- Starpharma (SPL) has been awarded $1M in matched funding by the Australian Government’s Medical Research Future Fund (MRFF)
- This funding will also enable the pharmaceutical company to speed-up development and commercialisation of its COVID-19 antiviral nasal spray
- Starpharma’s nasal spray is based on its proprietary dendrimer, SPL7013, which has demonstrated significant activity against SARS-CoV-2, the virus that causes COVID-19
- SPL7013 works by blocking the interaction between viral surface proteins and human cell receptor proteins
- SPL7013 has also shown potential treatment for other diseases such as HIV, herpes, hepatitis B, and the Zika virus
- Starpharma is up 4.29 per cent on the market and shares are trading for $1.70 each
