11/17/2008 10:00:45 AM
IRVINE, Calif.--(BUSINESS WIRE)--Cenomed BioSciences, LLC, a majority-owned subsidiary of Abraxis BioScience, Inc. (NASDAQ:ABII), today announced the presentation of results of research was presented at the 38th Annual Meeting of the Society for Neuroscience in Washington DC. This work has identified two lead compounds from the company's drug program with promise for the treatment of schizophrenia and post traumatic stress disorder (PTSD). The potential anti-psychotic, CM-2,303, has a unique mechanism of action and has shown positive data in pre-clinical models predicting effectiveness in the treatment of schizophrenia. This data was instrumental in the Company's recent decision to file an Investigational New Drug (IND) application with the U.S. Food and Drug Administration (FDA) to begin clinical testing of CM-2,303. “We will be conducting pre-clinical safety studies to satisfy FDA requirements for an IND and hope to begin a Phase 1 study of CM-2,303 exploring the drug's safety and efficacy in humans during the second half of 2009,” said Ernest Pfadenhauer, Vice President of Pharmaceutical Development of Cenomed BioSciences.
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