The phase III study of NXY-059 failed to meet the study goal and did not improve stroke related disability.
Additionally treatment with NXY-059 did not result in a statistically significant improvement in neurological status versus placebo. There was also no evidence of NXY-059 lowering the incidence of intracranial hemorrhage.
The drug was licensed to AstraZeneca by biotechnology firm Renovis. Renovis said it would continue to review the data despite the disappointing results.
NXY-059 is part of class of neurological drugs that are often inconsistent and fail to work. AstraZeneca commented that the class of neuroprotectant drugs did not have enough potential for the company to conduct further research.
“We have managed our resources carefully so that Renovis is in a strong financial position to continue our unpartnered drug discovery programs targeting major medical needs in inflammatory and neurological diseases,” commented Corey Goodman, president and CEO of Renovis.
Renovis has partnerships with Pfizer and Genentech. Renovis said it expects a compound from its collaboration with Pfizer to enter the clinic in 2007.