Ebselen is not strictly an "anti-inflammatory drug" and, even in that capacity, it is not anti-inflammatory in the way anti-inflammatory drugs usually are (i.e. primarily affect chemotaxis and migration of neutrophils and vascular permeability). Actually, Ebselen may have some direct effects on vascular permeability, too, but it is more akin to the effects of a drug like Amlodipine (more on this in a bit).
In terms of why it's so confusing as to what Ebselen does, it's because it's an extremely odd drug with a lot of varied targets. Even the chemical structure of it is extremely unique:
The Weirdness of Ebselen
Interestingly, Jonathan Kil from Sound Pharmaceuticals actually commented on this blog post:
"The Daichii ebselen stroke trials were probably the most advanced clinically, but were limited due to the sample size, the nature of that disease, and the approval of tPA in 1997. In addition, I thought you maybe interested in our ongoing clinical trials in sensorineural hearing loss and tinnitus with SPI-1005. We have completed a Phase 1 and Phase 2 in acute noise induced hearing loss which were highly successful. We are currently enrolling a Phase 1/2 in Meniere's disease (hearing loss, tinnitus and vertigo) and preparing to enroll two ototoxicity studies involving chemotherapy or antibiotic receiving patients. In several different models of acute neurotologic injury, we and others have shown that ebselen is highly otoprotective through its action as a GPx1 mimic and inducer. This later effect is somewhat dependent upon Nrf2 activation. My feeling is that ebselen will find a home in diseases where decreases in GPx activity result in the establishment of acute injury and the progression to chronic disease and/or in specific organs where GPx is the dominant catalytic antioxidant enzyme such as the inner ear, retina, lung and some areas of the forebrain."
What he seems to be saying is that he believes Ebselen has a mechanism of action in a variety of acute injuries and also in areas where Glutathione Peroxidase is involved in chronic inflammation: inner ear, retina, lung and parts of the brain.
They are testing it on chronic conditions of the brain, for instance (bipolar disorder, Alzheimer's, as a preventative for Parkinson's, which has been tested in primates, and could maybe help prevent or slow down progression) and plan to test it acutely for COVID-19 lung disease (it may help the long haulers, too, we don't know).
In rodent studies, it seemed to show effects on both tinnitus and (I assume loudness) hyperacusis.
So, what are some of the known targets of this drug?
-- Glutathione peroxidase inducer (this helps with oxidative stress and neuroinflammation) as Jonathan Kil mentioned above
-- It is also shows effects as a cytokine modulator:
Ebselen--an in vivo immune response modifier
Of note, TNF-Alpha was a key cytokine in the Dr. Bao studies.
-- In rodents at least, it's a voltage-gated calcium channel blocker (this would have vascular effects)
-- In rodents, it affects some potassium channels as well (this was an acute rodent study as well) but the only study in people (it was a diabetic vascular study in patients that did not have neuropathy or retinopathy), showed it did not have an effect. This at least shows that, in chronic diabetes, it does not have a restorative vascular effect (which is very specific and not in the scope of what Sound Pharmaceuticals is trying to do).
-- It affects the NMDA receptor and dampens Glutamate hyperexcitabilty effects through multiple mechanisms (redox effects? lipoperoxidase effects?)
-- It also may have anti-depressive effects similar (but reportedly safer) than lithium due to inhibitory effects on inositol monophosphatase:
A safe lithium mimetic for bipolar disorder
-- It also may affect acetylcholinesterase activity (like Huperzine A being studied in China for age-related hearing loss related tinnitus):
Pre-treatment with ebselen and vitamin E modulate acetylcholinesterase activity: interaction with demyelinating agents
If all of this seems confusing, it is because it is. I have never personally seen a drug with so many different targets.
It's one reason this drug has so much potential but also perhaps why it should only be tried as a last resort for people who are at the complete end of their rope until we get more safety data (even if so far, it looks good).
I want to add too, for anyone trying this on their own. More is not always better in terms of efficacy. In fact, the 400 mg group did much better than the 600 mg group in this study:
Safety and efficacy of ebselen for the prevention of noise-induced hearing loss: a randomised, double-blind, placebo-controlled, phase 2 trial