Komipharm says Panaphix is a cytokine storm inhibitor that restrains the overproduction of immune cells and their activating compounds, cytokines. It is thought than an overproduction of immune cells and their signalling molecules causes the severe inflammatory disease such as pneumonia in some individuals.

The company said it seeks to expand the use of Panaphix to cover COVID-19 treatment through this proposed clinical trial.

Novotech CEO Dr Moller said Novotech was well positioned to partner with Komipharm International on an important drug trial that is having a particularly strong impact in Asia Pacific. Novotech has offices in eleven locations throughout Asia Pacific.

He said Novotech's model of having experienced local leadership, the ability to engage with regulators and strong relationships with Key Opinion Leaders and sites in the region will allow it to accelerate this trial.

Novotech undertakes a large number of infectious diseases trials and has particularly strong relationships in this area.

Novotech recently won the Australian-Korean Business Awards 2020 - Award for Excellence, in the category Biotech and Health.

Over the last 12 months Novotech has signed several formal partnerships with key hospitals in Korea, including Seoul National University, Asan Medical Center, Yonsei University Severance Hospital, and Ulsan University Hospital, to facilitate the project management of clinical trials and accelerate biotech drug development.

About Novotech

Headquartered in Sydney, Novotech is internationally recognized as the leading regional full-service contract research organization (CRO). Novotech has been instrumental in the success of hundreds of Phase I - IV clinical trials in the Asia Pacific region.

Novotech provides clinical development services across all clinical trial phases and therapeutic areas including: feasibility assessments; ethics committee and regulatory submissions, data management, statistical analysis, medical monitoring, safety services, central lab services, report write-up to ICH requirements, project and vendor management. Novotech's strong Asia Pacific presence includes running clinical trials in all key regional markets.

Novotech also has worldwide reach through the company's network of strategic partners. https://novotech-cro.com/welcome. For RFP enquiries: Please fill out the form available at www.novotech-cro.com/contact-us-0

Media Contact:

Susan Fitzpatrick-Napier

communications@novotech-cro.com

AU: +61 2 8218 2144

USA: +1 415 951 3228

Asia: +65 3159 3427