BRISBANE, Australia, March 11 /PRNewswire/ -- Australian drug development company CBio Limited today announced the achievement of a clinical trial milestone under its option agreement with global pharmaceutical leader Novo Nordisk A/S. The agreement relates to the development of XToll, the potential new-generation drug therapy which could provide safer and more effective treatment of autoimmune diseases such as rheumatoid arthritis (RA).
“We remain greatly encouraged by progress in the trial and feedback from clinical investigators, and are focussed on completing the trial and receiving the final results,” said CBio Managing Director Jason Yeates.
“Many patients are only partial responders to existing therapies and adverse effects from these therapies are a real issue being faced by RA patients every day. Safer and more effective treatments are needed,” he said.
The agreement was signed in May 2008 and grants Novo Nordisk an exclusive option to negotiate an exclusive licence to CBio’s intellectual property surrounding XToll which is currently in phase II clinical trials at sites across Australia and New Zealand. Additional clinical trial sites in Serbia, Bosnia and Georgia are expected to commence recruitment this month.
Headquartered in Denmark, Novo Nordisk employs more than 29,000 people in 81 countries and markets its products in 179 countries.
www.cbio.com.au
CONTACT: media, Melanie Farris, Manager, Corporate Projects of CBio
Limited, +61 449 148 448, melanie.farris@cbio.com.au, or Ian Pemberton of
P&L Corporate Communications, +61 402 256 576,
ian.pemberton@plcorporate.com.au; company & investor relations, Ben Graham,
Company Secretary of CBio Limited, +61 7 3841 4844, ben.graham@cbio.com.au
Web site: http://www.cbio.com.au/
