Study of OLP-1002 Injections for Reducing Moderate to Severe Pain Due to Osteoarthritis in Hip and/or Knee Joint

Inclusion Criteria:

1. Willing and able to provide written informed consent prior to any study-relatedprocedures being performed in accordance with Good Clinical Practice (GCP),International Council for Harmonisation (ICH) and local regulations.
2. Male or female aged ≥ 35 years to ≤ 70 years as of the date of enrolment into thestudy
3. No history of cardiac disease including arterial or venous thrombi, cardiacarrhythmia, myocardial infarction, admission to hospital for unstable angina, cardiacangioplasty or stent implantation within 90 days prior to Screening.
4. Body mass index (BMI) ≥ 18 kg/m2 < 40 kg/m2 at Screening.
5. Pain in hip or knee joints, every day for at least 1-month during the 3 months priorto Screening. Note: Participants must have a pain severity score of ≥ 5 based on the 3-day mean VASscore during the Baseline Period and must have recorded the pain score every dayduring the Baseline Period.
6. Diagnosis of Osteoarthritis (OA) of the index hip or knee: moderate to severeosteoarthritis, based on American College of Rheumatology (ACR) criteria with KellgrenLawrence x-ray grade of at least 2, as diagnosed by the radiologist or rheumatologist.
7. Western Ontario and McMaster Universities Osteoarthritis (WOMAC) pain score of ≥ 10out of 20 in the index hip or knee at Screening.
8. Willing and able to provide their historical use of nonsteroidal anti-inflammatorydrugs (NSAIDs) either over-the-counter (OTC) per recommendation of a physician orprescribed during the past 6 months (the pain in the target knee and/or hip required).
9. Women of childbearing potential (WOCBP) must be non-pregnant and non-lactating, andmust use acceptable, highly effective double contraception from Screening until 90days after the last dose of IP. Double contraception is defined as a condom AND oneother form of the following:
10. Established hormonal contraception (for example, approved oral contraceptivepills [OCPs], long-acting implantable hormones, injectable hormones),
11. A vaginal ring or an intrauterine device (IUD), or
12. Documented evidence of surgical sterilisation at least 6 months prior toScreening (eg, tubal occlusion, hysterectomy, bilateral salpingectomy, orbilateral oophorectomy for women or vasectomy for men [with appropriatepost-vasectomy documentation of the absence of sperm in semen] provided the malepartner is a sole partner). Periodic abstinence (eg, calendar, ovulation, symptothermal, post-ovulation methods)and withdrawal are not considered highly effective methods of birth control. Aparticipant's treatment is acceptable.
13. Women not of childbearing potential must be postmenopausal for ≥ 12 months.Post-menopausal status will be confirmed through testing of FSH levels ≥ 40 IU/L atScreening for amenorrhoeic female participants. Female participants who are abstinentfrom heterosexual intercourse will also be eligible. Female participants who are in a same-sex relationship are not required to usecontraception.
14. Male participants must be surgically sterile (>30 days since vasectomy with no viablesperm), abstinent, or if engaged in sexual relations with a WOCBP, the participant andhis partner must be surgically sterile (eg, tubal occlusion, hysterectomy, bilateralsalpingectomy, bilateral oophorectomy) or using an acceptable, highly effectivecontraceptive method from Screening until 90 days after the last dose of IP.Acceptable methods of contraception include the use of condoms and the use of aneffective contraceptive for the female partner that includes: OCPs, long-actingimplantable hormones, injectable hormones, a vaginal ring or an IUD. Male participants with a same-sex partner (abstinence from penile-vaginal intercourse)are eligible when this is their preferred and usual lifestyle.
15. WOCBP must have a negative pregnancy test at Screening and Day 1 and be willing tohave additional pregnancy tests as required throughout the study.
16. Male participants must agree not donate sperm for at least 90 days after the last doseof IP.
17. Agree to maintain their usual levels of activity throughout the course of the study.
18. Willing to abstain from other intra-articular treatments of the joint and any jointsurgery while on the study.
19. Able to comply with study procedures, including the completion of dailyquestionnaires.
20. Subjects suffering from moderate to severe pain secondary to diagnosed OA of the kneeand/or hip joint with fit for range of age & BMI will be included with proof of COVID 19 full vaccinations and intention of the participation in the study.

Exclusion Criteria:

