Plethora's losses cut after Timm Medical buy

UK specialty drugmaker Plethora Solutions reports that its losses for the six months ended June 30 were L2.0 million ($3.8 million), down 38% on the comparable period in 2005. The firm explained that the loss reduction was driven by the introduction of revenues, L2.4 million in the period, derived from the USA's Timm Medical, which it purchased in February this year.

Plethora also said that data from a Phase II trial of its lead developmental candidate, PSD502, a metered-dose aerosol for the treatment of premature ejaculation, has been received by the US Food and Drug Administration. The firm added that the FDA has accepted the outline of a Phase III clinical assessment, which the company intends to initiate when it has secured a development and marketing partner.

The company also cited the following as highlights during the period: the initiation of a Phase II trial of PSD503, its treatment for stress urinary incontinence; the purchase of rights to an oral muscarinic selective receptor antagonist, PSD506, for the treatment of overactive bladder from Swiss drug major Roche; the continuing development of PSD597 as a treatment for both interstitial cystitis and chronic pelvic pain; and the acquisition and of rights to, and ongoing development of, two of fellow UK-based Metris Therapeuctics' drug candidates for the treatment of endometriosis and dysmenorrhea.