Maxim says drug can stop liver damage from alcohol
STOCKHOLM, March 4 (Reuters) - U.S.-Swedish biotech Maxim Pharmaceuticals (NasdaqNM:MAXM - news) said on Monday an animal study showed that its drug Ceplene could completely reverse damage to the liver caused by alcohol.
Pre-clinical testing showed that rats injected with ethanol and the company's drug Ceplene sustained no liver damage, while rats given only ethanol developed symptoms related to alcohol abuse, the company said.
``We've shown we could completely reverse the damage made by the alcohol,'' Maxim Chief Scientific Officer Kurt Gehlsen told analysts at a meeting in Stockholm.
Maxim expects clinical testing of Ceplene against alcoholic liver disease and non-alcoholic steatohepatitis to start this year. Any drug must go through three different phases of clinical trials, which typically take several years, before being approved for sale to the public.
In the United States one out of 10 people suffer from chronic liver diseases such as cirrhosis and fatty liver, Maxim said.
Ceplene, with the scientific name histamine dihydrochloride, is also in clinical trials for use against hepatitis C and different forms of cancer.
``Hepatitis C is a two billion dollar market, but this is way bigger ... I have to say we are pretty enthusiastic for the prospects of Ceplene against chronic liver diseases,'' Maxim Chief Executive Larry Stambaugh said.
The company's shares rose 3.7 percent to $5.94 in early U.S. trading, while they gained 3.3 percent to 62.50 Swedish crowns ($5.99) in Stockholm on Monday.
The company would not disclose any further details of the animal study, which will be presented at the EASL conference for liver studies in Madrid starting April 18.
In late 2000, the U.S. Food and Drug Administration rejected Maxim's application to market Ceplene, then called Maxamine, for treatment of skin cancer.
The company's shares then plunged 92 percent from levels above $60 in late 2000 to a low of $5. |
