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Radius Completes Enrollment of Phase II Clinical Trial of BA058 for Osteoporosis
Date:4/2/2008

-Milestone triggers $28.3 million second-tranche investment-

CAMBRIDGE, Mass., April 2, 2008 /PRNewswire/ -- Radius Health ("Radius") announced today the completion of patient enrollment into its Phase II clinical trial of BA058, the company's bone anabolic candidate for treatment of osteoporosis. The Phase II dose-finding study is designed to further evaluate the ability of BA058 to build new bone for the treatment of osteoporosis in postmenopausal women. Radius also announced today the receipt of a second-tranche financing of $28.3 million based on achieving this milestone, for a total second institutional investment of $67.5 million. Six existing venture investors-MPM Capital, The Wellcome Trust, HealthCare Ventures, Oxford Bioscience Partners, BB Biotech Ventures, and Scottish Widows Investment Partnership-participated in the latest closing. Radius will use the funds to support development of the company's four major product candidates.

The randomized, double-blind, placebo- and comparator-controlled Phase II study is evaluating BA058 in 244 otherwise healthy postmenopausal women with osteoporosis at 35 centers in the United States, United Kingdom, Argentina, and India. The trial is designed to evaluate the safety of BA058 across a range of doses as well as its ability to induce bone formation without inducing resorption through measurement of bone formation and resorption markers and by measuring bone mineral density using a number of different modalities. Radius expects to report the results of the Phase II clinical trial by the end of 2008.

"The completion of patient recruitment in this Phase II trial is a very significant achievement for Radius, and we are grateful for the enthusiasm of our investigators, who have worked diligently to exceed our enrollment target for this study," said C. Richard Lyttle, PhD, President and CEO of Radius. "We believe that BA058 represents a next-generation bone anabolic treatment for osteoporosi
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SOURCE Radius
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