Encore Therapeutics Inc. Announces Successful Proof of Concept Study on Meloxicam Depot Injection

CARLSBAD, Calif., Oct 18, 2011 (BUSINESS WIRE) -- Encore Therapeutics Inc. (ETI) today announced that it successfully completed a pre-clinical Proof of Concept (POC) study on ETI-511, its proprietary, extended release phospholipid gel (PG) depot formulation of the NSAID drug meloxicam (Mobec(TM)). The company is developing ETI-511 as a long-acting local therapy for pain and inflammation. The key findings from the POC study are: (a) ETI-511 provided about 100-fold higher local tissue levels of meloxicam for at least 48 hours around the injection site compared to orally dosed meloxicam. (b) ETI-511 exhibited lower plasma meloxicam levels at all times compared to the oral dosing and (c) ETI-511 was well tolerated locally and systemically following subcutaneous injections.

ETI-511 therefore provides sustained, localized delivery of much higher levels of meloxicam than is possible with oral dosing thereby providing the potential for both enhanced and prolonged efficacy with reduced systemic side effects. Along with its excellent stability data, ETI-511 generates a compelling commercial rationale for a new NSAID treatment modality for a variety of pain and inflammatory disorders such as, injury, joint pain, post-surgical pain and chronic disorders such as Arthritis. Currently, there is no long-acting injectable NSAID product available in the US.

"The ability of ETI-511 to deliver localized high levels of meloxicam for extended periods has the potential to expand the clinical utility of meloxicam and to create a new indication for the drug with a significant market size, such as in the post-surgical pain management or arthritis area. ETI is now seeking a development partner to further develop ETI-511," stated ETI Chairman and CEO Dr. Paul J. Marangos. Dr. Andrew X. Chen, Chief Scientific Officer at ETI and the inventor of the delivery technology utilized in ETI-511, also noted, "With the potential increased efficacy from the higher localized levels of drug achieved, ETI-511 has the potential to change how we use NSAIDs."

About Encore Therapeutics, Inc. - ETI develops novel formulations that enhance the clinical utility and product life cycle of existing drugs. The Company is seeking licensees to bring its re-purposed product opportunities to market. In addition to ETI-511 the company has four other short runway re-purposed product candidates available for license. For more information please go to www.encoretherapeutics.com

SOURCE: Encore Therapeutics Inc.