( ia did not occur ineither arm. Minor h...)Elixir Pharmaceuticals Announces Clinical Data at American Diabetes,Association Conference Highlighting Ability of Glufast to Maintain,Glycemic Control in Patients with Type 2 Diabetes,Health

ia did not occur in either arm. Minor hypoglycemia was reported in 14.7 percent of patients receiving both drugs compared with 1.9 percent of patients on metformin alone but did not cause excessive adverse effect withdrawals from the study. The total percentage of patients who discontinued for adverse effects was 5.5 percent on two drugs compared with 2.9 percent for patients only receiving metformin.

About Glufast

Glufast, an insulin secretagogue with a rapid onset and short duration of action, lowers post-meal glucose levels by improving the body's own ability to produce insulin. Clinical data have shown HbA1c levels (a standard means of assessing chronic elevated blood glucose levels) are decreased when Glufast is used to reduce post-meal glucose surges. Epidemiological studies have demonstrated uncontrolled post-meal glucose surges are associated with negative long-term health outcomes in diabetics.

Glufast is a member of the mitiglinide class of compounds; two currently marketed products in this class are believed to have generated over $300 million in sales in the U.S. in 2006. Glufast has been studied extensively in human clinical trials in the U.S., Europe, Australia, and Asia. Clinical results from more than 1,500 treated patients, including several years of in-market use in Japan, support Glufast's safety and effectiveness and will be used in Elixir's registration efforts in its licensed territories.

Under the terms of the licensing agreement with Kissei, Elixir will have the right to develop and commercialize Glufast, as well as future products that combine Glufast with other compounds, in the U.S., Canada, and Latin America. For these rights, Elixir will make payments to Kissei based on predetermined milestones, as well as pay a royalty to Kissei on net sales. Additional financial terms were not disclosed.

About Type 2 Diabetes

Type 2 diabetes is a serious and debilitating disease, affecting 14 million patients i
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