DIABETES STUDY ADVANCES TO PHASE I CLINICAL TRIAL

OSI Pharmaceuticals has initiated a Phase I clinical study of PSN357. PSN357 is a glycogen phosphorylase inhibitor, which is designed to rapidly lower blood glucose levels by preventing glycogen breakdown to glucose in the liver. PSN357 is the first clinical candidate to emerge from OSI's discovery research efforts in diabetes.

This single-center, open-label Phase I study is scheduled to enroll up to 112 healthy volunteers. The study is a combined single and multiple dose escalation program, which is designed to determine the safety and tolerability of PSN357. Study results will assist in facilitating the design of a Phase II "proof-of-concept" clinical program in diabetes patients. The study is expected to last approximately three to six months.