Dublin-based AGI Therapeutics said yesterday that a drug it is developing to treat gastrointestinal disorders showed "positive" results during its Phase II trial.
The drug, arverapamil, is designed to treat non-constipation predominant irritable bowl syndrome (IBS). Test results showed a "compelling case for progressing" the drug "into late stage clinical development", AGI said. It estimated that the US prescription therapeutic drug market for IBS was more than $400 million (€312 million) in 2005.
Currently, there are "very few efficacious treatments" for IBS, AGI chief operating officer Mary Martin said.
A second drug, espindolol, designed to treat functional dyspepsia was not as successful. The drug is also involved in a Phase II trial to test its effectiveness against IBS. The results are expected in the third quarter.
Dr John Devane, AGI chief executive, said the firm was "delighted" with arverapamil's results and it would now work on moving the product into late stage clinical development.
"Our overall strategy of identifying a lead product by the end of the year from our broad portfolio for late stage clinical development is very much on track and arverapamil is the third of our six clinical candidates to provide encouraging data this year," he added.
