Pharma, Zyon Ayni, says: “The entire team of Code Pharma is very excited today. We are a company of people playing an important role in the race to develop a cure for COVID-19. Our drug Codivir, was first discovered at the Hebrew University in Israel and it has a very good safety profile and very impressive antiviral activity, both under laboratory conditions and in our Phase I clinical trials. As stated earlier in other public announcements, scientific data on Codivir’s mechanism of action has proven strongly that our drug is effective against all mutations of the coronavirus, including the newly discovered Omicron variant. We have received several emergency approvals and orders for production even before the results of the Phase II study. Hence, we are at a critical stage of exceptionally strong commercial potential and essentially a potential breakthrough in the field of antiviral therapy for Covid-19, Influenza, and other RNA viruses.”
Code Pharma is functioning in a market with significant growth potential, considering the high-rise incidences of viral infections. As it stands, the global antiviral drugs treatment market was valued at USD 52 billion in 2020 and projected to reach a market value of about USD 75 billion by 2031, according to a report published by the business intelligence agency, Visiongain.
Media Contact
Zyon Ayni *****@codepharma.com https://www.codepharma.com
