Welichem Gets Approval for Phase I Clinical Trials
- Category: Small Molecules
- Published on Thursday, 12 July 2007 04:00
- Hits: 1174
BURNABY, Canada | July 10, 2207 | Welichem Biotech Inc. ("WBI" or the "Company") (TSX-V: WBI - News) is proud to announce that on July 6, 2007, Health Canada approved the Company's Clinical Trials Application (CTA) to begin WBI's Phase I Clinical Trials of its anti-psoriasis drug candidate, WBI-1001.
As a result, the Company will initiate its Phase I Clinical Trials of WBI-1001 within the next week, in Montreal, in a medically supervised study involving 36 patients suffering mild to moderate psoriasis. More than 80% of psoriasis sufferers are in this category. The world-wide market for psoriasis treatment exceeds $3 billion (US) per year; it is expected to grow to near $4 billion (US) by 2011.
WBI's anti-psoriasis candidate is just one application of its proprietary, and patented, synthetic small molecule, pre-targeted anti-inflammatory treatment compound. The Company expects to begin its formal pre-clinical development of its anti-cancer drug candidate, WBI-2100, in the Fall, 2007.
Clinical data on safety and efficacy from the Phase I Clinical Trials of the Company's anti-psoriasis candidate should be available by the end of this year. If the results are as the Company expects, Phase II trials should commence in mid-2008. Meantime, the Company continues on its rigorous research and development schedule.
York Guo, President and CEO of Welichem, in a congratulatory note to the WBI-1001 team, stated: "I congratulate all of you on successfully receiving CTA approval for our unique WBI-1001 compound. I thank you all for your dedicated and extraordinary work on the project. This clearly is the greatest milestone that Welichem has yet achieved. And I know that it is a first, that your continuing efforts on the clinical trials, and on the impending roll-out of our anti-cancer drug candidate, WBI-2100, will bring us many more such significant milestones in the near future."
Having just closed its most recent financing, and adding to its superlative management team, and now with its CTA approval from Health Canada, the Company is on-track with its ambitious strategic development program.
About Welichem Biotech Inc.
Welichem Biotech Inc. is a publicly-traded biotechnology company developing therapeutic drugs in the fields of autoimmune diseases and cancer.
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the content of this news release. This press release contains forward-looking statements that include our belief as to the potential of our products. Certain risks and uncertainties such as our ability to successfully commercialize the products could cause the Company's actual results to differ materially from those in the forward-looking statements.
SOURCE: Welichem Biotech Inc.