Thursday, June 19, 2008

Inotek starts Phase 1 trial of glaucoma treatment

By Mass High Tech Staff

Inotek Pharmaceuticals Corp. reports that it has begun a Phase 1 trial to treat glaucoma with the company’s Adenosine 1 agonist, INO-8875. The trial will test INO-8875’s ability to lower intraocular pressure, which tends to be higher in glaucoma patients and can lead to optic nerve damage and potential blindness. It will also test patient safety and tolerability.

Inotek, based in Beverly, got FDA approval in March to move the treatment into clinical trials.

The pharmaceutical company has two clinical stage programs — glaucoma and contrast induced nephropathy.

In April, the company reported plans to sell its drug plant in Israel and say goodbye to its CEO, among other developments.

The Beverly-based drug developer said it had accepted the resignation of its CEO, Andrew Salzman, who plans to pursue his career in Israel. Company director Michael Loberg was appointed by the board of directors as interim CEO.

Several other personnel changes were also reported at that time: Rudolf Baumgartner, former vice president of clinical research at Marlborough drug-maker Sepracor Inc., was named chief medical officer; William McVicar, for vice president of product development at Sepracor, was hired as executive vice president of pharmaceutical development; and James Ham, former vice president of Lexington biotech firm NitroMed Inc., was named the company’s new CFO.