Glycomed Inc. has signed an agreement with the University ofWashington giving Glycomed an option to an exclusive licensefor a drug delivery system to treat diseases of the heart andblood vessels, the company said Tuesday.
The system uses a polymer impregnated with a drug toprevent grafted arteries from reclosing following coronaryartery bypass surgery. The degradable polymer is placedoutside the rejoined blood vessels during surgery for localizeddelivery of the drug over time.
The initial drug to be tested in the system is GM1-077, achemically derived complex carbohydrate that has been shownin animal trials to inhibit restenosis following angioplasty.
The system has been tested in animals, but the Alameda, Calif.,company (NASDAQ:GLYC) hasn't scheduled clinical trials of thecombined products, said Brian Atwood, vice president ofoperations.
Glycomed is discussing with a group at Harvard University anoption to an exclusive license to a similar system, said Atwood."We're building our proprietary position," he said.
Glycomed shares closed unchanged at $15.25. -- KarenBernstein
(c) 1997 American Health Consultants. All rights reserved.