Dicot to develop LIB-01 to an oral drug
Press release: Uppsala, April 6, 2022. Dicot announces that after evaluating two formulation alternatives, the company decides to prioritize the development of an oral drug candidate for the upcoming phase 1 study. This means that the planned start of the first study in humans is revised to mid-2023. An oral drug is more convenient for patients and means that Dicot's drug candidate will be higher valued in future business negotiations with potential partners.
Dicot announced in June 2021 that prior to the initial clinical trials in humans, the company intended to evaluate both subcutaneous and oral formulation. Dicot now announces that progress has been made in the development work with the oral formulation. Work with both formulation alternatives will continue, but the company focuses primarily on further developing LIB-01 into an oral drug candidate before start of the phase 1 study. The timetable for start of the first human study needs to be revised to mid-2023.
Prior to the use of an oral formulation in the clinical phase, Dicot will now conduct studies in toxicology, efficacy and duration to relate to previous subcutaneous study data as all previous animal studies have been done with a subcutaneous formulation.
"- The progress we have made with the development of an oral formulation is very satisfying. An oral drug is more convenient for patients and is thus higher valued by the market. In connection with this, we also need to announce a new timetable for starting phase 1 study, but at the same time we are optimizing our negotiating position for future business agreements for out-licensing,” says Elin Trampe, CEO of Dicot.
For further information, please contact:
Elin Trampe, CEO
Tel: +46 739 80 14 08
Email: elin.trampe@dicot.se
About Dicot AB
Dicot is developing the drug candidate LIB-01, which will be a potency agent to better treat erectile dysfunction and premature ejaculation. The ambition is to create a drug with significantly longer effect and far fewer side effects, compared to those on the market. Today, at least 500 million men suffer from these sexual dysfunctions and the market is valued at SEK 50 billion. Research and development are conducted under own auspices up to phase 2 studies. Thereafter, Dicot's intention is to form strategic alliances, or alternatively carry out a trade sale, with larger, established pharmaceutical companies to be able to introduce LIB-01 on the world market.
Dicot is listed on Spotlight Stock Market and has approximately 3,300 shareholders. For more information, please visit www.dicot.se.