MARKHAM, ON, March 29 /PRNewswire/ - Cytochroma announced today that it has secured $3 million in new funding from the Canadian Medical Discoveries Fund Inc. (CMDF) and University Medical Discoveries Inc. (UMDI). This new funding will help support two ongoing clinical trials, a Phase I trial for secondary hyperparathyroidism and a Phase II trial in chronic plaque psoriasis as well as the initiation of two other clinical programs in 2007.
Cytochroma recently initiated a Phase I clinical trial of CTA018 Injection under development for the treatment of secondary hyperparathyroidism in chronic kidney disease patients. This trial is an open label, placebo-controlled, randomized study of CTA018 administered intravenously to 20 healthy volunteers. The goal of the trial is to evaluate the safety of single doses of CTA018 Injection up to a high dose of 180 micro g. Two dose levels of CTA018, one being the maximum tolerated dose, will be further evaluated during repeated administration in a continuation of this safety study set to begin in April 2007. Final results for the clinical trial are expected in July 2007.
Cytochroma recently completed enrollment in a Phase II trial of CTA018 Cream as a new treatment for chronic plaque psoriasis. The trial, which is on schedule for completion in May 2007, is a randomized, double-blind, placebo controlled study being conducted in 16 clinics across the United States with a total of 147 subjects. Final results from this trial will be available in July 2007.
"We are excited about the recent progress made by Cytochroma in bringing products to the clinic, and we are pleased to continue our support of Cytochroma's promising pipeline of clinical candidates," stated Dr. Michael Cross, Senior Vice President, Jove Investment Management Inc., manager of CMDF and UMDI.
"Cytochroma is right on track to achieving the key business milestones that we have targeted for 2007," stated Mr. Eric Messner, Vice President, Commercial Operations. "This new funding is in addition to the recent $21 M financing announced by Cytochroma in January of this year."
About Cytochroma Inc.
Cytochroma (www.cytochroma.com) is an integrated specialty pharmaceutical company engaged in the development and commercialization of proprietary products to treat and prevent the clinical consequences of diseases and disorders related to vitamin D deficiency and chronic kidney disease (CKD). The Company has an advanced portfolio of new products targeting vitamin D deficiency and secondary hyperparathyroidism in patients with moderate to severe CKD and end-stage renal disease. In addition, the Company has a psoriasis candidate in Phase II clinical development and is developing a portfolio of candidates to address hyperphosphatemia in CKD including novel antibody products. Cytochroma is a privately held company with offices in Markham, Ontario.
Cytochroma Inc.CONTACT: Eric J. Messner, Vice President, Commercial Operations, (905)479-5306 ext. 338, eric.messner@cytochroma.com