Deena Bearsley

(Reuters) – Pardes Biosciences announced Tuesday that early human testing has shown its COVID-19 antiviral medication works well as a stand-alone treatment. It also plans to merge with a special purpose acquisitions company.

The drug PBI-0451 could be more effective than similar drugs that must be taken along with another booster medicine, like the Pfizer Inc (NYSE:). The two-drug antiviral treatment Paxlovid is currently under review by the U.S. Food and Drug Administration.

Pardes stated that it plans to finish its Phase I study with healthy volunteers in the early part of next year. Pardes said it plans to start a larger study by the middle of next year that may be used for regulatory approval.

Oral COVID-19 therapies are not yet approved. They are likely to be important tools in the fight against this illness as they can be used at home to treat symptoms early and keep patients out of hospital.

Pardes drugs are protease inhibitors that prevent coronavirus replicating in human cells. This medicine is similar to Pfizer’s Nirmatrelvir. It was combined with an older antiviral drug ritonavir has been shown to reduce hospitalization and death rates by 89% in COVID-19 patients who are at highest risk for severe illnesses.

Ritonavir can be used to prolong the Pfizer pill’s action, but it may also interact with other medications a patient might take, increasing the chance of complications.

Uri Lopatin, Pardes’ Chief Executive Officer, stated to Reuters that “we believe the ability have an unboosted regimen is important.” He stated that one out of five Americans are prescribed at least one medication.

Pfizer claims the problem of drug-drug interactions can be managed and is currently awaiting FDA emergency approval for Paxlovid.

Jim Tananbaum (founder and CEO, Foresite Capital), stated that if you think of HIV and hepatitis as proxies in COVID you will see the first generation of compounds and over time, better options.”

Certain newer anti-hepatitis C drugs are considered advances because they have high efficacy without the necessity of ritonavir.

Foresite, the sponsor of FS Development Corp II is a blank check company that was created to fund acquisitions and raise capital as an alternative to a traditional Initial Public Offering. The Thursday shareholder vote is set for the Merger of Pardes and FS II.

Officials from the company said that Pardes was in discussions with regulators regarding the design and implementation of an expanded, global PBI-0451 trial, which would include geographic locations as well as the number of participants.