Vitae-Boehringer diabetes drug fails as add-on therapy in trial
Vitae Pharmaceuticals Inc said its drug to treat type 2 diabetes in overweight patients did not meet its main goal in a mid-stage study testing it as an add-on therapy.
The drug, being co-developed with German drugmaker Boehringer Ingelheim, was tested as an add-on therapy to metformin, a commonly prescribed diabetes drug.
The blood sugar levels of patients taking the drug as an add-on therapy did not reduce significantly, Vitae said in a statement on Monday.
Results from another trial testing the drug as a mono-therapy are expected later this year. Boehringer Ingelheim wikk review data from both trials to decide the next steps for the drug.
According to Vitae, about 85 percent of type 2 diabetes patients are affected by metabolic syndrome, which causes weight gain and is associated with cardiovascular disease.
The American Diabetes Association estimates that as many as 1 in 3 American adults will have type 2 diabetes by 2050.
The failure of the diabetes drug is the second blow to Vitae this year after trails for its Alzheimer’s drug were placed on hold in February.
Still, through Friday’s close of $15.19, Vitae’s shares have almost doubled since the company went public in September.
(Reporting by Amrutha Penumudi in Bengaluru; Editing by Savio D’Souza)