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Elixir Pharmaceuticals Announces Clinical Data at American Diabetes,Association Conference Highlighting Ability of Glufast to Maintain,Glycemic Control in Patients with Type 2 Diabetes

CAMBRIDGE, Mass.--(BUSINESS WIRE)--Jun 25, 2007 - Elixir Pharmaceuticals, Inc., announced today the publication of clinical data highlighting the ability of Glufast(R) (mitiglinide calcium hydrate) monotherapy, or combination therapy with metformin, to manage glucose surges before and after meals. The data were published in the Abstract Book for the American Diabetes Association 67th Annual Scientific Sessions in Chicago, Illinois. Glufast is an insulin secretagogue that lowers postprandial (post-meal) glucose levels by improving the body's own ability to produce insulin. Marketed in Japan since 2004, Glufast has an extensive clinical package that demonstrates the product's ability to effectively and safely treat Type 2 diabetes.

"The publication of these data provide compelling confirmatory evidence that Glufast can control and reduce post-meal glucose, and in combination with metformin may offer complete glucose management, both before and after meals," commented William K. Heiden, Elixir's President and Chief Executive Officer. "These studies and other similar data led us to in-license Glufast, which we expect to be our first commercial product. This drug has been well received outside of the U.S., and its efficacy and safety are well documented. As endocrinologists and general practitioners have different prescribing habits and dosing requirements, we will be pursuing Glufast both as a single agent and in combination with metformin to meet their needs. We are working towards initiating a final Phase III clinical study of Glufast in the U.S. this year."

The first study detailed findings from a randomized, double-blind trial comparing Glufast to acarbose in 369 elderly patients (at least 65 years of age) with Type 2 diabetes mellitus (T2DM). The patients were randomized to receive either Glufast or acarbose and were stratified by country and prior oral hyperglycemic agent (OHA) treatment. More than 80
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