Phosphagenics plans pain patch trial in Feb

Phosphagenics (ASX:POH) will next month commence a phase I trial of an oxymorphone transdermal patch using its TPM technology.

The company will conduct the study at the Royal Adelaide Hospital in early February, and expects results as early as March.

The patch design is based on the company's TPM-Oxycodone pain patch, which is under concurrent development.

It uses Phospagenics' Targeted Penetration Matrix (TPM) drug delivery technology to provide sustained-released doses of oxymorphone over 72 hours.

Announcing the trial, Phosphagenics said the US market for oxymorphone has exploded since the FDA approved the drug in an extended release oral formulation in 2006. Oxymorphone generated revenues of over $600 million in 2012.

Phospagenics first revealed that it was working on the oxymorphone patch in December.

CEO Esra Ogru said the company managed to take the oxymorphone patch from concept to clinic in just six months.

"We will build on the momentum generated by our development team in getting oxymorphone to the clinic so quickly [by] aggressively pursuing the clinical development program and the possibility of an early licensing deal," Ogru said.

She said pain patches using oxycodone and oxymorphone should together be "appropriate for tackling all levels of pain indications from opioid naïve to opioid experienced patients."

Phosphagenics (ASX:POH) shares were trading up half a cent at 14.5c as of 3:00pm on Wednesday.