United Kingdom

Health firm bolsters float with Covid treatment claim

A medical firm based in Salford which plans to list on the London Stock Exchange (LSE) later this year has said it is working on an inhaler that can kill Covid-19 within a minute. 

In lab data from the Medical University of Innsbruck in Austria, SpectrumX's SPC-069 treatment was shown to neutralise 100 per cent of both the original and Delta variant of the Covid-19 virus within one minute, with low toxicity for animal and human tissue. 

Work in progress: In lab data, SpectrumX's SPC-069 treatment was shown to neutralise 100 per cent of both the original and Delta variant of the Covid-19 virus within one minute

SPC-069 is a formulation of hypochlorous acid (HOCl), a disinfectant that is 300 times stronger than bleach but is safe to use on human skin, eyes and lungs. 

Aside from combating Covid-19, SPC-069 is also effective against antibiotic-resistant 'superbugs', which are predicted to kill around 10m people per year by 2050.

A human trial of the SPC-069 inhaled treatment is due to begin next month in hospitals run by the Chelsea & Westminster NHS Trust, which already uses a variation of the formula found in the company's Spectricept hand sanitiser. 

Following the human trial, SpectrumX plans to apply for emergency use authorisation from the UK medicines regulator at the start of next year. 

The group has also opened a new production facility in Knutsford in Cheshire, creating around 100 jobs. 

In terms of its listing plans, the group said it has already raised more than £3m from existing backers and expects to achieve a market capitalisation of around £50m when it makes its debut on the LSE.

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