New members for Neurotune's Board of Directors
The shareholders of Neurotune AG have elected Dr. Anders Härfstrand and Heinrich Rotach as new members of the board of directors at their annual general assembly on April 21, 2010. Anders Härfstrand is a medical doctor with extensive experience in neuropharmacology and an excellent track record as executive director in the pharmaceutical industry (e.g. Pharmacia, Pfizer, Serono). Heinrich Rotach has extensive experience in the financial industry (e.g. UBS). Neurotune will strongly profit from their knowhow and their standing in the biotech industry and is highly pleased to have them on board.
In March, Neurotune AG has also expanded its capital base by closing a capital raise with its current investors, among them Neurotune´s major shareholder CC Private Equity Partners, as well as additional private investors. This will allow Neurotune to further advance its portfolio in pain and sarcopenia. To this end, the lead compound of Neurotune, NT-11624, is currently in clinical phase IIa in South Africa for antiretroviral treatment-induced pain in AIDS patients. In January 2010, Neurotune had completed recruitment of more than 100 patients. The trial was finished in March 2010. The extraordinarily low drop out rate of 4% clearly indicates that NT-11624 is well tolerated as predicted from previous phase I data. Currently the clinical data of the phase IIa are under statistical analysis with the top line results expected middle of 2010. Furthermore, compassionate use has been requested and granted by the South African regulatory authorities.
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