Aug 22 2012
PhaseBio Pharmaceuticals, Inc., a privately held, clinical-stage
biotechnology company developing drugs to treat diabetes, metabolic
disease and cardiovascular disease, announced today that it has
initiated dosing in a multicenter (USA), randomized, placebo and active
comparator controlled Phase 2b study that will enroll approximately 600
patients with type 2 diabetes (hemoglobin A1c 7% - 11%) inadequately
controlled with diet and exercise, metformin, a sulfonylurea or a
combination of metformin/sulfonylurea. The study will evaluate the
efficacy and safety of three doses of once weekly Glymera compared to
matched placebo as well as an active comparator. This study is targeted
to complete by 3Q2013.
As a result of very promising Phase 1/2a results (data presented at
American Diabetes Association Meeting, June 2012), PhaseBio raised an
additional $23 million in May 2012 in a third tranche of a Series B
financing to support Phase 2b clinical testing of Glymera for the
treatment of type 2 diabetes. This brought to a total of $48.4 million
the amount raised from the Series B, which was led by New Enterprise
Associates with participation by Hatteras Venture Partners, Johnson &
Johnson Development Corporation, Astellas Venture Management and
Fletcher Spaght Ventures.
"We are extremely pleased at the rapid progress we have made since our
first IND filing in October 2010 to make once weekly Glymera a
competitive player in the GLP-1 space, as evidenced by very strong
efficacy data that gives us, as well as our investors, the confidence
that we will be able to establish product differentiation from other
GLP-1 agonists with improved tolerability and efficacy in this Phase 2b
trial," says Craig Rosen, PhD, Chief Scientific Officer, PhaseBio.
Source: PhaseBio
Pharmaceuticals, Inc.
Research links self-efficacy to better diabetes management in adolescents