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| Healthcare IT and Biotechnology News Release |
| News Home :: Healthcare IT and Biotechnology News Releases :: More News Releases on this day |
| Date of Publication: Tuesday, July 01, 2008 |
DOR BioPharma Announces Collaboration With Numoda Corporation for the Execution of Confirmatory, Phase 3 Clinical Trial of orBec |
| Company announced today that it has entered into a collaboration with Numoda Corporation (Numoda), experts in rapid information turnaround, for the execution of its upcoming confirmatory, Phase 3 clinical trial of orBec® for the treatment of gastrointestinal Graft-versus-Host disease (GI GVHD). |
DOR BioPharma, Inc. (OTCBB: DORB) ("DOR" or the "Company"), a late-stage biopharmaceutical company developing products to treat life-threatening side effects of cancer treatments and serious gastrointestinal diseases, and vaccines against certain bioterrorism agents, announced today that it has entered into a collaboration with Numoda Corporation (Numoda), experts in rapid information turnaround, for the execution of its upcoming confirmatory, Phase 3 clinical trial of orBec® for the treatment of gastrointestinal Graft-versus-Host disease (GI GVHD).
Collaborating with Numoda will allow DOR to take full advantage of a comprehensive scope of services including using their robust industry benchmarking capabilities to develop an accurate operational and financial plan including the use of an extensive and proprietary management and oversight capabilities process. Most importantly, Numoda's highly accelerated and efficient data lock at the end of the clinical trial expedites completion of the study while also increasing quality. Barring any unforeseen modifications to the Phase 3 clinical program, Numoda will guarantee the agreed clinical trial budget against cost overruns. As part of the collaboration, Numoda will also take an equity position in DOR common stock in exchange for a portion of its services in connection with the conduct of DOR's upcoming confirmatory Phase 3 clinical trial. Working with Numoda, DOR will be also able to take full advantage of early reporting of results to potential licensing partners and others.
"It is exciting to be working with DOR on this vital clinical project that has the potential to offer a logical answer to the urgent unmet medical need of GI GVHD," said Christopher Mather, Senior Vice President of Numoda. "We look forward to working with DOR's clinical, regulatory and medical team to bring this product to the patients who so desperately need a therapeutic option."
"We are very pleased to be working with Numoda," said Christopher J. Schaber, PhD, President and CEO of DOR. "Numoda is extremely well-regarded in the industry. We believe that Numoda will perfectly supplement our executive management team, including our esteemed Medical Advisory Board, by providing operational, financial and logistical services, as well as unparalleled clinical trial norms through reporting of information that will be essential to the conduct of a successful Phase 3 clinical study. There will be proactive management of the trial in a live format ensuring that the trial will be conducted efficiently and in a high-quality manner."
Dr. Schaber added, "We are also pleased with Numoda's willingness to invest in our Company as we move into this very important program."
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