30th Mar 2015 07:00
LONDON (Alliance News) - Intellectual property company IP Group PLC on Monday said its Diurnal Ltd portfolio company has started the phase three trials for its Infacort paediatric adrenal insufficiency treatment product.
The phase three trial is expected to be completed in the third quarter of 2016 and has been funded by the European Commission under its EU Framework 7 "Treatment of Adrenal Insufficiency in Neonates and Infants" grant, FTSE 250-listed IP Group said.
"This is a major milestone for Diurnal as it seeks to progress the first drug to specifically address adrenal insufficiency in young children towards market authorisation. It is also extremely important for IP Group as this represents the first of the Group's portfolio companies to enter a product into a Phase 3 trial and demonstrates further strong progress in the Biotech division," said IP Group Chief Executive Alan Aubrey.
By Sam Unsted; [email protected]; @SamUAtAlliance
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