SYDNEY (Reuters) - Australian biotech company Ena Respiratory said on Monday that a nasal spray it is developing to improve the human immune system to fight common cold and flu significantly reduced the growth of the coronavirus in a recent study on animals.
A study on ferrets showed the product dubbed INNA-051, which could be used complementary to vaccines, lowered the levels of the virus that causes COVID-19 by up to 96%, the company said. The study was led by British government agency Public Health England.
Ena Respiratory said it would be ready to test INNA-051 in human trials in less than four months, subject to successful toxicity studies and regulatory approval.
The company has raised A$11.7 million ($8.24 million) for the development of the spray. Investors include venture capital firm Brandon Capital Ltd, the Australian federal government, pension funds and biotech giant CSL Ltd (AX:CSL).
Several companies across the world are in the pursuit of developing a coronavirus vaccine. Australia has entered into agreements with some drug companies investing billions to secure potential vaccines for COVID-19, which has killed over 992,000 people worldwide.
Australia has so far reported 875 deaths and just over 27,000 coronavirus cases, far less than the numbers reported in other developed countries.