Forbes Medi-Tech starts phase II trial for cholesterol drug FM-VP4

By Jennifer Chiou

New York, Nov. 2 - Forbes Medi-Tech Inc. said it initiated a phase II trial for cholesterol-lowering drug FM-VP4.

The 150-subject, double-blind, placebo-controlled study, which is taking place at 15 U.S. sites, is aimed at determining the effect on low density lipoprotein-cholesterol of two doses of FM-VP4 - at 450 mg and 900 mg - given for 12 weeks.

"This trial marks an important step in the advancement toward a prescription therapeutic for cholesterol reduction," president and chief executive officer Charles Butt said in a news release.

"The success of the cholesterol absorption inhibitor market, representing over $2.5 billion in sales since 2003, emphasizes the importance of this trial and its outcome."

The company said it expects to complete the study in the third quarter of 2006.

Forbes Medi-Tech said FM-VP4, a cholesterol absorption inhibitor, may have an application as a combination therapy with statins. According to a 2003 Datamonitor report, the statin combination market is expected to grow at a compound annual rate of 44%, reaching $4.7 billion by 2011.

Forbes Medi-Tech is a Vancouver, B.C., life sciences company focused on cardiovascular disease.

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