Covid nasal spray firm seeks big backer

AN ISRAELI doctor working on an experimental treatment for Covid is looking to team up with the world’s largest pharmaceutical firms, such as AstraZeneca, to develop the treatment.

Nadir Arber has been working on a drug called EXO-CD24 that could turn severe cases of Covid-19 into manageable medical events. The drug, now in late stage trials, focuses on stopping the ‘cytokine storm’ that affects the lungs of some patients.

This is a reaction where the immune system starts attacking healthy cells in the lungs following infection by the virus. The drug can be delivered through a nasal spray or inhaler.

Dr Arber, who works at the Tel Aviv Sourasky Medical Centre, told The Mail on Sunday: ‘We would like to collaborate with other companies.

‘We are already talking to several American companies, but it would also be great to explore the possibility of working with AstraZeneca.’

Dr Arber said his firm was working with investment banking advisers on raising finance from strategic partners, as his team was looking to raise more than $20 million (£15 million) for development of the drug, with the aim of approval by the FDA, the American medical regulator.

AstraZeneca declined to comment.