Altea Therapeutics Begins Phase 1 Clinical Trial for AT1022, a Hydromorphone Skin Patch, for the Management of Severe Pain.Business Editors/Health/Medical Writers TUCKER, Ga.--(BUSINESS WIRE)--June 3, 2003 Altea Therapeutics announced today that it has commenced Phase 1 clinical trials phase 1 clinical trial Phase 1 study. See Phase study. in the U.S. for AT1022, the Company's hydromorphone skin patch skin patch, transdermal patch, or transdermal delivery system, adhesive patch used to deliver a controlled dose of a drug through the skin over a period of time. designed to provide rapid and sustained delivery of a potent opiate opiate /opi·ate/ (o´pe-it) 1. any drug derived from opium. 2. hypnotic (2). o·pi·ate n. 1. for the management of severe pain. AT1022 incorporates the Company's proprietary PassPort(TM) system, developed to deliver protein and peptide drugs, small-molecule drugs, genes and vaccines across the skin for local and systemic effect. Pain is the second most prevalent cause of employee absenteeism in the U.S. according to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. the American Pain Society, causing in excess of 50 million lost work days in 2002. Dr. Allen H. Hord, who is Director of the Division of Pain Medicine at Emory University Emory University (ĕm`ərē), near Atlanta, Ga.; coeducational; United Methodist; chartered as Emory College 1836, opened 1837 at Oxford. It became Emory Univ. in 1915 and in 1919 moved to Atlanta. School of Medicine and a medical advisor to Altea Therapeutics, comments, "The development of a rapid onset pain patch could greatly benefit many patients with chronic pain for whom oral narcotics narcotics n. 1) techinically, drugs which dull the senses. 2) a popular generic term for drugs which cannot be legally possessed, sold, or transported except for medicinal uses for which a physician or dentist's prescription is required. are not effective and for whom injections or infusion pumps are not practical. The rapid and controlled management of pain without needles is a large unmet need in medicine today." The worldwide market for opioid opioid /opi·oid/ (o´pe-oid) 1. any synthetic narcotic that has opiate-like activities but is not derived from opium. 2. any of a group of naturally occurring peptides, e.g. pain products is estimated at over $4 billion. "The current inadequate treatment of severe pain is a pressing issue for clinicians and patients alike," stated Dr. Eric Tomlinson, Chief Executive Officer of Altea Therapeutics. "AT1022 is designed to offer rapid and sustained delivery of a powerful opiate, hydromorphone, while allowing rapid discontinuation dis·con·tin·u·a·tion n. A cessation; a discontinuance. Noun 1. discontinuation - the act of discontinuing or breaking off; an interruption (temporary or permanent) discontinuance of treatment if needed." The Company's Phase 1 clinical trial is a pharmacokinetic/pharmacodynamic study designed to determine the optimal product characteristics for AT1022 that will meet the pain management requirements of patients suffering severe pain. About Altea Therapeutics Altea Therapeutics is a private Company developing innovative medicines in collaboration with the pharmaceutical and biotechnology industry. The Company uses its proprietary PassPort(TM) system to deliver protein and peptide drugs, small-molecule drugs, genes and vaccines from a skin patch, eliminating the need for invasive and painful needle injections. In addition to hydromorphone, the Company is conducting Phase 1 clinical trials in the U.S. for a daily skin patch to achieve continuous basal levels of insulin for patients with diabetes. Founded in 1998, Altea Therapeutics completed its Series B equity financing Equity Financing The act of raising money for company activities by selling common or preferred stock to individual or institutional investors. In return for the money paid, shareholders receive ownership interests in the corporation. of $17 million in November 2002 with Domain Associates, Venrock Associates and vSpring Capital vSpring Capital is an early-stage venture capital firm located in Salt Lake City, Utah. The fund currently manages approximately $200M and investing out of its second fund. as new investors. Please visit www.alteatherapeutics.com for further information. NOTE: PassPort(TM) is a trademark of Altea Therapeutics Corporation. Any other trademarks referred to belong to their respective owners. The statements in this press release regarding the products of Altea Therapeutics in development, product development plans, and projected financial results, are forward-looking statements involving risks and uncertainties that can cause actual results to differ materially from those in such forward-looking statements. Potential risks and uncertainties include, but are not limited to, Altea Therapeutics ability to complete the design, development, and manufacturing process development of its products, manufacture and commercialize its products, obtain product and manufacturing approvals from regulatory agencies, manage its growth and expenses, finance its activities and operations, as well as marketplace acceptance of Altea Therapeutics products. |
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