Navigation Links
Synvista Therapeutics Announces Termination of Clinical Trials of Alagebrium and SYI-2074 and Provides Business Update
Date:1/28/2009

MONTVALE, N.J., Jan. 28 /PRNewswire-FirstCall/ -- Synvista Therapeutics, Inc. (NYSE Alternext US: SYI) today announced that, following a review of its clinical development portfolio and its current financial status, the Board of Directors and management have determined that it is in the best interest of the Company to focus its resources on maximizing the value of its diagnostic assets and to terminate all ongoing clinical trials of its product candidates alagebrium and SYI-2074, including the following:

- the BENEFICIAL study, which was a Phase 2 double-blind, placebo-controlled, randomized trial of alagebrium in patients with chronic systolic heart failure;

- the BREAK study, which was a Phase 2 double-blind, placebo-controlled, randomized trial of alagebrium in patients with diastolic heart failure; and

- the Phase 2 trial of a topical formulation of SYI-2074 for the treatment of chronic, mild-to-moderate plaque psoriasis in adults.

Each of these trials will be terminated as promptly as possible.

As noted previously, the Company has submitted an application for 510(k) clearance for its HAPTOCHEK(TM) diagnostic test kit, a protein-based clinical laboratory test to identify patients with Hp2-2 diabetes. The 90-day review process of such submission is ongoing, during which time the FDA will determine whether the kit can be distributed to labs throughout the country as an in vitro diagnostic.

The Company is continuing to explore strategic alternatives in order to monetize its technology assets, which may take the form of sales or licensing transactions with respect to those assets. In light of the Company's cash position and current negative economic and capital markets conditions, if the Company is unable to enter into such transactions in a timely manner, the Company's ability to continue operations beyond the second quarter of 2009 is in doubt.

About Synvista Therapeutics

Synvista Therapeutics is a biopharmaceutical company developing clinical diagnostic laboratory tests and drugs to diagnose, treat and prevent cardiovascular disease in people with diabetes. The Company has developed a protein-based clinical laboratory test to identify patients with Hp2-2 diabetes. Tests which identify patients with Hp2-2 diabetes may be useful in identifying diabetic patients at high risk for cardiovascular complications. These patients may benefit from a particular formulation of vitamin E. The Company is also developing a kit to measure CML (carboxy-methyllysine), another potential cardiovascular risk marker.

For more information, please visit the Company's Web site at www.synvista.com.

Any statements contained in this press release that relate to future plans, events or performance are forward-looking statements that involve risks and uncertainties including, but not limited to, the risks associated with the events described in this press release, the Company's ability to obtain sufficient financing to allow it to continue operations, future clinical development of Synvista Therapeutics' diagnostic tests and product candidates, and other risks identified in Synvista Therapeutics' filings with the Securities and Exchange Commission. Further information on risks faced by Synvista are detailed under the caption "Risk Factors" in Synvista Therapeutics' Annual Report on Form 10-K for the year ended December 31, 2007. These filings are available on a website maintained by the Securities and Exchange Commission at http://www.sec.gov. The information contained in this press release is accurate as of the date indicated. Actual results, events or performance may differ materially. Synvista Therapeutics undertakes no obligation to publicly release the result of any revision to these forward- looking statements that may be made to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.


'/>"/>
SOURCE Synvista Therapeutics, Inc.
Copyright©2009 PR Newswire.
All rights reserved

Related medicine technology :

1. Synvista Therapeutics Alagebrium Shows Potential for use in Treating Diabetes-Related Gastrointestinal Complications
2. Synvista Therapeutics Highlights New Data Demonstrating the Clinical Benefit of Vitamin E Therapy in Patients Identified on the Basis of Haptoglobin Phenotype Testing
3. Synvista Collaboration Demonstrates in Preclinical Studies the Mechanism for Defective Cholesterol Transport in Patients with Diabetes
4. Synvista Announces New Data Showing Haptoglobin Type Predicts Effectiveness of Tight Glycemic Control on Cardiovascular Outcomes in Patients with Diabetes
5. Synvista Therapeutics Announces Initiation of Phase 2 Study With Alagebrium for Chronic Heart Failure
6. Synvista Therapeutics Presents New Preclinical Data Demonstrating the Value of Haptoglobin Genotype Testing In Diabetes at ACC Scientific Sessions
7. Synvista Therapeutics Reports Results of Three Phase 2 Clinical Trials of SYI-2074 in Diabetic Patients with Cardiovascular Disease
8. Data Confirm Synvista Therapeutics Haptoglobin Diagnostic Test Kit Success in Rapidly Determining Cardiovascular Risk in Patients with Diabetes
9. Synvista Therapeutics Announces First Dosing of SYI-2074 in Clinical Trial for Psoriasis
10. Synvista Therapeutics Announces Published Data Demonstrating Elevation of Carboxymethyl-Lysine (CML) Is Associated with Decline in Renal Function and Arterial Stiffness in Older Adults
11. Vicus Therapeutics to Present at the 234th American Chemical Society National Meeting in Boston, MA
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:6/23/2016)... Research and Markets has announced ... Type (Organic Chemical (Sugar, Petrochemical, Glycerin), Inorganic Chemical), Functionality ... - Global Forecast to 2021" report to their ... global pharmaceutical excipients market is projected to reach USD ... in the forecast period 2016 to 2021. ...
(Date:6/23/2016)... 2016 Roche (SIX: RO, ROG; OTCQX: RHHBY) ... Elecsys BRAHMS PCT (procalcitonin) assay as a dedicated testing ... With this clearance, Roche is the first IVD company ... for sepsis risk assessment and management. PCT ... PCT levels in blood can aid clinicians in assessing ...
(Date:6/23/2016)... June 23, 2016 Capricor ... ), a biotechnology company focused on the discovery, ... that patient enrollment in its ongoing randomized HOPE-Duchenne ... exceeded 50% of its 24-patient target. Capricor expects ... third quarter of 2016, and to report top ...
Breaking Medicine Technology:
(Date:6/27/2016)... ... June 27, 2016 , ... ... patient payment industry today announced its strategic partnership with Connance, a healthcare ... , The two companies’ proven, proprietary technology combine to provide health systems, ...
(Date:6/26/2016)... ... 26, 2016 , ... On June 10-11, 2016, A Forever Recovery, a holistic ... World’s Longest Breakfast Table in Battle Creek, MI, where the rehabilitation facility is located. ... some of the world’s leading providers of cereal and other breakfast foods. Its residents ...
(Date:6/26/2016)... ... June 26, 2016 , ... ... have been diagnosed with endometriosis. These women need a treatment plan to not ... comprehensive approach that can help for preservation of fertility and ultimately achieving a ...
(Date:6/25/2016)... ... June 25, 2016 , ... "With 30 hand-drawn hand gesture animations, ... Christina Austin - CEO of Pixel Film Studios. , ProHand Cartoon’s package transforms ... Final Cut Pro X . Simply select a ProHand generator and drag it above ...
(Date:6/25/2016)... ... June 25, 2016 , ... On Friday, June 10, Van Mitchell, Secretary ... Work award to iHire in recognition of their exemplary accomplishments in worksite health promotion. ... Maryland Workplace Health & Wellness Symposium at the BWI Marriott in Linthicum Heights. iHire ...
Breaking Medicine News(10 mins):