[Stockholm, Sweden, June 1, 2009.] Swedish drug development company OxyPharma has received approvals in both the USA and in Russia for a patent that covers Rabeximod, the company’s drug for the treatment of Rheumatoid Arthritis (RA) which is currently undergoing Phase II clinical studies.

The United States Patent And Trademark Office approved OxyPharma’s patent application for alkyl substituted indoloquinoxalines on May 8, 2009. The patent covers a group of molecules in which the RA drug Rabeximod is a part. Rabeximod is currently in a Phase II clinical study which is expected to be completed later this year.

The Russian patent office has also approved OxyPharma’s patent application for the same group of molecules, and also covering Rabeximod. This was done on April 24, 2009.

The Phase II clinical trial of Rabeximod is a randomized, four armed, double-blind, placebo-controlled study evaluating the efficiacy of Rabeximod which is currently being conducted in 30 clinical sites in Europe. Principal Investigator is Prof. Lars Klareskog, Head of Rheumatology Unit at Karolinska Hospital, Stockholm, Sweden.

About Rabeximod:

Rabeximod is a first-in-class molecule and classified as a disease-modifying antirheumatic drug (DMARD). The mechanism for the effect is an interaction with the inflammatory tissue type A cells, often described as macrophages. In vitro data on human peripheral blood cells shows that Rabeximod suppresses the differentiation of monocytes into pro-inflammatory macrophages but not anti-inflammatory macrophages. The inflammatory macrophage is the central orchestrator of the inflammatory response leading to tissue destruction and clinical symptoms. Thus, the macrophages is a key cell in immune presentation of antigens and plays a role in both the initiating phase of the inflammation as well as in perpetuating the inflammatory process.

About OxyPharma:

OxyPharma is a Swedish drug development company developing new drugs primarily for the treatment of Rheumatoid Arthritis (RA) and Multiple Sclerosis (MS). The development programs are carried out in collaboration with the Karolinska Institute in Stockholm, Sweden and contract research organizations (CRO’s) in England, Sweden and Israel.

OxyPharma was founded in 2002 and is based in Stockholm, Sweden. The company’s largest shareholder is innovator and entrepreneur Leif Lundblad (mainly through his investment company LLD Nybohov Invest). Ulf Björklund is OxyPharma’s CEO.

For additional information please contact:

 

Ulf Björklund

CEO, OxyPharma AB              

Phone: +46 8 726 17 02 or +46 70 667 04 40            
Email: ulf.bjorklund@oxypharma.com         

 

or

Peter Karaszi

Press Officer, OxyPharma AB              

Phone: +46 70 341 46 53     
Email: peter.karaszi@oxypharma.com         

Also see our web site: www.oxypharma.com

 

OxyPharma is a member of SwedenBIO. For more information about Swedish biotech, please visit www.swedenbio.com