Codebase Ventures Inc (CSE:CODE) (OTCQB:BKLLF) has issued a second update to investors this week regarding its pending acquisition of a company that owns the rights to a provisional patent for a hydroxychloroquine patch - a transdermal delivery method that could curb the side effects associated with using the drug to treat the coronavirus (COVID-19).
Hydroxychloroquine has been approved by the US Food and Drug Administration as a treatment for malaria, lupus and rheumatoid arthritis. It has been highlighted by some — including President Trump — as a possible coronavirus treatment.
However, in its oral tablet form, side effects can include headache, dizziness, diarrhea, vomiting, blurred vision, and arrhythmia.
READ: Codebase encouraged by global hydroxychloroquine coronavirus studies after investing in transdermal drug delivery patch
That’s where the transdermal patch comes in. Delivering the drug through the skin regulates its dosage, improving patient compliance and outcomes, the company said. Less of the active ingredient needs to be administered and, because it bypasses the gastrointestinal tract side effects are mitigated.
The hydroxychloroquine transdermal drug delivery system is expected to be developed by Glanis Pharmaceuticals Inc, which Codebase signed a letter of intent to acquire a 49% interest in on April 16.
Reformulation Research Laboratories Inc, Codebase’s contract lab partners in the venture, have provided evidence that transdermal delivery of hydroxychloroquine can result in improved well being for patients by providing constant drug levels and fewer side effects overall, the company said.
Codebase emphasized again that the company is not making any claim that hydroxychloroquine has the ability to eliminate or cure the coronavirus at this time. Various clinical trials are currently underway.
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