ConjuChem halts DAC:GLP-1 development

ConjuChem (TSE:CJC) fell C$1.04 (57%) to C$0.78 on Friday on news that it will put on hold further development of DAC:GLP-1, pending completion of a Phase I study of PC-DAC:Exendin-4 in the first half of 2006. The company said that preclinical studies of D23, a diluent used in DAC:GLP-1, did not show sufficient safety margins for chronic use. Also, while D23 improved the tolerability profile of DAC:GLP-1, the pharmacokinetics and pharmacodynamic profile in a Phase I study did not lend itself to once-weekly dosing. CJC's DAC:GLP-1, a glucagon like peptide-1 (GLP-1) receptor agonist, has completed a Phase II trial to treat Type II diabetes. ...