Biopharmaceutical company Covistat said on Thursday that it is one step closer in developing the low cost treatment nafamostat for COVID-19 via the acquisition of the technology and intellectual property of Mucokinetica.

In the fight against COVID-19, Dr Peter Cole and Dr Rod Hall, founders of Mucokinetica Ltd and world-leading experts in respiratory diseases and cystic fibrosis, are joining the Covistat team. Mucokinetica's technology and intellectual property will accelerate the efforts to develop a low-cost treatment that helps the body's ability to block the coronavirus and its mutating variations from infiltrating our cells.

The companies added that nafamostat blocks TMPRSS2, the enzyme that enables SARS-CoV-2's spike proteins to gain entry into cells. Whether suffering from mild symptoms at home or acute respiratory failure in a hospital, nafamostat's therapy is expected to reduce the viral load in patients and prevent the progression of COVID-19.

Additionally, Covistat is working to repurpose this proven generic drug nafamostat into oral, intranasal and inhaled therapies for COVID-19 patients, including those in remote and developing regions of the world.