LONDON, July 16 (Reuters) - Vernalis (VER.L) has stopped development of a drug for Parkinson's disease that represented one of its main pipeline hopes, due to worries over adverse side effects, sending its shares 12 percent lower on Friday.
The British biotech group said it and its partner Biogen Idec (BIIB.O) had decided to discontinue work on vipadenant, also known as V2006/BIIB014, following a review of preclinical toxicology studies.
The news is the second pipeline setback for Vernalis in months, following the failure of another experimental medicine known as V3381 for diabetes-related neuropathic pain in March. [ID:nLDE62N0FG]
The decision on vipadenant is a significant blow, since the drug had produced positive results in mid-stage Phase II clinical studies and investors had been hoping Biogen would decide to take it into final Phase III trials in 2011.
Instead, Vernalis and Biogen will progress a next-generation compound into Phase I clinical studies in early 2011, pushing back the Parkinson's programme by at least two to three years, according Piper Jaffray analyst Sam Fazeli.
Saturday, July 17, 2010
UPDATE 2-Toxicology sinks Vernalis, Biogen Parkinson's drug | Reuters
via uk.reuters.com
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