Troubled outlook for future, reports Alizyme

UK biopharmaceutical drug developer Alizyme has expressed a "material uncertainty over its ability to continue as a going concern." The firm  had cash and cash equivalents of only GBP2.2 million at the end of 2008,  but subsequently received an R&D tax credit of GBP1.4 million.

Cetilistat is continuing through its Phase III clinical development in  Japan partnered with Takeda. The drug has successfully completed an  extensive Phase I and II program, and has been prepared for the  commencement of Phase III development outside of Japan. The firm says  negotiations are progressing with potential partners to license the drug  internationally.

Norgine, Alizyme's partner for Colal-Pred (prednisolone  metasulfobenzoate) in Europe, South Africa, Australia and New Zealand,  is preparing a Marketing Authorisation Application in the European  Union, while Prometheus Laboratories, the North American license holder  for the drug, is progressing a Phase II study and TSD Japan is readying  a Phase I trial in its home country.