Island Pharmaceuticals (ASX:ILA) formalised a three-year cooperative research and development agreement with the United States Army Medical Research Institute of Infectious Diseases and The Geneva Foundation.
The strategic collaboration aims to accelerate the development of Galidesivir, a promising antiviral candidate targeting the deadly Marburg Virus Disease.
Following the announcement, Island’s shares rose by 14.86%, reflecting strong investor confidence in the company’s regulatory trajectory.
The partnership focuses on progressing Galidesivir via the FDA Animal Rule pathway, a specialised regulatory track used when human efficacy trials are unethical or unfeasible.
Under the CRADA, the parties will design and execute critical non-human primate studies, which serve as the primary evidence for a future New Drug Application.
By leveraging USAMRIID's extensive history with Galidesivir and The Geneva Foundation's management of US$383 million in annual research funding, Island effectively taps into a world-class infrastructure designed to bolster national security against viral threats.
The milestone follows a $9 million capital raise earlier this year, ensuring the program is fully funded through its manufacturing and preclinical stages.
With the FDA already providing a clear regulatory roadmap, Island Pharmaceuticals is now positioned to pursue potential US government procurement and a high-value priority review voucher.
At the time of reporting, Island Pharmaceuticals' share price was $0.42.