SkyePharma seeks funding partner for diabetes product candidate

Having completed an initial proof-of-concept study for its diabetes care product candidate, SKP-1052, UK drug delivery specialist SkyePharma (LSE: SKP) says that it is now looking for a partner to fund further development from Phase I trials through to approval and, subject to regulatory authorization, to market the product.

SKP-1052 is targeted at the growing multi-billion dollar market for diabetes management. It applies SkyePharma’s proprietary and patented oral Geoclock technology to improve the delivery of an existing marketed active pharmaceutical ingredient, with the potential to create an innovative treatment option for an important unmet medical need.

David Owens, Clinical Professor at the Centre for Endocrinology and Diabetes Sciences at Cardiff University, quoted by the company, said: “The preliminary study of SKP-1052 has provided encouraging results for a product which would address an unmet medical need in the management of persons with insulin-treated diabetes.”