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Akesis Pharmaceuticals, Inc. (OTCBB:AKES), an emerging diabetes drug-development company, announced it has initiated dosing of patients in its placebo controlled Phase IIa trial for AKP-020, a novel vanadium compound, to test its safety and efficacy in patients with Type 2 Diabetes. "We are pleased to have reached this Phase IIa milestone," said Jay Lichter, president and chief executive officer of Akesis. "We are on track to complete enrollment and dosing according to schedule and anticipate announcing results when they become available." dgd Research of San Antonio, TX, now a member of Cetero Research, is conducting the Phase IIa, controlled U.S. clinical trial. The trial will enroll a total of 21 diabetic patients at a single site measuring efficacy (using the gold-standard euglycemic-hyperinsulinemic clamping procedure), as well as pharmacokinetic parameters, safety and tolerability of AKP-020 in diabetic patients. AKP-020 is the product designation for a novel vanadium compound otherwise known as bis(ethylmaltolato)oxovanadium (IV), or BEOV. The compound was invented and developed by University of British Columbia researchers Chris Orvig, professor of chemistry and pharmaceutical sciences, and John McNeill, Ph.D., professor and dean emeritus, pharmaceutical sciences, and is licensed exclusively to Akesis Pharmaceuticals. Professors Orvig and McNeill, who are experts in the study of metal chemistry and pharmaceutical sciences, helped to advance the BEOV program through Phase I clinical trials. They also are members of the Akesis Scientific Advisory Board. About Akesis Pharmaceuticals Akesis Pharmaceuticals has a pipeline of innovative oral product candidates for the treatment of diabetes and related metabolic disorders. These product candidates are supported by issued and filed U.S. patents for both prescription and over-the-counter treatments that combine anti-diabetic trace minerals with certain classes of diabetes oral agents. Akesis' product candidates have demonstrated preliminary evidence of efficacy in lowering and controlling blood glucose levels in patients with Type 2 diabetes. Blood sugar control via oral drugs represents a market opportunity in the billions of dollars, as reports indicate that approximately 20 million people suffer from diabetes in the United States alone.
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