Forbes Medi-Tech Announces the Addition of Two Novel Cholesterol Absorption Inhibitors to its Drug Development Pipeline
7/29/04
VANCOUVER, British Columbia, Jul 29, 2004 (BUSINESS WIRE) --
Forbes Medi-Tech Inc. (NASDAQ:FMTI) (TSX:FMI) today announced the addition of two novel cholesterol absorption inhibitors to its drug development program. Plans for the US Phase II clinical study of its lead compound, FM-VP4, were announced earlier this mo
nth, with an expected Q2 2005 start date.
"With the knowledge that we have gained from Forbes' sterol technologies and our studies on cholesterol absorption inhibition during the development of FM-VP4, we are looking forward to advancing our second and third compounds to the clinic, likely in 2005 and 2006, respectively," said Charles Butt, President and CEO of Forbes Medi-Tech.
The first compound, FM-VA12 is a novel single molecular entity that has been shown in animal studies to inhibit cholesterol absorption with efficacy at least equal to that of FM-VP4.
"We are using several different animal models to surmise the potential of Forbes' compounds in lowering LDL-cholesterol and, more importantly, reducing and/or delaying atherosclerotic plaque formation," stated Project Leader Dr. Kish Wasan, Associate Professor Canadian Institutes of Health Research University/Industry Research Chair, University of British Columbia, "We expect to complete our full set of studies on FM-VA12 by the end of this year and are pleased with the initial results."
The second compound, FM-VP24, is a novel analogue, which inhibits cholesterol absorption while also exhibiting anti-inflammatory activity. "Although our research on FM-VP24 is very early stage, we are intrigued by the enormous potential of a drug that may combine the effects of LDL cholesterol lowering with anti-inflammatory activity," said Butt.
"We intend to proceed directly to a more definitive animal model study with FM-VP24. Additionally, we are evaluating strategic licensing solutions that may include an early partnership program. This strategy fits well with our intention to further diversify our drug development pipeline through potential M&A activities." |