1. Known history or current symptomatic heart failure as per New York Heart Association (NYHA) classes II-IV, including unstable angina, myocardial infarction, seriouscardiac arrhythmia, cerebral vascular accident, coronary/peripheral artery bypassgraft surgery, transient ischaemic attack, or pulmonary embolism within 90 days priorto Screening. Participants with small pulmonary embolism not thought to put participants at higherrisks of AEs may be allowed on a case-by-case basis in discussion with Sponsor.
2. History of malignancy except for basal cell carcinoma with successful removal, ALLother non-melanoma skin cancers excised successfully more than 2 years ago, andcervical intraepithelial neoplasia that has been successfully cured more than 5 yearsprior to the Screening Period.
3. Any of the following:
4. Intra-articular treatment injections (including but not limited tocorticosteroids, hyaluronic acid, platelet rich plasma, BOTOX®, localanaesthetics) within 3 months prior to the Screening period,
5. QTcF > 450 ms confirmed by repeat ECG measurement,
6. QRS duration > 120 ms confirmed by repeat ECG measurement,
7. PR interval > 220 ms confirmed by repeat ECG measurement,
8. Findings which would make QTc measurements difficult or QTcF data uninterpretableas per Investigator discretion,
9. History of additional risk factors for torsades de pointes (eg, heart failure (class III/IV according to the New York Heart Association [NYHA]),hypo/hyperkalaemia, family history of long QT syndrome), or
10. Taking any arrhythmic or arrythmia evoking agents.
11. Unable or unwilling to cease the use of all pain reducing medications and all painreducing devices, prescription or otherwise, as of the first day of the study BaselinePeriod and until the End of Study visit. These include all topical and oral opioid andantiinflammatory medications, herbal and homeopathic remedies, electrostimulationtherapy (EST) and neuromuscular re-education (NMRE). This excludes the use ofparacetamol provided that a participant is able and willing to utiliseparacetamol/acetaminophen (2 g/day) as rescue medication or up to 4 g/day forintolerable pain following consent from the PI (or designee) without prior approvalfrom the Sponsor, as of the first day of the study, Baseline Period, and until the Endof Study visit. Note: The participant may continue taking usual medication for maintenance of health.
12. Any of the following laboratory abnormalities within 14 days of Day 1:

• Platelet count < 100,000 cells/mm3.
• Total neutrophil count < 1500 cells/mm3.
• Serum creatinine ≥ 1.5 x upper limit of normal (ULN).
• Alanine aminotransferase (ALT) > 3.0 x ULN).
• Aspartate aminotransferase (AST) > 3.0 x ULN.
• Alkaline phosphatase > 2.0 x ULN.
• Bilirubin > 1.5 x ULN.
• Aural Temperature ≥ 38 degree Celsius or other evidence of an infection.

6. History of alcoholism, substance abuse or dependence during the 12 months prior toScreening:
7. During the study, alcohol consumption of > 21 units per week for males and > 14units per week for females will not be allowed. One unit of alcohol equals ½ pint (285 mL) of beer or lager, 1 glass (125 mL) of wine, or 1/6 gill (25 mL) ofspirits.
8. Positive urine drug screen (confirmed by repeat) or alcohol consumption (self-report) higher than the permissible limit, as mentioned above, at Screeningor Baseline shall be excluded from the study.
9. Has an allergy or hypersensitivity to OLP-1002 or its constituents.
10. Female participants who are pregnant at Screening or are planning on becomingpregnant, or are currently breastfeeding up to 90 days from end of study.
11. Any medical condition or comorbidities as assessed by the Investigator, that couldadversely impact study participation or safety, conduct of the study, or interferewith pain assessments.
12. Active skin conditions such as dermatitis, allergy, eczema, psoriasis, or abnormalskin healing. This criterion is applied in general and is not limited to the activedisease at the planed injection site.
13. Tattoos, scars, or moles that in the opinion of the Investigator are likely tointerfere with dosing or study assessments at any of the potential injection sites.
14. Depression of moderate or greater severity as assessed by the Investigator or via thePatient Health Questionnaire (PHQ-9 ≥10) at the Screening visit.
15. History of psychotic symptoms, whether controlled or not and/or requiringantipsychotic treatment, or history of a suicidal attempt/s within 180 days prior toScreening.
16. Known human immunodeficiency virus (HIV) or acquired immunodeficiency syndromerelatedillness, acute or history of chronic hepatitis B or C. Positive tests for HIV-1 orHIV-2 antibodies, hepatitis B surface antigen, or hepatitis C antibodies at Screening.
17. Concurrent medical or arthritic conditions that could interfere with evaluation of theindex joint including fibromyalgia, rheumatoid arthritis, or other inflammatoryarthropathies affecting the joint eg, sciatica, diabetic neuropathy, multiplesclerosis.
18. Has undergone arthroscopic or open surgery to the joint within 180 days of Screeningvisit.
19. Has undergone replacement surgery of the treatment joint within 180 days of Screeningvisit.
20. The presence of surgical hardware /medical device or other foreign bodies in thetreatment joint within 180 days of Screening visit.
21. Use or intend to use any prescription medications/products other than thosemedications for health conditions (eg, hypertension, diabetes or other disease),within 14 days prior to the Screening visit until the EOS (End of Study) Visit, unlessdeemed acceptable by the Investigator (or designee). Note: Prescription medication is permitted except for pain control, if deemedacceptable by the Investigator (or designee).
22. Use or intend to use slow-release medications/products considered to still be activewithin 14 days prior to the Screening visit until the EOS Visit, unless deemedacceptable by the Investigator (or designee).
23. Receipt of blood products within 60 days prior to the Screening visit until the EOSVisit.
24. Donation of blood from 90 days prior to Screening until the EOS Visit, plasma from 14days prior to Screening until the EOS Visit, or platelets from 42 days prior toScreening until the EOS Visit.
25. Poor peripheral venous access.
26. Is a Sponsor employee.
27. Has participated in a clinical study involving administration of an investigationaldrug (new chemical entity) in the past 90 days or 5 half-lives of the IP, whichever islonger, prior to the Screening visit.
28. Has participated in any trial of a device, supplement, cognitive/behavioural therapy,physiotherapy or active exercise study within 30 days prior to the Screening visit.
29. Has previously received any dose of OLP-1002.
30. In the opinion of the Investigator (or designee), should not participate in thisstudy.
31. Subjects who have history of or current serious illness with cardiac, vascular,cancer, infectious, mental, and laboratory abnormality will be excluded from thisstudy.