Pharmaceuticals group BTG says Varisolve, a new treatment for varicose veins, has been successful in VANISH-1, the second and final phase III trial in the US.
The microfoam, Varisolve, aims to treat the not-easy-to-pronounce "saphenofemoral junction incompetence" which can lead to varicose symptoms.
The success of the VANISH-1 trial follows the positive outcome from VANISH-2, the first pivotal Phase III trial, the results of which were announced at the end of January.
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
Investigator Dr Ted King, the National Medical Director of Vein Clinics of America, said: "VANISH-1 and VANISH-2 are extremely rigorous trials that have both shown clear benefits ... in patients with symptomatic varicose veins, as assessed by the patients and their treating physicians and in a randomised, controlled manner."
Based on the successful outcome of these two pivotal Phase III trials, BTG intends to submit a New Drug Application this year in the US, seeking approval of Varisolve (polidocanol endovenous microfoam, or PEM) as a comprehensive treatment for symptoms and appearance of varicose veins.
The market wasn't terribly impressed, at 08:11 the stock had fallen 0.5% although since the start of the year the shares have gained 22%.
BS
-
Cash in on the growth prospects of Europe's companiesOpinion Marcel Stötzel, co-portfolio manager of the Fidelity European Trust, selects three stocks
-
Is the AI boom another dotcom bubble?25 years on from the dotcom bubble bursting, is it time for investors to consider the sustainability of the AI boom in the stock market?
