4 December 2009: Biocompatibles International plc is pleased to announce that it will initiate clinical trials for CM3, a type II diabetes drug, under development with AstraZeneca, in January. Biocompatibles entered into an agreement with AstraZeneca in December 2008 to develop CM3. The agreement included pre-clinical, Phase I and Phase IIa activities managed by Biocompatibles’ subsidiary, CellMed. Phase I studies are scheduled to start early in 2010 and Phase II studies are expected to start later in 2010. The pre-clinical phase of the programme was completed ahead of schedule with positive results.
A further €4.3m instalment of a schedule of payments of €8.8m, first announced by Biocompatibles on 22 December 2008, will be paid by AstraZeneca in January.
CM3 is a glucagon-like peptide-1 (GLP-1) analogue invented and developed by CellMed and is part of a new family of GLP-1 analogues. The first of the relevant patents has recently been granted. This GLP-1 compound has the potential to be an important treatment for diabetes and obesity and may offer patient benefits not currently available from other GLP-1 drugs on the market.
The agreement also provides AstraZeneca with an exclusive option to license relevant patents for further exploitation, at any time during the course of the development programme, which is expected to be completed in 2012... Biocompatibles' Press Release -
