Oxford Pharmascience, a speciality pharmaceutical company, has successfully completed the formulation development for its Safestat drugs, Atorvastatin and Simvastatin.
The developments continue the company's Safestat programme, which aims to re-formulate the widely used molecules of atorvastatin and simvastatin into doses up to four times lower than the original dose, but with the same lipid-lowering properties as the original higher dose.
Marcelo Bravo, Chief Technology Officer of Oxford Pharmascience said: "Completion of formulation development is a first important milestone in the Safestat programme and we are now ready to proceed to manufacture of GMP products for use in proof of concept clinical trials during 2013."
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
The company said it has now developed and optimised formulations of both atorvastatin and simvastatin and proven in-vitro release under simulated human conditions.
The share price rose 29.91% to 3.48p by 14:10.
NR
-
Going part-time could leave a £58,000 hole in your pension: how to plug the gapThere are many reasons for switching to part-time work, but some savers don’t consider the impact on their pension until it is too late
-
Three bargain investment trusts to add to your portfolioThese three investment trusts are bargains compared to their net asset value (NAV), but one fund analyst thinks the deep discounts are unwarranted.
