Japanese firms suffer heavy setback after weak Phase IIb data
Shares in Japan’s SanBio (TYO: 4592) are down a quarter after the firm announced that a US-based Phase IIb study of the investigational cell and gene therapy candidate SB623 has flopped.
Fellow Japanese firm Sumitomo Dainippon (TYO: 4506), which has been collaborating on development of the treatment, saw a near-20% drop in its share price to 3,065 yen..
The firms have been developing SB623 as a treatment for chronic motor deficits due to ischemic stroke. The candidate is based on allogeneic mesenchymal stem cells (MSCs), which are prepared by processing and cultivating bone marrow cells.
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