Access Pharmaceuticals (OTCBB: ACCP), announced that it has entered into an agreement with "a major global pharmaceutical company" to test their oral insulin formulation based upon its proprietary vitamin B-12-based CobOral™ Drug Delivery Technology. Although they couldn't name the company "for competitive reasons" this morning , the company is believed to be one of the biggest players in the insulin space.
Access says it intends to provide their CobOral™ insulin product to the pharmaceutical company and they anticipate completion and delivery of the formulation to the pharmaceutical company by the end of the month.
It will be interesting to see how the market digests this news. Sources at the company clearly see this as "a big announcement for Access." The company has reportedly gotten so much interest in their CobOral™ and CobaCyte™ delivery platforms from large pharma that representatives seem certain that many more collaborations are ahead. In November, at the Innovations in Cancer Prevention and Research Conference in Austin, TX, the company had presented a poster, entitled "Vitamin B-12 Nanoparticles for the Targeted Delivery of RNAi Therapeutics", summarizing key findings of the Company's rebranded Cobalamin program, CobaCyte for RNAi.
According to details issued in a press release, Access’ CobOral product development program initially focused on the oral delivery of insulin and human growth hormone (hGH), two peptides which currently can only be given by injection. Since presenting promising results in mid-2008, Access has made substantial improvements to the formulation technology. An improved CobOral insulin-containing nanoparticle formulation delivered orally provided a pharmacological response (lowering of blood glucose levels in an animal model of diabetes) equivalent to greater than 80% of that achieved by insulin delivered subcutaneously. This represents a substantial oral bioavailability, indicating that this formulation has potential for clinical development and ultimate commercialization. Adaptation of this technology has provided a CobOral hGH formulation that has demonstrated good efficacy, represented by more than 25% improvement in weight gain, when given orally in an established animal model.
"Oral drug delivery is increasingly a priority at Access," Jeffrey B. Davis, Chief Executive Officer of ACCP told BioMedReports. "It has garnered a great deal of interest from big name players in insulin and the metabolic space. We believe signing this agreement for our CobOral Insulin represents a critical inflection point in the potential future of our drug delivery technology platform. To be able to display unprecedented levels of bioavailability in insulin remains a highly sought after goal and we believe Access has the right technology to revive the mission."
On the MuGard front, Davis told BioMedReports that the company continues to make great progress. "Initial clinician and patient feedback has been extremely positive." New videotaped testimony (at http://www.MuGard.com/testimonials) is said to be representative of patient feedback.
"Oral mucositis is such a horrible condition, and MuGard seems to be offering significant clinical benefit both in preventative and curative settings," explained Davis.
In early October, we told readers that ACCP's stock was behaving bullishly. Shares have risen since that time and have been trading above their 52 week price range low of $1.70. Prices began to rise in late September after the company announced that they had received their initial purchase order for MuGard in North America and launched their MuGard Product Website.
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