DANBURY, Conn., Jan. 3 /PRNewswire-FirstCall/ -- Biodel Inc. (Nasdaq:
BIOD) today announced that the Company has completed enrollment of its two
pivotal Phase III clinical trials of VIAject(TM), a rapid-acting injectable
meal-time insulin for use by patients with Type 1 and Type 2 diabetes. The
Company also announced its intention to build and operate a fill and finish
manufacturing facility for VIAject(TM), on the campus of its current
headquarters in Danbury, Connecticut.
"We are pleased to have completed enrollment of the VIAject(TM)
clinical trials on schedule," commented Solomon S. Steiner, Ph.D., Chairman
and Chief Executive Officer of Biodel. "We believe that VIAject(TM)'s
superior pharmacokinetic and pharmacodynamic profile should improve the
treatment of millions of patients with diabetes."
Biodel has now enrolled over 400 patients with Type 1 diabetes at
approximately 60 clinical sites in the United States, Europe, and Asia, and
over 400 patients with Type 2 diabetes at approximately 50 clinical sites
in the United States, Europe, and Asia. Both studies are multi-center, open
label and six months in duration, comparing the effects of VIAject(TM) to
Humulin(R) R, the leading recombinant human insulin. Biodel expects to
complete these trials and, if the trials are successful, the Company
intends to submit a New Drug Application for VIAject(TM) to the Food and
Drug Administration by the end of 2008.
To prepare for commercialization of VIAject(TM), the Company plans to
build a fill and finish manufacturing facility which will be dedicated to
manufacturing a full line of VIAject(TM) liquid formulations and
presentations. The dedicated manufacturing facility will improve margins,
provide superior quality control, and better inventory control. Biodel
anticipates that the facility will cost under $15 million and will be
available for commercial production in 2009.
About Biodel Inc.
Biodel Inc. is a specialty biopharmaceutical company focused on the
development and commercialization of innovative treatments for endocrine
disorders, such as diabetes and osteoporosis. Biodel's lead product
candidates are all insulin formulations developed by using the VIAdel(TM)
technology, which reformulates existing FDA-approved peptide drugs. The
Company's lead product candidate, VIAject(TM), is a rapid-acting injectable
meal-time insulin in development for use by patients with Type 1 or Type 2
diabetes. VIAject(TM) is currently being tested in two pivotal Phase III
clinical trials. Biodel's pipeline also includes VIAtab(TM), a sublingual
tablet formulation of insulin in Phase I clinical development, and two
osteoporosis product candidates, both of which are in pre-clinical studies.
For further information regarding Biodel, please visit the Company's
website at www.biodel.com.
This press release contains forward-looking statements within the
meaning of the Private Securities Litigation Reform Act of 1995. All
statements, other than statements of historical facts, including statements
regarding our strategy, future operations, future financial position,
future revenues, projected costs, prospects, plans and objectives of
management are forward- looking statements. The words "anticipates,"
"believes," "could," "estimates," "expects," "intends," "may," "plans,"
"potential," "predicts," "projects," "should," "will," "would" and similar
expressions are intended to identify forward-looking statements, although
not all forward-looking statements contain these identifying words. The
Company's forward-looking statements are subject to a number of known and
unknown risks and uncertainties that could cause actual results,
performance or achievements to differ materially from those described or
implied in the forward-looking statements, including, but not limited to,
our ability to secure FDA approval for our product candidates under Section
505(b)(2) of the Federal Food, Drug, and Cosmetic Act; our ability to
market, commercialize and achieve market acceptance for product candidates
developed using our VIAdel(TM) technology; the progress or success of our
research, development and clinical programs, the initiation and completion
of our clinical trials, the timing of the interim analyses and the timing
or success of our product candidates, particularly VIAject(TM) and
VIAtab(TM); our ability to secure additional patents for VIAject(TM) and
our other product candidates; our ability to protect our intellectual
property and operate our business without infringing upon the intellectual
property rights of others; our estimates of future performance; our ability
to enter into collaboration arrangements for the commercialization of our
product candidates and the success or failure of those collaborations after
consummation, if consummated; the rate and degree of market acceptance and
clinical utility of our products; our commercialization, marketing and
manufacturing capabilities and strategy; our estimates regarding
anticipated operating losses, future revenues, capital requirements and our
needs for additional financing; and other factors identified in our
Quarterly Report on Form 10-K for the fiscal year ended September 30, 2007.
The Company disclaims any obligation to update any forward-looking
statements as a result of events occurring after the date of this press
SOURCE Biodel Inc.