Altamira Therapeutics Names Covadonga Paneda Chief Development Officer

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by Josh Beckerman

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Altamira Therapeutics Ltd. named Covadonga Paneda’s chief development officer, effective in early April, as part of an ongoing reengineering around RNA therapeutics.

Dr Paneda, who was Director of Development at Lim Therapeutics, will oversee the delivery platform for extrahepatic nucleotide delivery. The company said it will be “helpful in furthering the further advancement of our oligophore and semaphore platforms for the additional delivery of siRNA, mRNA or other nucleotides.”

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The company also said that its Altamira Therapeutics Inc. The unit was awarded a Small Business Technology Transfer Grant by the National Institutes of Health related to systemic delivery technologies for RNA structures.

Shares had recently fallen 9% to $1.58.

In June, Altamira, then called Auris Medical Holding Ltd., acquired Trasir Therapeutics Inc. which marks the starting point for a reestablishment for RNA therapeutics. The company said in the medium term it would seek to liquidate or sell its assets in neurotology, rhinology and allergy.

In Altamira’s first commercial launch, the Bentrio nasal spray debuted in parts of Europe last year. Bentrio is designed to help protect against airborne viruses and allergens. It forms a film on the mucosa, creating an electrostatic effect that helps trap and bind viruses and allergens, and moisturizes the nasal mucosa, according to the product website.

Altamira shares jumped in November after the company announced positive efficacy data from an in vitro trial against the Covid-19 delta variant.

The company said on December 1 that the first patient in the Bentrio clinical trial was randomized for seasonal allergic rhinitis.

Write to Josh Beckerman at [email protected]

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