Celtic to present Xerecept data in 2009
US drugmaker Celtic Pharmaceutical says it will present the results of two double-blinded studies of Xerecept (corticorelin acetate) as a treatment for peritumoral brain edema, as well as an open-label study of the drug's long-term safety and efficacy, at the American Society of Clinical Oncology meeting in May, and also at the American Association of Cancer Research meeting in April.
Worldwide rights to the drug were purchased from Neurobiological Technologies in 2005, and NTI is now set to receive the first of several milestone and royalty payments for the product.
Celtic also announced that it has retained a top-tier investment bank to serve as its financial advisor in the planned sale of Neutron Holdings, the owners of the worldwide commercial rights to Xerecept.
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