Metabolic to spend $2.1m grant on clinical trials

By Melissa Trudinger
Wednesday, 06 August, 2003

Metabolic Pharmaceuticals (ASX:MBP) has been granted an R&D Start grant of up to AUD$2.1 million to conduct its Phase IIb clinical trial for its obesity drug AOD9604.

According to CEO Chris Belyea, the grant will deliver welcome support to the trial and would leave the company in a strong financial position at the end of the trial.

It's the first grant of its kind received by the company, Belyea said. He noted that the grant would support trial expenses in Australia rather than overseas costs associated with the trial.

Metabolic's three-month trial is to be carried out in 300 patients at five Australian hospitals. Screening of patients is expected to begin in September, and the first patients will begin taking the drug in October, Belyea said.

Content from other channels on our network

From raw to rare sugar: low-cal sweetener under development

Upcycling cauliflower waste into protein ingredients for future food

Keeping pace with changing appetites

Maize miller reaps the benefit of gravity metal detectors

The potential of AI technologies across the food supply chain

Customer demand exceeding capacity for Alpha HPA

Curtin University project to research sustainable gallium processing

How to extend the life of your motor bearings

Mars Petcare Wodonga expansion boosts manufacturing output

From Dark Age to Imperial: what Age of Empires teaches us about instrumentation

BESS project provides long-duration battery for NSW

Lessons in long-distance telemetry

GECA and ACOR launch national standard for recycling

Antibiotics in wastewater may contribute to antimicrobial resistance

Top super funds lacking investment in renewable energy

Metabolic to spend $2.1m grant on clinical trials

AusBiotech partners with Tenmile

Australian CDC issues update in wake of Ebola outbreak

Australia announces $7.2m diphtheria outbreak response package

Content from other channels on our network