Promising Parkinson's drug fails clinical trials

A British pharmaceutical company saw 80 per cent of its value wiped off yesterday (February 18th) as shares plummeted amid the announcement its latest Parkinson's treatment has failed clinical trials.

Phytopharm revealed its Cogane drug showed no benefit over a placebo when administered to more than 400 patients who were diagnosed with early-stage Parkinson's disease.

Tim Sharpington, Phytopharm chief executive, said: "Cogane had demonstrated encouraging efficacy in a wide range of industry standard pre-clinical models but this promise has not translated into clinically meaningful efficacy."

In initial early trials, Cogane had provided indications it could slow the progress of the neurodegenerative disease and ease symptoms.

However, Phytopharm can now find itself alongside Renovo, Minster and Antisoma in the group of pharmaceutical companies that have been hit by recent clinical trial failings of promising drugs.

Analysts are now calling for the pre-clinical testing methods to be reassessed to prevent expensive full trials being commissioned in the future for drugs that ultimately have no effect.

Find the nearest Barchester nursing home.