Concert Pharma gets $8 million in milestone after Phase I trial for drug to treat inflammatory diseases and cancer
Concert Pharmaceuticals (Nasdaq: CNCE) on Thursday said it has received $8 million in milestone payments from US biotech company Celgene Corp (Nasdaq: CELG) following the completion of early stage trial of the drug candidate to treat for inflammatory diseases and cancer.
Roger Tung, chief executive of Concert Pharmaceuticals, said: ““We are encouraged by the favorable pharmacokinetic profile of CTP-730 observed in our Phase I clinical trials. We believe that selective incorporation of deuterium in apremilast has resulted in a potential next generation anti-inflammatory agent.”
The Phase I program included both single and multiple ascending dose trials. The Phase I clinical trials assessed the safety, tolerability and pharmacokinetics of CTP-730 in 85 healthy subjects. Treatment with CTP-730 was generally well tolerated and no serious adverse events were observed. The most common adverse events were similar to those already identified for apremilast.
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