NCX 4016 is a nitric oxide-donating derivative of acetyl-salicylic acid, which has generated encouraging preliminary results in type 2 diabetes patients in three clinical studies. The planned program for NCX 4016 in type 2 diabetes was put on hold in 2007, due to unexpected in vitro test results observed for NCX 4015, a potential, specific metabolite of NCX 4016. NicOx has not received any further results suggesting a potential concern with NCX 4015.
Following an in-depth internal evaluation of the projected NCX 4016
development timeline and costs, the Company has decided to discontinue NCX
4016 and focus its resources on the development of naproxcinod and other
compounds in its pipeline.
Other important achievements and updates
-- In February 2007, NicOx successfully completed a capital increase with
preferential subscription rights for existing shareholders, which
raised net proceeds of euro 120.7 million. There was demand for new
ordinary shares totaling euro 227 million, with the offering therefore
being covered 1.75 times
-- In November 2007, Orexo AB acquired the rights to NCX 1510 through its
merger with Biolipox AB (see Orexo Press Release of November 23, 2007).
NCX 1510 is a nitric oxide-donating drug candidate for the treatment of
allergic rhinitis. A nasal spray formulation of this compound using
Orexo's NLA technology has completed phase 2a clinical development and
Orexo is seeking possible partnerships to further advance the
|SOURCE NicOx S.A.|
Copyright©2008 PR Newswire.
All rights reserved