Indian Drugmaker Orchid in Licensing Talks for Diabetes Compound

Medium-sized Indian drugmaker Orchid claims to have begun talks with multinational firms on licensing its new molecule for diabetes, known as BLX-1002. The compound has been developed by the company's 75%-owned US discovery joint venture, Bexel Pharmaceuticals, where it is in Phase IIa clinical trials.

Orchid claims that BLX-1002, which is described as a novel orally-administered PPAR agonist, does not reduce levels of key liver enzymes such as AST and ALT, unlike comparable therapies. European Phase 1(b) clinical trials in early 2004 at dosages up to 200mg also indicated no adverse reactions in healthy volunteers, and US trials on diabetic patients will now proceed. Meanwhile, the company claims it has scheduled a TNF alpha blocker and an oncology molecule for early-stage trials in the next 12 months.