Osteologix completes enrolment for its first Phase I clinical trial  

2005.07.22
Copenhagen headquartered Osteologix has completed patient enrolment for its first Phase I clinical trial of the compound NBS-101 for the treatment of osteoporosis

Osteologix, a Copenhagen headquartered biotech company, has completed patient enrolment for its first Phase I clinical trial of the compound NBS-101 for the treatment of osteoporosis. Christian Hansen, partner of Nordic Biotech, a venture company and the main shareholder of Osteologix, has a strong belief in NBS-101: "Our compound has 95% chance of completing development. Normally a compound in Phase I trials has a 10% chance of becoming a drug", he says.

NBS-101 is an improved formulation of strontium which was recently approved in Europe in the form of strontium ranelate. In 2004, total sales of products in the US to treat osteoporosis were DKK 33 bn (USD 5.4 bn), while worldwide sales were estimated at DKK 74 bn (USD 12 bn). The clinical trial was initiated 27 May, 2005 and is being conducted at Hvidovre Hospital, Copenhagen.

Osteologix was formed in 2003 and has been solely financed by Nordic Biotech, a venture capital firm headquartered in Copenhagen. In October 2004, the company expanded into the US and appointed Charles J. Casamento to CEO and President. Osteologix has offices and operations in San Francisco, California and Copenhagen. The news is reported by financial daily newspaper Børsen and on the Osteologix website.

Link > Osteologix 

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