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Genaera terminates development of squalamine for wet AMD
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PLYMOUTH MEETING, Pa. — Genaera Corp. has terminated its development of squalamine lactate for treating exudative age-related macular degeneration, the company announced.
Genaera had been evaluating the drug, called Evizon, in a phase 2 study, but the study failed to meet enrollment goals. According to the company, the availability and rapid acceptance of other treatments that improve vision in patients with AMD has made it difficult to meet enrollment goals for its drug.
"Additionally, preliminary information from investigators ... suggests that Evizon is unlikely to produce vision improvement with the speed or frequency necessary to compete with recently introduced treatments. Faced with this discouraging information, as well as evolving Food and Drug Administration guidance on clinical endpoints, we have concluded that there is no attractive or pragmatic option for the registration and commercialization of Evizon for the treatment of wet AMD," said Jack Armstrong, president and chief executive officer of Genaera, in a press release from the company.
As a result, Genaera will reduce its workforce by approximately 30% and will focus on developing the obesity drug trodusquemine, an appetite suppressant, according to the release.