AtheroGenics, which has been testing a drug called AGI-1067
against diabetes after it failed for heart disease, said Sept.
Shares in drugs giant AstraZeneca look set for a bumpy ride in the next fortnight, with positive news expected for cholesterol fighter Cres-tor but experimental heart drug AGI-1067 widely tipped to fail in a key study.
"Everyone expects AGI-1067 to fail but if it does, you've probably still got some downside.
The Anglo-Swedish company, on a drive to rebuild its pipeline, agreed in December 2005 to pay AtheroGenics Inc up to EUR1 billion (pounds 520.8 million) for exclusive rights to AGI-1067, which works in a novel way to stop the plaque inside arteries that can lead to heart attack and stroke.
Such a drug (AGI-1067
from Atherogenics) is in the last stage of human testing, with the results expected by the second half of this year.
The alliance gives AstraZeneca, Europe's third-largest pharmaceutical firm, rights to AGI-1067, a novel pill that is currently undergoing Phase III clinical trials.
That unit will copromote AGI-1067 and an unnamed AstraZeneca cardiovascular drug.
"We believe that AtheroGenics' approach to partnering AGI-1067 has provided both companies with a potential win-win situation."
on the signing of a significant commercialization agreement for AGI-1067, its novel oral therapy for the treatment of atherosclerosis.
"This partnership will significantly enhance the commercial potential of AGI-1067 and position AtheroGenics to emerge as a leader in cardiovascular medicine."
The company currently has 4 vascular protectant programs in development including AGI-1067
, an oral agent in Phase II clinical trials for the treatment of retenosis and atherosclerosis.
(Nasdaq) rose $2.15, or 22%, to $12.06, The tiny drug developer is working on a medicine for treating coronary heart disease, and investors are waiting on news about the latest clinical trial of compound AGI-1067