Solvay's SLV 319 obesity candidate treatment advances in phase II clinical trials
Triggering a milestone payment from co-development and co-commercialization partner Bristol-Myers Squibb
Solvay announced that a phase IIB study has started following a decision of the joint development committee for SLV319, which moved this obesity treatment candidate into further phase II clinical trials.
SLV319 belongs to a novel class of agents called CB1 antagonists, which work by blocking the cannabinoid type 1 receptor. Clinical and preclinical studies involving this class of drug have shown that blocking the cannabinoid type 1 (CB1) receptor results in reduced food intake.
This move has triggered a milestone payment of USD 25 million from partner Bristol-Myers Squibb Company, which will be booked into the fourth quarter 2006 figures. This payment coincides with an overall increase in R&D and marketing costs for Solvay Pharmaceuticals of a similar amount.
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