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Immuron Surges On U.S. DoD Funding For Travelan Research -Breaking

by Mike Robinson

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© Reuters.

Sam Boughedda

Investing.com — Immuron Ltd ADR (NASDAQ:) shares surged over 43% Wednesday on news of a A$6.2 million ($4.45m) award from the Defense Department to clinically evaluate a military strength dosing regimen for Travelan.

The Defense Department for Travelan awarded Immuron A$4.8 Million ($3.43mi) to fund its clinical development efforts, and the U.S Naval Medical Research Center A$1.4 Miillion ($1.02m).

Travelan is an enterotoxigenic diarrhea medication. Funding was provided for the testing of one larger dose in severe diarrhea cases caused by Enterotoxigenic Escherichia Coli. 

A controlled human infection clinical trial is being planned for 60 volunteers who are healthy in the U.S.

“This new project expands our clinical development program and represents the first of several significant clinical trials which the Company expects to undertake with the US Military in 2022,” said Dr. Jerry Kanellos, CEO of Immuron.

 

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