Yesterday, AtheroNova Inc. (AHRO-OTC) announced a major milestone in the Company's progression to Phase I clinical trials. AtheroNova has now shipped Phase I supplies of AHRO-001, the Company's lead drug candidate fighting atherosclerotic plaque, to CardioNova, the Company's Russian licensing partner. This shipment was the last major step to commencing human trials, and indicates that AtheroNova is on track to start patient screenings and first-in-man dosing in June 2013.
Previously, in late January 2013, AtheroNova’s CEO, Thomas W. Gardner, had detailed the Company’s development for investors, noting that AtheroNova expected to initiate and complete a Phase I trial for AHRO-001 in Russia by the third quarter 2013. The Company’s partner, CardioNova, has already filed an Investigational New Drug (IND) application for AHRO-001 with Russia’s Ministry of Healthcare, and CardioNova’s parent company, the Maxwell Biotech Group, has agreed to fund Phase I and Phase II clinical trials in Russia. As announced by AtheroNova in January, subsequent Phase II trials could commence in the fourth quarter 2013.
AtheroNova's CEO Mr. Gardner had this to say about the shipment of Phase I drug product:
"We are delighted to have achieved shipment of AHRO-001 and are looking forward to the commencement of the Phase 1 human trials in June, another clear milestone for the Company. We are grateful for the work of our tablet formulator to complete the drug product in the necessary timeframe, and we truly look forward to the culmination of development of AHRO-001 as we transition to a clinical-stage enterprise. We look forward to announcing additional milestones as we make continued progress."
AHRO-001 is AtheroNova's first novel application for the treatment and prevention of atherosclerosis. Atherosclerotic plaque is the primary, underlying cause of heart disease and stroke in industrialized countries. AHRO-001 uses certain pharmacological compounds to regress atherosclerotic plaque deposits through a process known as delipidization. Delipidization dissolves plaques in artery walls, which are then removed by natural body processes. AtheroNova is developing, and seeks to eventually market AHRO-001, a product that has the potential to become a new standard of care for patients prone to atherosclerotic plaque accumulation.
For further details on AtheroNova, AHRO-001, and other products in the Company's pipeline, please refer to our latest Quarterly Update on the Company: available here.