Bone Medical ends BN006 involvement

THE ROADHOUSE PHARMACY: Bone Medical (ASX: BNE) has received a from Proxima Concepts, the inventor and patent holder of BN006, with results of current studies which investigated BN006’s ability to achieve advantageous therapeutic effects across a broader dose range in comparison with market-leading treatments.

According to Bone Medical the studies were carried out in an animal rheumatoid arthritis disease model and have extended the understanding of BN006’s dose-response curve from partial results obtained in 2013.

However, on only one of the important measures of efficacy – the ability to reduce inflammatory response – and at only one of the BN006 dosage strengths tested, did BN006 appear to be close in its effects to the market leaders.

The company explained that a number of other BN006 product parameters remain unclear following completion of the experimental evaluation budgeted under its January 2014 recapitalisation plan.

Further data on the ability to administer the product orally indicates that this cannot be accomplished without more extensive formulation work than last year’s initial results indicated.

BN006’s underlying mechanism of action also remains undetermined following inconclusive lab work that was carried-out earlier this year by Bone Medical and the William Harvey Research Institute.

“The company has concluded that BN006’s profile has not been sufficiently advanced by these new results to justify continuing development,” Bone Medical said in its ASX announcement.

“Following the termination of the Licence and Research Agreements with the Proxima Group, Bone Medical will focus on identifying new technology opportunities both in Health Science and other sectors with the objective of increasing shareholder value.”

Email: query@bone-ltd.com

Website: www.bone-ltd.com