| Industry | Pharmaceuticals, Biotechnology |
|---|---|
| Headquarters | Edmonton, Alberta, Canada |
| Key people | Cliff Giese - Chairman , Kevin Giese - President and CEO , Dr. Kjell Stenberg - COO |
| Products | Dirucotide Mbp8298 |
| Website | www.medwellcapital.com |
Medwell Capital Corp. (formerly BioMS Medical Corp) (TSX-V: WMC) is a Canadian biotechnology company engaged in the development and commercialization of novel therapeutic technologies with emphasis on the treatment of Multiple Sclerosis. On July 27, 2009 the company announced that its drug, dirucotide, failed to meet its primary endpoint in the Phase III MAESTRO-01 Trial. It will discontinue testing of the drug and the future of the company is unclear.
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Medwell Capital obtained an exclusive worldwide license to proprietary technology developed at the MS Patient Care and Research Clinic at the University of Alberta for the treatment of MS. The compound, dirucotide (MBP8298), is a synthetic myelin basic protein peptide composed of 17 amino acids which is intravenously injected (every six months) into MS patients as a therapeutic treatment.
On December 17, 2007 BioMS Medical and Eli Lilly and Company (NYSE: LLY) announced a global licensing and development agreement granting Lilly exclusive worldwide rights to dirucotide.
BioMS is currently conducting three late-stage clinical trials and one open-label trial for dirucotide:
A pivotal phase III trial in Canada and Western Europe evaluating dirucotide for the treatment of Secondary Progressive Multiple Sclerosis (SPMS). The trial is a randomized, double-blind study and has completed full recruitment of 611 patients at 47 trial sites in 10 countries.
An open-label, follow-on trial to MAESTRO-01.
A pivotal phase III U.S. trial evaluating dirucotide for the treatment of Secondary Progressive Multiple Sclerosis (SPMS). The trial is a randomized, double-blind study and has completed full recruitment of approximately 510 patients at 68 sites.
On July 27, 2009 the company announced that the drug had failed to meet its primary endpoint in this trial. It will discontinue testing of the drug and the future of the company is unclear.
A phase II trial evaluating dirucotide for the treatment of Relapsing Remitting Multiple Sclerosis (RRMS). The trial is a randomized, double-blind study and has completed full recruitment of 218 patients at 24 sites in 6 countries.