Oxford Pharmascience completes next step in Safestat programme

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."

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