Bone Inc. completes first phase of Human Trial

Biopharmaceutical development company Bone Ltd said it has successfully completed the human phase one component for its oral calcitonin product, BN002.

Biopharmaceutical development company Bone Ltd said it has successfully completed the human phase one component for its oral calcitonin product, BN002.The study confirmed the safety and tolerability of BN002 in human subjects, Bone said, adding that the outcome of the clinical study represents a major step forward in developing product for early commercialisation and cash flow generation.Bone plans to list on the Australian Stock Exchange through a reverse takeover of Revenir Ltd next month with a strategy of driving shareholder value through striking early stage joint ventures with major pharmaceutical manufacturers.As a requirement of its stock swap with Revenir, Perth-based Revenir is undergoing a capital raising of up to $2.52 million through the issue of 4.2 million shares at 60 cents each.Post consolidation and capital raising the company will have around 44.2 million ordinary shares on issue.Bone has several projects underway at various stages, some of which are in the pre-clinical animal and clinical human testing phase.The crucial point of difference of Bone’s potential treatments is that they can be administered orally rather than via injection, infusion or nasal spray.(Source: SMH Australia, July 2004)