XTL Biopharmaceuticals Ltd. (Nasdaq:XTLB); LSE: XTL; TASE:XTL) has stopped development of XTL-2125 for chronic Hepatitis C, after Phase I clinical trials failed to demonstrate that the drug was effective. Although the trial showed the drug was generally well tolerated, the HCV-RNA viral load reductions proved statistically insignificant compared with the placebo control group.
The study enrolled 56 patients into seven cohorts comprised of eight patients each, of which two were placebo patients.
XTL CEO Ron Bentsur said, "The completion of this Phase I trial concludes our research on the XTL legacy compounds that we inherited. Through an aggressive business development effort, XTL's new management team has successfully reinvented the company's product portfolio - with Bicifadine as a lead product in late stage clinical development, and the XTL-DOS program, which is emerging as a very promising program in Hepatitis C.”
In January, XTL bought an exclusive, worldwide license with Dov Pharmaceutical Inc. (Pink Sheets: DOVP.PK) for the development and commercialization of Dov's novel drug candidate, bicifadine, a treatment for acute post-surgical pain.
XTL’s share fell 16% in morning trading on the TASE following the news.
Published by Globes [online], Israel business news - www.globes.co.il - on June 6, 2007
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