BOT 1.85% 5.5¢ botanix pharmaceuticals ltd

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    watcorp - I've been watching sign mate of mine told me about them. Posted below is BNE release for 21/12/04. Sounds exciting but unsure timeframe when drug will be available on market. Anybody know?

    21 December 2004

    for Oral Therapeutics to Treat Rheumatoid Arthritis

    Biopharmaceutical development company Bone Medical Limited (ASX: BNE) is delighted to announce the successful completion of an initial study with the Institute of Bone and Joint Research
    (IBJR) to advance the Company’s rheumatoid arthritis product BN006.

    Bone Medical’s product BN006 is being developed to regulate tumour necrosis factor (TNF) levels, the primary contributing factor in rheumatoid arthritis. The current global market for injected anti-TNF products is approximately US$3.3 billion per annum, with sales expected to grow beyond US$5 billion by 2005.

    The IBJR study successfully demonstrated that the lead candidate from Bone Medical’s library of TNF regulators can reduce levels of TNF in an animal model of its release. A fact sheet on the study is attached.

    Bone Medical’s Chief Operating Officer John Fitzgerald said that this was a major outcome for the Company as it is a tremendous leap in product development to move from being effective on cell lines arrayed in a dish to being effective in a living animal with its numerous inter-related biological systems.

    “This study used a substance called LPS to promote inflammation and TNF release in the test animals. When pre-treated with BN006 the amount of TNF released was significantly reduced without being completely eliminated, which is important to avoid side effects, and the weight loss normally seen with elevated TNF levels was also reduced” said Mr Fitzgerald. “Whilst the results from this initial study are preliminary, they are most encouraging and very exciting for the Company.”

    “With rising concerns over side effects of products to treat rheumatoid arthritis, and the recent withdrawal of a leading arthritis product which sold US$1.5 billion per annum and treated tens of millions of patients worldwide, we believe BN006 is well placed to eventually help fill the increasing treatment void.”

    “These results will allow the Company to push ahead with further pre-clinical testing of this variant of
    BN006 and to investigate the potential of other members of the BN006 library of peptides,” he said.

    “This is another significant milestone achieved for Bone Medical and further demonstrates our ability to deliver milestones as promised.”

    In summary, BN006 may have significant competitive advantages:

    Unlike antibody based products which are delivered either as injections or infusions, BN006
    has the potential to be taken as a tablet

    It does not completely eliminate TNF from the system, a substance essential to the body’s normal immune responses; thus it is envisaged patients may not suffer from the same side effects as currently available products

    Current TNF antibody treatments are expensive and complex to manufacture, whereas BN006
    variants have already been pilot manufactured using a relatively simple synthetic process.

    - ENDS -

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