[Stockholm, Sweden, August 13, 2009.] Swedish drug development company OxyPharma has fully enrolled and completed all follow-up visits for all patients in its phase II clinical trial of Rabeximod. Rabeximod is an orally administered compound for treatment of moderate or severe active Rheumatoid Arthritis (RA).

The phase II clinical trial of Rabeximod has been conducted on approximately 220 patients in 30 clinical sites in Europe. The data will now be analyzed and the preliminary results of this study are expected to be announced at BioPartnering Europe in London, 12 - 13 October 2009 (see http://www.techvision.com/bpe/).

"We are very excited to see the last of our patients complete the treatment and that we soon will see the results of this study. Rabeximod is a new compound with a different mode of action with the potential to further improve the outcome for people with RA", said Ulf Björklund, CEO of OxyPharma.

Estimates of the value of the global Rheumatoid Arthritis (RA) market vary between USD 4 billion and USD 11 billion annually. The market growth is significant.

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