Celtrix Announces Discontinuation of Ophthalmic Program.SANTA CLARA Santa Clara, city, Cuba Santa Clara (sän`tä klä`rä), city (1994 est. pop. 217,000), capital of Villa Clara prov., central Cuba. , Calif.--(BUSINESS WIRE)--Feb. 6, 1995--Celtrix Pharmaceuticals, Inc. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on : CTRX CTRX Contractions (labor & delivery) ) announced today that its interim analysis of Phase II human clinical data shows no clinical benefit in using BetaKine(R) to treat patients with age-related macular degeneration Age-related macular degeneration (ARMD) Degeneration of the macula (the central part of the retina where the rods and cones are most dense) that leads to loss of central vision in people over 60. (AMD (Advanced Micro Devices, Inc., Sunnyvale, CA, www.amd.com) A major manufacturer of semiconductor devices including x86-compatible CPUs, embedded processors, flash memories, programmable logic devices and networking chips. ). "Our objective with this study was to determine whether BetaKine therapy could slow or halt disease progression and stabilize vision in AMD patients," said Dale A. Stringfellow, Ph.D., Celtrix's president and chief executive officer. "An initial, open-label Phase I/II clinical feasibility study for AMD had demonstrated encouraging results. However, patients in the placebo-controlled, closed-label Phase II study showed continued disease progression and loss of visual acuity visual acuity n. Sharpness of vision, especially as tested with a Snellen chart. Normal visual acuity based on the Snellen chart is 20/20. Visual acuity The ability to distinguish details and shapes of objects. despite BetaKine therapy." Treatment of age-related macular degeneration was the largest ophthalmic market opportunity under investigation by Celtrix. As a result of the Phase II AMD findings and the previously announced inconclusive Phase III macular hole results, Celtrix has decided to discontinue all internal BetaKine ophthalmic studies. The company plans to reduce related expenses but will meet its remaining legal and regulatory requirements in closing out the ophthalmic program. Celtrix remains optimistic about the value of using BetaKine for non-ophthalmic disease indications. This therapeutic agent continues to be in development through a collaborative relationship for wound healing wound healing Physiology The repair of a wound Steps Inflammation, repair and closure, remodeling, final healing; repair of incisions may be either simple–'clean' wounds with little loss of tissue heal by 'primary intention', or 'dirty' wounds heal by and the treatment of systemic disease. The company will now focus internal resources primarily on its IGF-BP3 complex, SomatoKine(R). Celtrix has been developing SomatoKine for the treatment of muscle wasting and osteoporosis, and has scaled up the manufacturing process to support formal toxicological testing and initial human clinical studies. "The positive preclinical safety, pharmacokinetic and efficacy data we are obtaining with SomatoKine, along with the strong corporate alliance we have on osteoporosis with the Green Cross Corporation, position Celtrix to move aggressively in the development of this promising product candidate," Dr. Stringfellow said. Celtrix is a biopharmaceutical company focused on the treatment of seriously debilitating de·bil·i·tat·ing adj. Causing a loss of strength or energy. Debilitating Weakening, or reducing the strength of. Mentioned in: Stress Reduction , degenerative conditions primarily associated with aging or chronic diseases. In-house product development programs currently target the treatment of muscle wasting, osteoporosis and cancer-related diseases. CONTACT: Celtrix Pharmaceuticals Inc. R. Ray Cummings, Vice President, 408/988-2500 |
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