Arana Therapeutics Ltd has discontinued clinical development of PMX53 for ocular indications. While PMX53 has shown activity in age-related macular degeneration (AMD) models, the level of activity was not sufficient to warrant further development expenditure. As a consequence Arana will not proceed with the clinical trial of PMX53 in AMD previously scheduled for Q2 2009.

All ongoing pre-clinical PMX53 studies will be taken to completion including an osteoarthritis study which is expected to be completed by Q3 2009, and a data package will be assembled in preparation for out-licensing.

Acting CEO Steffen Nock said, "PMX53 is a small cyclic peptide rather than a recombinant protein and thereby falls outside our core technology focus. Arana has a deep product pipeline and has an active ongoing evaluation process to ensure resources are focussed on the highest priority projects."

"The complement area is now attracting increasing attention from pharmaceutical companies and PMX53 is a potent molecule with demonstrated activity in various non-ocular disease models. As such, a number of companies have expressed interest in evaluating PMX53 and we will continue to progress all discussions with an aim of maximising the value of this asset," he added.

PMX53 is an inhibitor of the human C5a 'complement' factor receptor. PMX53 is a cyclic hexapeptide compound and behaves as an insurmountable antagonist with nanomolar affinity for the human C5a receptor

Arana Therapeutics is a biopharmaceutical company focused on developing next generation antibody based drugs that will improve the lives of patients with inflammatory diseases and cancer.