phase i clinical collaboration agreement

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.