27th Mar 2015 08:19
LONDON (Alliance News) - Oxford Pharmascience Group PLC shares rose on Friday morning after the company reported successful results from a pilot clinical study on its OXPzero Naproxen gastrointestinal treatment.
Oxford said the headline data showed results that demonstrate bioequivalence and that the OXPzero immediate release technology has been successfully optimised to allow immediate and complete drug release.
Full results of the study will be published in the next couple of weeks, Oxford Pharmascience said, but it added that based on the current data, it will progress to a proof-of-concept endoscopy study to demonstrate the reduced gastrointestinal irritation benefits of the OXPzero naproxen product.
"Demonstrating the bioequivalence of immediate release OXPzero Naproxen is a great result and a significant milestone for Oxford Pharmascience. This allows us to proceed with confidence to the endoscopy trial to demonstrate the reduced gastric irritation benefit of OXPzero Naproxen, and also confirms that the technology has been successfully optimised to achieve immediate and complete drug release," said Chief Executive Marcelo Bravo.
Shares in the company were up 10% in early trade to 9.962 pence, one of the best performers in the AIM All-Share.
By Sam Unsted; [email protected]; @SamUAtAlliance
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