Osteologix, Inc. Continues Development of NB S101 for Osteoporosis
RICHMOND, Va.–(Business Wire)–
Osteologix, Inc. (OTCBB:OLGX), a bio-pharmaceutical company announced today that
the company will continue the clinical development for its osteoporosis drug, NB
S101 (strontium malonate), in the United States and the rest of the world
markets. Additionally, the company wants to recognize World Osteoporosis Day`s
significance and make more people aware of its research dedicated to improving
the lives of people with osteoporosis.
“We believe that NB S101 will bring a safe and effective new alternative therapy
for the millions of patients with osteoporosis. Our product can be manufactured
and commercialized in a way that should also appeal to the cost conscious
patients, physicians and payers,” said Philip J. Young, CEO of Osteologix. “In
addition, our recently expanded global patent estate will allow our shareholders
a long window of opportunity to realize returns on their investments.”
Different from other drug therapies available in the U.S., NB S101 is a dual
acting bone agent (DABA), designed to benefit patients by strengthening the bone
in two ways. Unlike the aggressive actions of other therapies, which can
sometimes lead to brittle bones after several years of therapy, strontium is a
moderate anti resorptive drug that also works to enhance bone mineralization
giving the patients stronger, more fracture-resistant bones. Another key
advantage researchers note is that strontium therapy is an excellent choice for
the significant number of women who cannot take or tolerate bisphosphonate
treatment, (the largest class of drugs currently used to treat osteoporosis).
Currently, there is one prescription strontium therapy widely used in Europe and
other parts of the world, Protelos (strontium ranelate), which is marketed by a
French pharmaceutical company. Protelos has been prescribed for five years and
has demonstrated excellent efficacy and safety in patients of all ages. It is
unavailable in the U.S. Strontium therapy with NB S101 should be preferred over
the French product. First, NB S101 is a tablet, not a powder that needs to be
suspended in water, which Osteologix believes will aid in compliance, as it is
easier for patients to take. Second, studies conducted by the company have
demonstrated that NB S101 has better bioavailability — meaning the patients can
take a lower dose of the active element, strontium, and obtain the same blood
level. Osteologix believes that its drug will provide fracture reduction and
safety on par with or better than the French product.
Osteologix has already conducted two human studies in hundreds of subjects with
NB S101 (strontium malonate) and is in the planning stages of further clinical
development that will be conducted here, in the U.S., and around the world.
About Osteoporosis
Osteoporosis is the most common bone disease in humans and, according to the
National Osteoporosis Foundation (NOF), 10 million Americans are estimated to
have the disease and almost 34 million more are estimated to have osteopenia or
low bone mass, placing them at increased risk for osteoporosis. The most severe
consequence of osteoporosis is skeletal fracture. Osteoporosis is responsible
for more than 1.5 million fractures annually and direct expenditures for hip
fractures are estimated to cost society more than $18 billion annually.
According to NOF, one in two women and one in four men over age 50 can be
expected to have an osteoporosis-related fracture at some time.
About Osteologix
Osteologix is a specialty pharmaceutical company committed to developing
innovative therapies for the treatment and prevention of musculoskeletal
diseases. The Company`s vision is to improve the health of those afflicted with
musculoskeletal diseases such as osteoporosis. Its lead product candidate, NB
S101, is a novel pharmaceutical agent for the treatment and prevention of
osteoporosis. For more information please visit www.osteologix.com.
Forward Looking Statements
Certain of the statements set forth in this press release constitute “Forward
looking statements” within the meaning of the Private Securities Litigation
Reform Act of 1995. Forward-looking statements include, without limitation, any
statement that may predict, forecast, indicate, or imply future results,
performance or achievements, and may contain the words “anticipate,” “believe,”
“estimate,” “expect,” “forecast,” “intend,” “may” “project,” “plan,” “will,”
“should,” “could,” “would,” or words or expressions of similar meaning. All such
forward looking statements involve risks and uncertainties, including, but not
limited to: statements regarding Osteologix’s research and development programs;
proposed marketing and sales; patents and regulatory approvals; the effect of
competition and proprietary rights of third parties; the need for and
availability of additional financing and access to capital; and the seeking of
joint development, licensing or distribution and collaboration and marketing
arrangements with pharmaceutical companies. There can be no assurance that such
forward-looking statements will prove to be accurate and Osteologix undertakes
no obligation to update any forward-looking statements or to announce revisions
to any of the forward-looking statements.
Media Contact:
Point of View PR
Jody LoMenzo, 804-272-1031
or
Investor Relations Contact:
Osteologix, Inc.
Baxter Phillips, III, 804-747-6026
Copyright Business Wire 2009
