REHOVOT, Israel, Sept. 29, 2016 (GLOBE NEWSWIRE) -- NeuroDerm Ltd. (Nasdaq: NDRM ), a clinical stage pharmaceutical company developing drugs for central nervous system (CNS) disorders, today announced that the Company requires additional time to activate clinical sites in certain countries that are participating in its long-term safety trial (trial 012, the "BeyoND" trial) of ND0612, the Company’s continuous, subcutaneously delivered levodopa/carbidopa (LD/CD) liquid formulation. As previously disclosed, upon the completion of the BeyoND trial, as well as the other parallel trials outlined in the Company’s clinical development plan, NeuroDerm intends to submit marketing applications in the U.S. and the EU for ND0612.
Based on the additional time needed for the BeyoND trial, the Company currently expects to submit such marketing applications in the first half of 2018 rather than in the end of 2017, as previously expected. The timeline for product approval could be shortened if the Company applies for, and is granted, an accelerated approval process.
The BeyoND trial is expected to enroll approximately 100 patients. Institutional Review Board (IRB) approval and patient enrollment rates for this trial are proceeding as anticipated in currently active sites.
“We are committed to making our ND0612 product candidates available to Parkinson’s disease patients in need of new therapeutic options. Toward that end, we are expanding the number of countries that will participate in this study as well as the number of U.S. participating sites in order to ensure that we are able to enroll all 100 patients as quickly as possible,” said Oded Lieberman, PhD, CEO of NeuroDerm. “We feel confident that the addition of these sites will allow us to meet the trial’s enrollment target on a timeline that will support submission of regulatory applications in the U.S. and EU in the first half of 2018.”
The Company’s cash guidance remains unchanged, and NeuroDerm believes that it has sufficient cash to advance its product pipeline as planned and reach its clinical and regulatory milestones through mid-2018.
About ND0612H and ND0612L ND0612H and ND0612L are designed to significantly reduce motor complications in Parkinson's disease patients through continuous, subcutaneous delivery of LD/CD solution. Previously completed Phase II trials demonstrated that ND0612L maintained steady, therapeutic levodopa plasma concentrations that were associated with major changes in several clinical parameters including "off time" reductions when added to optimal oral standard of care. ND0612H, intended for severe Parkinson's disease patients, was shown to reach even higher levodopa steady plasma levels, indicating that it may provide an effective therapy alternative to current treatments requiring surgery such as deep brain stimulation and LD/CD Intestinal Gel.
About Parkinson's disease Parkinson's disease is a progressive neurodegenerative illness characterized by reduced dopamine in the brain, resulting in a debilitating decrease in the patient's motor and non-motor functions. Its symptoms, such as trembling in the extremities and face, slowness of movement and impaired balance and coordination, worsen over time and gravely impact the patient's quality of life. Levodopa is the most effective treatment for Parkinson’s disease. However, chronic oral levodopa treatment is associated with fluctuations in motor response as result of which, despite the benefits of the drug, patients can experience periods of impaired motor and non-motor functions, also referred to as "off" time. In addition, mainly as a result of excessive/intermittent oral doses of levodopa aimed at treating the "off" time, some patients experience involuntary movements, or dyskinesia. The "off" time and dyskinesia affect the majority of levodopa-treated Parkinson's disease patients and can interfere with day-to-day functions, causing patients to become severely disabled. Current evidence suggests that intermittent dosing with standard oral formulations of levodopa contributes to the development of these motor complications. By contrast, it has been shown that continuous administration of levodopa can effectively treat motor fluctuations in Parkinson's disease patients without increasing troublesome dyskinesia; however, a convenient route for continuous administration has not been introduced to date.
About NeuroDerm NeuroDerm is a clinical-stage pharmaceutical company developing central nervous system (CNS) product candidates that are designed to overcome major deficiencies of current treatments and achieve enhanced clinical efficacy through continuous, controlled administration. The company has three product candidates in different stages of development which offer a solution for almost every Parkinson’s disease patient from the moderate to the very severe stage of the disease. The company has developed a line of levodopa and carbidopa (LD/CD) product candidates administered through small belt pumps that deliver a continuous, controlled dose of LD/CD. The LD/CD product candidates are ND0612L and ND0612H, which are used for treatment of moderate and advanced Parkinson’s disease patients, respectively, and which are delivered subcutaneously. In addition, NeuroDerm is developing ND0701, a novel subcutaneously delivered apomorphine formulation for patients who suffer from moderate to severe Parkinson’s disease and who do not respond well to LD/CD. NeuroDerm is headquartered in the Weizmann Science Park in Rehovot, Israel.
Forward-Looking Statements This press release contains forward-looking statements, within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended that involve risks and uncertainties. Such forward-looking statements may include projections regarding our future performance and may be identified by words like "anticipate," "assume," "believe," "continue," "could," "estimate," "expect," "intend," "may," "plan," "potential," "predict," "project," "future," "will," "seek" and similar terms or phrases. The forward-looking statements contained in this press release are based on management's current expectations and projections about future events. There are important factors that could cause our actual results, levels of activity, performance or achievements to differ materially from the results, levels of activity, performance or achievements expressed or implied by the forward-looking statements. In particular, you should consider the risks provided under "Risk Factors" in our annual report on Form 20-F for the year ended December 31, 2015 filed with the Securities and Exchange Commission. Any forward-looking statement made by us in this press release speaks only as of the date hereof. Factors or events that could cause our actual results to differ may emerge from time to time, and it is not possible for us to predict all of them. We undertake no obligation to publicly update any forward-looking statements, whether as a result of new information, future developments or otherwise.
NeuroDerm Contact: Oded S. Lieberman, PhD, CEO oded@neuroderm.com Tel.: +972-8-946 2729; Cell: +1-617-517 6077
U.S. Investor Contact: David Carey Lazar Partners Ltd. dcarey@lazarpartners.com +212-867-1768
U.S. Media Contact: Erich Sandoval Lazar Partners Ltd. esandoval@lazarpartners.com +917-497-2867
