ANN ARBOR, Mich., Aug. 15, 2011 /PRNewswire/ — Adeona
Pharmaceuticals, Inc. (AMEX:
AEN), a developer of innovative medicines for serious central
nervous system diseases, today reported its second quarter 2011
financial results for the period ended June 30, 2011, as well as
updates since the beginning of the second quarter.
Updates since the beginning of the second quarter
Drug Development Programs
Multiple Sclerosis (MS)
- As of August 1, 2011, 140 of 150 patients have been enrolled in
the clinical trial evaluating Trimesta in women suffering from
relapsing-remitting MS. The randomized, double-blind,
placebo-controlled clinical trial is currently underway at 15
centers in the United States and should complete enrollment before
the end of 2011.
- Our ongoing Phase II clinical trial of Trimesta (estriol) for
relapsing-remitting MS in women has received over $8 million in
total grant awards and should support the clinical trial to its
- We are planning to sponsor a separate randomized, double-blind,
placebo-controlled clinical trial to evaluate Trimesta’s effect on
cognition in female MS patients.
- In May 2010, we announced a $17.5 million corporate partnership
with Meda AB for the development and commercialization of
flupirtine for fibromyalgia. Meda assumed all future development
costs and estimates the U.S. market for fibromyalgia to be near $1
billion at the time of potential launch of flupirtine. We are
eligible to receive up to $15 million of additional milestone
payments and royalties on sales.
- In its 2010 Annual Report that was publi