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news.Forbes Medi-Tech is planning to initiate a US phase II trial of its cholesterol-lowering drug, FM-VP4, later this month, after the FDA gave its approval for the trial to go ahead.
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FM-VP4 is a cholesterol absorption inhibitor, a new class in cholesterol-lowering drugs. FM-VP4 has demonstrated significant cholesterol-lowering and anti-atherosclerotic properties in pre-clinical studies.
The cardiovascular market represents a significant opportunity as industry-wide sales of cardiovascular pharmaceuticals are estimated to grow to over $40 billion by 2011.
“This is a major milestone for the company and further supports our commitment to the development of FM-VP4 and its potential as a cholesterol absorption inhibitor,” said Charles Butt, president and CEO of Forbes Medi-Tech Inc. “I look forward to the initiation of this key clinical trial in FM-VP4’s pharmaceutical development path.”