PRINCETON, N.J.--(BUSINESS WIRE)--PhytoMedical Technologies, Inc. (OTCBB: PYTO - News; FWB: ET6) today announced plans to expedite the development of its new class of cinnamon-derived 'polyphenolic' compounds, which possess unique antioxidant and insulin enhancing qualities, distinct from existing classes of drugs for diabetes.
In a published study of type-2 diabetes patients, these polyphenolic compounds significantly reduced blood sugar levels by an average of 18 to 29 percent, triglycerides (fatty acids in blood) by 23 to 30 percent, LDL (or "bad") cholesterol by 7 to 27 percent, and total cholesterol by 12 to 26 percent. Unlike currently available classes of drugs, there were no side effects reported in the study.
"Our ongoing test results, along with the outcomes of a published study and other studies published by independent scientists have given us the confidence to fast track the development of our lead type-2 diabetes compound," states Mr. Greg Wujek, President and CEO of PhytoMedical Technologies.
"Our initial research and development work has been conducted pursuant to a three-way Cooperative Research and Development Agreement (CRADA) with Iowa State University and the USDA's Agricultural Research Service, which was critical to the evolution of our development ," continued Mr. Wujek.
"Now, in order to move our compound to the next level, we will conclude our CRADA effective February 1, 2007, and undertake our active diabetes drug development at an experienced, well respected pharmaceutical development facility. This move enables PhytoMedical to expedite our pursuit of an Investigational New Drug (IND) application with the FDA which, if approved, will allow us to initiate Phase 1 human studies."
About PhytoMedical Technologies, Inc.
PhytoMedical Technologies, Inc. (OTCBB: PYTO; Frankfurt Stock Exchange: ET6), together with its wholly owned subsidiaries, is an early stage research based biopharmaceutical company focused on the identification, acquisition, development and eventual commercialization of innovative plant derived pharmaceutical and nutraceutical compounds targeting cachexia, obesity and diabetes.
For additional information, please visit www.PhytoMedical.com.