Replidyne Inc announced today that it has discontinued enrolment in a placebo-controlled phase III clinical trial testing faropenem medoxomil (faropenem) in patients with acute exacerbation of chronic bronchitis (AECB).
Replidyne took this action to conserve its cash assets and support initiatives that include pursuing strategic transactions and maintaining its research programs.
The AECB study is one in a package of four clinical trials, including two in community-acquired pneumonia and one in acute bacterial sinusitis, recommended as a way forward by the US Food and Drug Administration for a new drug application submission for faropenem to treat these three adult community respiratory tract infections.
Replidyne has not initiated the other three trials, and consistent with prior guidance, further faropenem development will depend on Replidyne securing a partner for the programme.
“In the interest of conserving our financial position, we have made a difficult decision to discontinue enrolment in this faropenem trial,” said Kenneth J Collins, Replidyne’s President and CEO.
“This decision reflects our sense of urgency and the belief that in today’s environment available cash assets broaden the scope of potential partnering and strategic options.”
As of 31 March 2008 Replidyne had cash assets of approximately $78 million.