Genaera endocrine, inflammation news
Genaera will restructure and reduce headcount by 80% to reduce cash burn, explore strategic alternatives and pursue business development strategies for its lead trodusquemine ( MSI-1436). The small molecule inhibitor of protein tyrosine phosphatase 1B (PTP1B, PTPN1) is in Phase I testing for obesity and diabetes.
The company also will seek to monetize its MEDI-528, a mAb against interleukin-9 (IL-9) in Phase II testing to treat asthma, and pexiganan, a topical small peptide anti-infective in Phase III testing to treat diabetic foot ulcers. Partner MedImmune Inc., a subsidiary of AstraZeneca plc (LSE:AZN; NYSE:AZN, London, U.K.) is developing MEDI-528, and MacroChem Corp. (OTCBB:MACM, Wellesley Hills, Mass.), which is merging with Access Pharmaceuticals Inc. (OTCBB:ACCP, Dallas, Texas), has an exclusive, worldwide license from Genaera to pexiganan. ...