PolyMedix discontinues development of PMX-60056

PolyMedix Inc. (OTCBB:PYMX) discontinued development of PMX-60056 and stopped enrollment in a pair of clinical trials after reports of reductions in blood pressure associated with the compound. PMX-60056 was in a Phase II trial for reversing the anticoagulant activity of unfractionated heparin in patients undergoing percutaneous coronary intervention (PCI) and a Phase Ib/II trial for reversing the anticoagulant activity of enoxaparin in healthy volunteers.

PolyMedix did say that PMX-60056 showed activity in neutralizing both unfractionated heparin and enoxaparin as measured by activated clotting time (ACT) and anti- Factor Xa activity, respectively. The company said it believes that the side effects could be addressed by delivering PMX-60056 in a larger volume over a longer infusion time. However, PolyMedix plans to seek strategic partnerships to further develop the PMX-60056 program due to its "limited resources and current capital market conditions." The product is a heparin antagonist that binds to the pentasaccharide region on heparin and low molecular weight heparins (LMWHs). ...