Neopharm Drug IL-13 Fails in Late Stage Clinical Trials
The Chicago Tribune reported last week that Neopharm’s drug IL-13 (cintredekin besudotox) for treatment of brian tumors failed in late stage clinical trials. The drug failed to perform any better than currently approved therapies.
NeoPharm drug fails test | Chicago Tribune
The bulk of the article focuses on how this may impact the biotech industry in the Chicago area.
I should mention that trying to develop treatments for brain tumors, in this case glioblastoma multiforme is quite difficult. The primary difficulty is in getting drugs to cross the blood-brain barrier. They were comparing IL-13 to the Gliadel wafer implant.
This is indeed a setback for Neopharm and after the announcement the stock fell 70%. There other projects are much earlier in development and could take two years or more of development and the company has about 30 million os cash that should get it through 2008 but that may not be long enough.
Neopharm will be an interesting company to keep in eye on for the next few years to see if their other projects proceed. They may become a take-over target if their stock price continues to drop and some company feels there neolipid drug delivery technology is worthwhile. It is estimated that this technology may be worth ~$20 million.
Other Resources
NEOPHARM Announces Efficacy Results for Phase 3 PRECISE Trial
Technorati Tags: cintredekin besudotox, IL-13, Neopharm
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