Astrum Therapeutics to begin clinical trials on Type 2 diabetes compounds

Brisbane biotech BioProspect (ASX:BPO) has hit heavy cloud in its attempts to secure international partners to commercialise its novel plant-derived pesticides, but feels the sun is beginning to shine on its investment in Astrum Therapeutics.

BioProspect bought a one-third stake in Astrum on April 1, and the Melbourne drug-developer has announced it is moving to synthesise sufficient quantities of its two candidate compounds for treating Type 2 (non-insulin dependent) diabetes for clinical trials.

Astrum will begin recruiting volunteers for the trials by the end of the year -- it has not revealed the molecular targets for the molecules, but said they prevent the death of insulin-secreting pancreatic islet cells.

The company has also completed patent applications for combination therapies of its compounds, targeting the three major metabolic problems associated with type 2 diabetes -- cardiovascular disease, inflammation and neurological complications.