ASX ANNOUNCEMENT PHASE I CLINICAL COLLABORATION AGREEMENT SIGNED WITH THE CENTRE FOR DIGESTIVE DISEASES • Medical Therapies and the Centre for Digestive Diseases have signed a collaboration agreement to test the safety and efficacy of Cuprindo™ in humans. • Cuprindo™ will be tested as a topical formulation in acute inflammatory conditions of the digestive system in Phase I clinical trials. • Medical Therapies will provide Cuprindo™ and the Centre For Digestive Diseases will cover all other costs of the trials. • New intellectual property developed through the trials will be owned 50/50 between Medical Therapies and the Centre for Digestive Diseases. Sydney, 4 June 2007: Medical Therapies Limited, (ASX: MTY), announced today that it has signed a Heads of Agreement to collaborate with the Centre for Digestive Diseases (CDD), an international clinical organisation based in Sydney, for Phase I clinical trials of Cuprindo™, MTY’s lead drug candidate. Cuprindo™ will be tested for safety and early efficacy in acute conditions in an open label clinical trial using topical formulations. According to the agreement MTY will supply its Cuprindo™ compound to the CDD to be formulated for topical applications in up to three different acute inflammatory conditions of the gastrointestinal tract. The CDD will pay all expenses associated with the clinical trials including the cost of ethics committee approvals. “We are delighted to have formalised our relationship with the CDD, a specialist hospital and clinical research facility with an outstanding international reputation in the treatment of gastrointestinal condition. This is a very significant step in taking our patent protected technology closer to market,” the Chief Executive Officer of Medical Therapies, Maria Halasz, said. Professor Thomas Borody, Medical Director of the CDD, said Cuprindo™ would be used in acute inflammatory conditions of the gastrointestinal system. “We regularly see patients who need effective relief in conditions such as distal proctitis and acute cholecystitis. Cuprindo™ may just be the treatment which provides that relief,” Professor Borody said. New intellectual property developed during the collaboration will be owned equally by Medical Therapies and the CDD. Trial protocols and plans are currently being finalised between the parties with trials expected to commence in early 2008.
MTY Price at posting:
0.0¢ Sentiment: Buy Disclosure: Not Held