Ore Pharmaceuticals Begins Clinical Trial of GL1001
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Company Initiated Inflammatory Bowel Disease Drug Candidate's First Multiple Dose Trial
GAITHERSBURG, Md.--(BUSINESS WIRE)--
Ore Pharmaceuticals Inc. (NASDAQ: ORXE) announced today that it has initiated dosing subjects with GL1001, the Company's lead drug candidate, in a multiple ascending dose clinical trial. GL1001, the first clinical-stage inhibitor of the ACE2 enzyme, is an orally administered small molecule that has decreased several disease activity measures in in vivo models of inflammatory bowel disease (IBD) and gastritis. GL1001 was administered previously in a Phase I single ascending dose clinical study completed in the United Kingdom, where it was well tolerated and exhibited favorable pharmacokinetics consistent with once daily dosing. Ore Pharmaceuticals is pursuing the clinical development of GL1001 in parallel with its efforts to out-license or partner the development of the compound in later-stage clinical trials.
Stephen Donahue, M.D., Senior Vice President of Clinical Development at Ore Pharmaceuticals, said, "We are pleased to have begun multiple dose clinical testing of this novel, repositioned drug candidate for treatment of IBD. GL1001 was initially developed to treat obesity. Our current trial will assess the tolerability, pharmacokinetics and pharmacodynamics of the compound as a potential drug to treat IBD."
Ore Pharmaceuticals Chief Executive Officer, Charles L. Dimmler, III, commented, "Beginning the clinical trial of GL1001 is a significant first milestone for the Company resulting from our focus on drug development. We believe GL1001 offers an important partnering opportunity because it's a first in class compound. It's a compound we understand well, has been extensively studied, and shows strong potential to meet a significant unmet medical need." |
