Paradigm Biopharmaceuticals Limited (ASX: PAR) entered voluntary administration on 29 September 2026, with Hayden White and Christopher Pattinson of FTI Consulting appointed joint and several administrators after the Melbourne-based biotechnology company suffered a setback in a critical Phase 3 clinical trial. The administrators have taken control of Paradigm’s business, operations and assets and are assessing its financial position, future viability and potential restructuring options.
Paradigm is developing a potential treatment for knee osteoarthritis based on injectable pentosan polysulfate sodium. Its Phase 3 PARA_OA_012 trial had enrolled 538 participants, but the company recently announced that the trial would not proceed as…