31st Jul 2015 08:32
LONDON (Alliance News) - Oxford Pharmascience Group PLC said Friday that it is encouraged by results from its pilot clinical study of its OXPzero tablet, although it did not meet one of its two primary endpoints.
Shares in Oxford Pharmascience were down 20.2% at 7.18 pence Friday morning.
The study was of OXP005 - a re-application of the company's OXPzero technology as it has been developed for ibuprofen, designed to cause less upper gastro intestinal irritation than anti-inflammatory drug naproxen.
The tablet was being studies in comparison with Naprosyn with two primary endpoints; a comparison of its overall Lanza score - a clinical rating score of gastrointestinal irritation in the stomach and duodenum on endoscopic evaluation - and a comparison of the total number of erosions observed in the stomach and duodenum.
Oxford Pharmascience said that in the study both OXP005 and Naprosyn exhibited a similar Lanza score, however, the Lanza score endpoint was not met. OXP005 met its other primary endpoint of reduced erosions.
The company said it was encouraged by the results, and believes further work will bring the OXPzero Naproxen technology to its "full potential." IT believes it can improve its results by adapting the OXPzero technology specifically for the naproxen molecule.
Headline pharmacokinetic data from a further study of its OXPzero Ibuprofen, OXP001, in an optimised chewable form will be reported in the coming weeks.
"We are confident in the future potential of the OXPzero platform as we implement the further work to be done to exploit the full potential of naproxen and provide further data to support commercial discussions," said Chief Executive Officer Marcelo Bravo in a statement.
"With additional funds on board to allow us to generate further data, and additional endoscopy data from our further pilot clinical study for ibuprofen expected by the end of October, the plan remains to commence partnering discussions with the aim of maximising future value for the Company and its shareholders," Bravo added.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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