Proximagen Group PLC
11 May 2012
11 May 2012
Proximagen Group plc
("Proximagen" or the "Company")
REPLACEMENT: Proximagen notes positive vote from FDA advisory committee in respect of
Arena's 5-HT2c agonist lorcaserin
London, UK, 11 May 2012 - Proximagen Group plc (AIM: PRX), the rapidly growing company with a focus on the treatment of disorders of the central nervous system and inflammatory diseases, welcomes yesterday's announcement by Arena Pharmaceuticals, Inc. that the US Food and Drug Administration ("the FDA") Endocrinologic and Metabolic Drugs Advisory Committee had voted in favour of the available data demonstrating that the potential benefits of lorcaserin outweigh the potential risks when used long-term in a population of overweight and obese individuals. The committee voted 18-4 in favour of lorcaserin.
Lorcaserin is a 5-HT2c agonist being developed by Arena Pharmaceuticals, Inc. It is intended for weight management, including weight loss and maintenance of weight loss, in patients who are obese or overweight and have at least one weight-related co-morbid condition.
Proximagen owns the worldwide rights to PRX00933, an oral 5-HT2c agonist for treating obesity. In Phase II trials, PRX00933 showed a dose-dependent and statistically significant decrease in body weight that falls within FDA guidelines for this condition. PRX00933 has been shown to be safe and well tolerated and has been administered to approximately 400 patients.
The Company will continue to evaluate the commercial opportunities that PRX00933 presents, whilst awaiting the final decision of the FDA on lorcaserin which is due next month.
Proximagen Group plc Tel: +44 (0)20 7400 7700
Kenneth Mulvany, Chief Executive
James Hunter, Finance Director
Singer Capital Markets (Nominated Tel: +44 (0)20 3205 7500
Shaun Dobson/Claes Spang
M:Communications (Media enquiries) Tel: +44 (0)20 7920 2330
Mary-Jane Elliott / Sarah Macleod email@example.com
/ Hollie Vile
Proximagen Group plc (AIM:PRX) is a European biotechnology company
focused on the development and commercialisation of novel therapeutics
for diseases of the central nervous system (CNS) and inflammation.
The Company is developing potential new best-in-class therapeutics
in its core disease areas including epilepsy, Parkinson's disease,
and Alzheimer's disease, as well as in other areas such as inflammation,
oncology and neuropathic pain.
Proximagen has a number of existing partnerships with pharmaceutical
companies including GlaxoSmithKline, Upsher-Smith and Lundbeck,
and is developing a broad pipeline of drug candidate programmes,
with four programmes in clinical development and more than ten
earlier stage assets being progressed.
Proximagen's strategy is to advance its pipeline with its partners
and to acquire innovative drug candidates that complement its
pipeline, with the objective of scaling up its risk-mitigated
operating model and generating sustainable profits.
For more information, please visit www.proximagen.com.
This information is provided by RNS
The company news service from the London Stock Exchange