Devonian Health Group (TSXV:GSD) Announces Positive Results for Thykamine™ in MASH Model

QUEBEC, February 19, 2026 — Leads & Copy — Devonian Health Group Inc. (TSXV: GSD) (OTCQB: DVHGF) has announced positive results from a follow-up preclinical study evaluating Thykamine™ in a human metabolic-associated steatohepatitis (MASH) model using the PhysioMimix® Liver-on-a-Chip platform. The study was conducted by CN Bio Innovations, Cambridge, UK.

The study demonstrates that Thykamine™ exerts dose-dependent effects on key pathological hallmarks of MASH, including fibrosis and inflammation, in a physiologically relevant human liver system. These results represent a translational bridge between Devonian’s previously disclosed efficacy in the mouse STAM® MASH model and a predictive human microphysiological model.

Thykamine™ was evaluated at four low concentrations (0.025, 0.05, 0.1, and 0.2 mg/mL) over a 14-day treatment period in a dynamic, triple-cell liver model incorporating primary human hepatocytes, Kupffer cells, and hepatic stellate cells under continuous microfluidic flow to induce a MASH phenotype.

Elafibranor, a clinically advanced compound previously evaluated in MASH clinical trials, was included as a reference positive control (20 uM), alongside a vehicle control.

Key findings include a dose-dependent reduction in fibrosis-associated biomarkers, including pro-collagen and TIMP-1, with the strongest effects observed at 0.1 and 0.2 mg/mL. Confocal imaging confirmed a significant decrease in Type I collagen deposition, indicating attenuation of one of the core structural features of fibrotic MASH. At higher doses, the magnitude of collagen reduction was greater than that observed with Elafibranor under identical experimental conditions.

The study also found that Thykamine™ induced a dose-dependent reduction in pro-inflammatory cytokines IL-6 and IL-8 at later time points, reflecting an effect on inflammatory pathways that contribute to hepatocellular injury and disease progression in MASH. LDH levels remained low throughout the study, with no evidence of drug-induced liver injury. Observed changes in albumin production will be further investigated.

Dr. André P. Boulet, PhD, Chief Executive Officer of Devonian, said the findings show that Thykamine™ impacts the core biological processes that define MASH, including fibrosis and inflammation. He added that, together with previously reported mouse STAM® data, this study strengthens the translational rationale for Thykamine™ as a potential disease-modifying therapeutic candidate.

The PhysioMimix® Liver-on-a-Chip platform recapitulates key aspects of human MASH pathology by combining multi-cellular liver architecture with physiological flow. The consistent activity of Thykamine™ across in vivo and human organ-on-a-chip models supports its differentiated profile among emerging MASH therapeutics.

Devonian plans to advance additional preclinical studies to further characterize Thykamine™’s disease-modifying potential and support continued development in MASH and other fibrotic diseases.

Nonalcoholic fatty liver disease (NAFLD) is the most common form of chronic liver disease, with a worldwide prevalence of 20-30%. NAFLD progresses to metabolic dysfunction-associated steatohepatitis (MASH), the hallmarks of which are inflammation, hepatocellular ballooning, and subsequent worsening fibrosis. Untreated, MASH can ultimately progress to cirrhosis of the liver and hepatocellular carcinoma, liver failure and death.

The global Metabolic Dysfunction-Associated Steatohepatitis (MASH) treatment market is experiencing rapid growth, driven by rising rates of obesity, type 2 diabetes, and metabolic syndrome. According to DataM Intelligence, the market was valued at $7.87 billion in 2024 and is projected to reach $31.76 billion by 2033, growing at a 17.7% CAGR from 2025 to 2033.

Thykamine™, the first pharmaceutical product issued from Devonian’s SUPREX™ platform, is a product for the prevention and treatment of health conditions related to inflammation and oxidative stress including ulcerative colitis, atopic dermatitis, psoriasis, rheumatoid arthritis, and other autoimmune disorders.

Devonian Health Group Inc. is a clinical stage pharmaceutical company specializing in the development of drugs for various auto-immune fibroinflammatory disease with novel therapeutic approaches to targeting unmet medical needs.

More information can be found at Devonian’s website.

Source: Devonian Health Group Inc.

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