British Biotech plc Development of BB-2983 discontinued.OXFORD, England--(BUSINESS WIRE)--Oct. 3, 1997--British Biotech announces that the development of BB-2983, a potential disease-modifying oral anti-inflammatory drug, has been discontinued. BB-2983 was licensed to Glaxo Wellcome in September 1995 and was undergoing exploratory development for arthritis and inflammatory bowel disease inflammatory bowel disease n. Abbr. IBD Any of several incurable and debilitating diseases of the gastrointestinal tract characterized by inflammation and obstruction of parts of the intestine. . The decision to discontinue the BB-2983 collaboration was taken as a result of unexpected side effects Side effects Effects of a proposed project on other parts of the firm. seen in long-term preclinical toxicity studies. Commenting on the decision, Dr Keith McCullagh, British Biotech's Chief Executive, said, "It is disappointing that BB-2983 has not fulfilled the potential that was hoped for it. This has no implication for the development of marimastat, British Biotech's matrix metalloproteinase inhibitor for cancer. Marimastat, currently in Phase III Noun 1. phase III - a large clinical trial of a treatment or drug that in phase I and phase II has been shown to be efficacious with tolerable side effects; after successful conclusion of these clinical trials it will receive formal approval from the FDA studies, is a different compound with different biological activities." CONTACT: British Biotech British Biotech was a British based biotech company. British Biotechnology Limited was founded in 1986 by former G D Searle managers Keith McCullagh and Brian Richards, [1] plc Katie Arber, Head of Corporate Communications Corporate communications is the process of facilitating information and knowledge exchanges with internal and key external groups and individuals that have a direct relationship with an enterprise. 011-44-1865-781166 or Glaxo Wellcome plc Nancy Pekarek, Media inquiries 011-44-171-493-4060 Jennie Younger/Joan Toohill, UK Analyst/Investor inquiries 011-44-171-493-4060 Frank Murdolo, US Analyst/Investor inquiries 212-308-5185 or British Biotech Inc. Dr. Peter McCann, Ph.D., President 410-266-7909 or G.A. Kraut kraut n. 1. Sauerkraut. 2. often Kraut Offensive Slang Used as a disparaging term for a German. [German; see sauerkraut.] Noun 1. Company Gerard Coffey, Vice President 212-696-5600 |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion